What is meant by bank draft?
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The bank draft is a payment instrument whose funds are guaranteed by your financial institution. ... An employee will withdraw money from your account and transfer it to an account in the bank's name. Then you will be issued a bank draft, which is a document made out in the name of the person who will receive the money.
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Answer:
The bank draft is a payment instrument whose funds are guaranteed by your financial institution. An employee will withdraw money from your account and transfer it to an account in the bank's name. Then you will be issued a bank draft, which is a document made out in the name of the person who will receive the money.
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