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.
