FX Services - Foreign Currency Bank Drafts
VBCE issues foreign currency cheques in the currencies listed below. Also, note that exchange rates are volume dependent, and there may be a fee for cheques issued in amounts less than $5,000 CAD. For more information, please refer to our service fee schedule.
VBCE will issue the following foreign currency drafts:
Australian Dollar (AUD)
England (U.K.) Pound (GBP)
Euro (EUR)
Hong Kong Dollar (HKD)
Japan Yen (JPY)
Switzerland Franc (CHF)
United States (U.S.) Dollar (USD)
VBCE will buy foreign currency drafts issued in the following currencies:
England (U.K.) Pound (GBP)
Euro (EUR)
Hong Kong Dollar (HKD)*
Japan Yen (JPY)*
Switzerland Franc (CHF)*
United States (U.S.) Dollar (USD)
*issued by Canadian Financial Institutions only
Please note that foreign currency drafts drawn from banks outside Canada are held for a month, and drafts drawn from a U.S. bank will be held for three weeks. Also note that some European banks issue drafts that are non-transferable. VBCE will not be able to negotiate these items, because of the lengthy clearing time involved, and we highly recommend that the funds be wired into a local (Canadian Financial Institution) bank account. Funds can be wired directly to VBCE if the client doesn't maintain the appropriate foreign currency bank account. If the clients does have a foreign currency account at their local bank, they can have the funds transferred to their own account, and then withdraw a bank draft made payable to VBCE. For more information or an exchange rate quote on a "non-cash" foreign exchange, please consult our trading desk at 604-685-1008.