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THE MYTH About Bank Draft Monetization

Bank Draft Monetization is already a form of payment, and not a debt obligation, aside from the simple act of deposit it into a bank account.

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THE MYTH About Bank Draft Monetization

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  1. Bank draft monetization ... THE MYTH

  2. A bank draft monetization is a cheque issued by a bank that is the simplest explanation. Now, since it is already a form of payment, and not a debt obligation, aside from the simple act of deposit it into a bank account, how else do you monetize it? You cannot because IT IS ALREADY MONEY. INFORMATION GATHERING Gather Submission Data Intermediaries professionally package themselves for efficient payment. Direct dialog with client to make sure the client is real, ready, and client’s bank is ready as required.

  3. MONETIZATION: bank draft monetization Client’s paperwork is submitted to banker. If paperwork is accepted…the client will be given the contact information of the monetization banker to forward to client’s banker. Client’s banker calls monetization banker to verify monetization banker is ready. Client’s banker sends RWA via SWIFT to monetization as agreed between bankers. Monetization banker issues draft contract to client for review.

  4. Client signs monetization contract. Client blocks asset via MT760 on behalf of monetization bank. Monetization banker deposits monetization funds into client’s account as per contract. Intermediaries paid as agreed So the question is, how come so many people is still here offering to monetize them? Ahhh! Good one! It is not because someone crafted a nice letter disguising a Bank Draft like if it was a Letter of Credit, that it automatically becomes one, it is still a cheque, and you can still deposit it, get 100% of its value, and get over with it; so why there are so many of them around?

  5. Fraudsters know nothing so they create false documents, and then wanna-be brokers and other fraudsters, take them for real, start making offers, and here we are, with a seudo-product in a seudo-market, where very few know the truth... Some prospective clients are asking us: "but then why bank draft monetization are so popular now?"  Because they do not require SWIFT validation to be issued before you pay the scammer for the "instrument"... that is why.  .  The only reason they had resurged in the last month is because the scammers are using them instead of BGs and SBLCs to promote their "advance fee" schemes.  So beware of those. 

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