Question

How drafts are prepared by the banks?

Answer 1

DEFINITION of 'Bank Draft' A bank draft is a payment on behalf of a payer that is guaranteed by the issuing bank. ... Once it has been confirmed that sufficient funds are available, the bank effectively sets aside the funds from the person's account to be given out when the bank draft is used.

Answer 2

bank draft is a payment on behalf of a payer that is guaranteed by the issuing bank. ... A draft ensures the payee a secure form of payment. During a payer's reconciliation of his bank account, he notices a decrease in the account balance because of the money withdrawn from the account.



procedure


Fill that form with particulars like payee,s name ,name of branch wheredraft to be paid and amount of draft .Bank will charge exchange for preparation that draft.you can pay for your draft amount either by cash or by transfer cheque depending on the amount of draft