Can an unauthorised person use my bank draft ?

Question

I am going to post a bank draft of 2500 pounds from Pakistan to UK University. But I am afraid if someone steal my Draft or it might be used Unauthorised. If I give this draft to some Eduation consultant or Agent to forward it to University. Is it possible that the Agent will use that draft illegally. I have also heard that University can not Draw money untill my arrival to UK. Is it true ?

Answer 1

Bankers drafts could be used fraudulently if lost or stolen. Could you arrange or some other form of money transfer such as electronic transfer direct to the account?

Answer 2

Typically, no it wouldn't be able to be used by anyone else other than the designated party. However, if something did go wrong, such as an encoding error that misplaced the transfer, there will be a distinct ACH trail to follow. Not to mention, the AGENT has no ability to misuse the wire or ach transfer without it being traced, and as a banking agent, I will tell you right now, the laws on us are SOOO much stricter than a normal non-banking employee that it's not even tempting to even LOOK at someone Else's account without authority, more or less misuse their funds. However, if you do not trust the situation, don't do it. When it comes down to it, It's YOUR money, and you have to do what makes YOU comfortable!

Answer 3

If it is made payable to the university but someone else intercepts it ,
You should be able to report it stolen and the bank should rectify the matter .

I would either use the EFT from your account to the schools or ,
If sending a hard paper copy , use a controlled carrier like Fed Ex .

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Answer 4

Why are you posting a Bank Draft? it would be more sensible to leave money in your Bank and withdraw funds personally when you are in UK.

Answer 5

problematic subject. do a search on yahoo. that will can help!