A bank draft, also known as a banker's cheque or banker's draft, is a cheque drawn by a bank on itself or its agent. It is commonly used when a creditor needs assurance that the cheque will not be dishonoured.
A banker's cheque, also known as a bank draft, is a payment instrument issued by a bank on behalf of a payer, which provides a guarantee of the funds because the bank holds the amount before issuing the cheque.
A banker's draft, also referred to as a bank draft, is a payment on behalf of an individual that is guaranteed by the issuing bank.
A banker's payment involves a bank draft drawn in favor of another bank to settle business between the two banks.
In accounting, a draft can refer to several different financial instruments or preliminary versions of documents, each serving specific purposes in financial transactions or documentation processes.
