Y'all will have to forgive me, for I have been a very silent follower of this thread since the past several days, perhaps beginning to count in weeks. But I couldn't just keep staying silent after just reading that some of us are overpaying GTB to get the FX draft.
Maybe, charges for customers that make the FX request in person are different, I don't know. But if you use GTB internet banking to make the FX draft request, "Details of Charges per (transaction) - Commission: 1% of Transaction (subject to a minimum of 10 units of the currency), VAT: 5% of Commission. Please Note: Request received before 2pm will be treated same day, while those received after 2pm will be treated next working day."
I copied that directly from my GTB internet banking page and having raised FX drafts in the past, I can confirm that this is accurate.
So for example, if you are raising the RPR fee draft in USD (advisable, cheaper for you than raising it in CAD due to bank's exchange rate) for you and your spouse ONLY, the amount on the draft would be USD $900 and the charge would be $10 since the $10 is higher than 1% of $900. There will also be a 5% vat on the $10, so your total charge is $10.5.
Another beauty of using internet banking to make the request is also the fact that you don't have to go to Oyin Jolayemi, VI (branch where draft is made) to pick up your draft. They can dispatch it to any branch of your choice (selected from a drop-down button on the internet banking draft request page), assuming you have a few days to spare. It is your choice if you want to go to Oyin Jolayemi (you'll be able to collect immediately), but I just thought you should also know that you don't have to if you still have a whole week before you submit your documents to AVO. The draft can be dispatched to that branch close to your office/house and you just walk in and pick it up.
