A bill of exchange drawn on the bank, like a cheque, and presented by the bearer to the seller to purchase goods. The individual's account is then debited with the amount.
This is a cheque made out to the creditor by the debtor's bank, it is drawn on the banks funds rather than the debtor's and is considered more secure than a personal cheque.
A cheque written by the bank itself (and which cannot therefore bounce).
a draft drawn by a bank against funds deposited in another bank
Draft payable on demand and drawn by or on behalf of the bank itself; it is regarded as cash and cannot be returned unpaid.
A banker's draft is like a standard cheque but which has been guaranteed by a paying bank.
Similar to a cheque but cannot be cancelled or countermanded once drawn. Payment is guaranteed by the paying bank.
A banker's cheque made out to somebody else on your behalf. Because it's drawn on the bank itself, it comes in handy if that somebody finds a personal cheque unacceptable as banker's drafts don't bounce.
a bill of exchange payable on demand and drawn by one bank on another. Regarded as being equivalent to cash, the draft cannot be returned unpaid.
A draft payable on demand and drawn by, or on behalf of, a bank upon itself.
In situations where a person owes money to a creditor, and the creditor is not prepared to accept a personal cheque because he thinks it might bounce, a banker's draft can provide a solution. It is si (More)
Cheque issued by a bank itself, often used for making large purchases.
a cheque drawn on the bank (or building society) itself against either a cash deposit or money taken directly from your own bank account. A banker's draft is a secure way of receiving money from someone you don't know and where a cash is inconvenient. Banker's drafts are commonly used for large purchases such as homes and cars.
A form of cheque but where the commitment to pay is on the bank rather than the customer, so making it far safer than the customer's own cheque which the bank may "bounce" where funds are insufficient.
A banker's draft is a cheque (or check) where the funds are withdrawn directly from a bank's funds, not from an individual's account.
