- banker's draft
A form of cheque but where the commitment to pay is on the bank rather than the customer, so making it far safer than the customer's own cheque which the bank may "bounce" where funds are insufficient.
Easyform Glossary of Law Terms. — UK law terms.
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banker's draft — banker s drafts N COUNT A banker s draft is the same as a bank draft. You pay for the car by banker s draft in the local currency … English dictionary
banker's draft — banker s .draft n ↑bank draft … Dictionary of contemporary English
banker's draft — UK }} US }} noun [C] BANKING ► UK BANK CHEQUE(Cf. ↑bank cheque) … Financial and business terms
banker's draft — noun a draft drawn by a bank against funds deposited in another bank • Syn: ↑bank draft • Hypernyms: ↑draft, ↑bill of exchange, ↑order of payment * * * noun Etymology: banker ( … Useful english dictionary
Banker's draft — A banker s draft (also called a bank cheque ) is a cheque (or check) where the funds are taken directly from the financial institution rather than the individual drawer s account.A normal cheque represents an instruction to transfer a sum of… … Wikipedia
banker's draft — UK / US noun [countable] Word forms banker s draft : singular banker s draft plural banker s drafts a bank draft … English dictionary
banker's draft — /bæŋkəz ˈdraft/ (say bangkuhz drahft) noun → bank draft … Australian English dictionary
banker's draft — See: bank draft … Accounting dictionary
banker’s draft — /ˌbæŋkəz drɑ:ft/ noun a draft payable by a bank in cash on presentation … Dictionary of banking and finance
draft — A written order drawn by one party, called a drawer, that directs a second party (almost always a bank), called a drawee, to pay a sum of money to a third party, called the payee. For example, a check. Drafts are used with letters of credit.… … Financial and business terms