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TeachMeFinance.com - explain Domestic exchange loan historic definition... Domestic exchange loan -- There is practically no such thing as a loan of domestic exchange. When a loan is obtained from a bank it ordinarily delivers to the borrower a check on itself made out by its cashier (it is called a cashier's check) which the borrower may use in the place where issued or may transmit to any other place. The bank will, if desired, furnish to the borrower a draft on a bank in some other place, but this draft lacks many of the characteristics of a bill of exchange. The borrower merely borrows (obtains a loan) and it is a matter of arrangement with the bank as to the form in which he shall receive the amount which he borrows. Also see Foreign exchange loan. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.