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Joined: 07 Aug 2016
|Can I use bearer Payment Order this way ?
I could have asked this question at a bank counter, but considering that I should not take up too much of other people's time at business hours, I have chosen to ask here. Besides, I do think that here, people can tell more about its limitations and bank's problems.
Consider this fictitious scenario.
Assume that I am abroad at, say Spain. I go to a bank and purchase a bearer Payment Order for US$1000. I then post this certificate to someone in Fiji, for him to deposit into his bank account (assume no postage risk).
1. Will it be a problem if I send it to anybody in the world ?
2. Generally, what problems will it impose on paying and receiving banks ?