Purchase / Collection
Purchased or accepted drafts for collection are divided into the following:
Drafts drawn by branches or external correspondents on branches or branch centers. These drafts are purchased in cash.
Bank drafts drawn by big and well known banks whose authorized signature publications are available in Bank branches. Drafts of this type may be purchased in cash or credited to beneficiaries' accounts, if their value equals $2000 or less; their collection periods are specified according to the country of the bank from which they are drawn.
Personal checks whose drawers are either individuals or legal entities and which are drawn on their accounts at branches or at external banks. Such checks are taken and dispatched by the Bank on collection basis; they are to be credited to the beneficiaries' accounts only after their final collection.
For more information please call our Customer Contact Center through Hala Arabi service at 1 800 333 333 for Paltel and Jawwal subscribers or +970 2 295 3333 for international callers and other telecom companies subscribers.