Bank Draft
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Each is considered a secure method of payment from a third.
Bank draft. To get a banker s draft a bank customer must have funds or cash available. Similar to a cashier s check a legitimate bank draft is safer than a personal check when accepting large payments. A banker s draft also called a bank cheque bank draft in canada or in the us a teller s check is a cheque or check provided to a customer of a bank or acquired from a bank for remittance purposes that is drawn by the bank and drawn on another bank or payable through or at a bank.
Hence it ensures that the person. A bank draft and a money order are both prepaid with a specified amount printed on the instrument itself. A bank draft is a check that is drawn on a bank s funds and guaranteed by the bank that issues it.
A bank draft is used as a type of check which is more reliable than a personal check as it is backed by the bank itself on behalf of the payer. Bank drafts often called check draft that is remotely created checks by the merchant and it is an order of payment authorized by the customer. A normal cheque represents an instruction to transfer a sum of money from the drawer s account to the.
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