what is bank draft .......
Answers
Answer:
banker's draft is a cheque 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. A normal cheque represents an instruction to transfer a sum of money from the drawer's account to the payee's account.
Answer:
A bank draft, also called a bank check, is a method of payment that involves a document issued by a bank guaranteeing that the amount stated on the certificate will be paid to the recipient of the document. 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; hence, it ensures that the person who the draft is addressed to, will receive the money.