Hi, I don't have any specific
Submitted by Davidjohn on Fri, 07/23/2010 - 06:47In reply to A newbie all over again! by Annec
Hi, I don't have any specific information re Italy but I went into Bankers Drafts for receiving funds into a UK bsnk account via bankers draft a year o so ago and nakers drafts are not safe and can be rescinded by the issuing bank. Much safer is electronic funds transfer. Once in your account the money cannot be reclaimed, accrding to First Direct bank, whereas a bankers draft can be cancelled if there were no funds behind it. Hope that helps, David
in the uk going into an
Submitted by castel on Fri, 07/23/2010 - 07:24In reply to A newbie all over again! by Annec
in the uk going into an unauthorised overdraft is seen as a valid income line for most banks. In Italy going into an un-authorised o/d is illegal and going to get you in deep water. Chances are if someone issues a cheque the bank will probably honour it (unless its for a bonkers amount) but then send the local gendarmes around to collect the debt. You still have to be wary of stolen chq books etc. re bankers draft, they are drawn against the issuing bank, not the person, generally if you want a draft you have to put up the cash first unless your bank has agreed a limit with you. Totally agree with the point about electronic funds transfer.