draft remittance; remit by bill
Meanings
2 senses · 6 examplesverb
to remit money by bank draft or postal money order; to exchange funds using bills
formalA formal financial term describing a remittance method where the sender purchases a draft from a bank or post office, which the recipient then cashes. Slower but cheaper than telegraphic transfers (电汇).
I want to send this money to my parents back home by bank draft.
Draft remittance is cheaper than telegraphic transfer, but it takes longer to arrive.
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Please fill out this draft remittance application form with the payee's detailed address.
This bank handles international draft remittance services.
noun
draft remittance; remittance by bill; postal order
formalRefers to the method or business of remitting funds via drafts, as opposed to cash (现汇) or telegraphic transfers.
Draft remittance is a traditional method of sending money.
You need to pay a draft remittance service fee.