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what is Bank draft,,,,,,,,,,,,:

Business & Finance
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what is Bank draft,,,,,,,,,,,,:

Dec 22nd, 2014

BANK DRAFT

A type of check where the payment is guaranteed to be available by issuing bank. Typically, banks will review the bank draft requester's account to see if sufficient funds are available for the check to clear. 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.

Reference:

http://www.investopedia.com/terms/b/bank_draft.asp


Dec 22nd, 2014

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