Bank Cheques
A Bank Cheque is a written payment obligation whereby the Bank instructs a correspondent bank to pay a respective amount to the drawee of the cheque - a natural or legal person established in another state.
You can acquire bank cheques in USD, EUR and GBP in Swedbank.
A Bank Cheque Enables You to:
- send money to a person or enterprise established abroad;
- settle for goods or services with natural or legal persons established abroad;
- effect payments even if you do not know the corporate identity of the payee's bank;
- cancel your bank cheque at any time.
What is the Most Frequent Usage of Bank Cheques?
- when the price of a purchase your are willing to acquire is low - the price of acquisition of a bank cheque is lower than the fee charged for the international order. Cheques are often used to send monetary gifts, settle the subscription of publications, pay for goods ordered from catalogues, settle for seminars as well as for other goods and services;
- with a view to making a monetary gift to a person staying abroad or in Lithuania, a registered bank cheque may be delivered;
- where the corporate identity of a person or enterprise to whom the money is to be transferred is not known.
Using a bank cheque for urgent settlement shall not be recommended.
How to Draw a Bank Cheque?
Arrive at the nearest Swedbank customer service outlet and complete the application. The Bank staff shall ask you to provide a personal document and to specify the full name of the drawee, or a designation, where the drawee is a legal person. You will be able to forward the drawn bank cheque by a registered mail, courier or deliver it personally.
How to Withdraw Money Using a Bank Cheque?
The Bank shall accept cheques and pay money to a particular person after the funds are transferred to a correspondent account of Swedbank. This process may take 4-5 weeks.
