Update: my friend deposited the draft into a CAD account and opened a HKD account. It will take a month for the bank draft to clear. She said she was treated well at the Central branch. She didn't go with CITIbank b/c lack of branches and Bank of America has very high fees. There are no Canadian bank retail branches in HK. She was charged $285 HKD service fees of depositing the bank draft. She figured with wire transfer it works out about the same as there are fees to wire from this end and also to receive from the local end in HK. The main reason for not doing the wire transfer - although being the best option - is difficulty in getting the draft back to Canada for deposit. Again thanks to everyone for your input. Much appreciated.