View Full Version : Exchange rate - Bank draft / TT

19-06-2007, 03:18 PM
Can anybody tell me which will fetch a higher exchange rate ? bank draft or TT ?

Foreign money to malaysian ringgit.

What is difference between buying TT and buying OD ? :confused:

19-06-2007, 06:13 PM
T/T allows for 'almost immediate' availability of money while bank draft needs time to go thro the mail & cheque clearance (depending on location of local payee bank).

I believe the conversion rate into Ringgit may be the same for T/T or draft. A more important factor may be the choice of bank. Not every bank pays the same rate. The difference can be quite a lot.