Question

apart from checks people can also exchange money through banks drafts or online transaction extra .find out more about the different modes of exchange

Answer 1

Money has taken many forms from barter to metal money, paper notes and bank deposits. Cheques, book transfer, bank drafts, mail transfers, telegraphic transfers are various modes of exchanges through a bank.

After CBS were implemented in banks NEFT/RTGS were introduced for instance money transfer. International money transfer is done through SWIFT. Of late various digital interface is introduced through mobile banking for money transfer.