Bank draft


Bank draft
A draft addressed to a bank. The New York Times Financial Glossary

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bank draft ˈbank draft also ˈbanker's draft noun [countable] BANKING
a cheque written by a bank and therefore certain to be paid. A customer can use a bank draft to pay someone who will not accept a personal cheque:

• Payment may be made by a bank draft drawn on a UK bank.

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bank draft UK US noun [C] BANKING
(UK also banker's draft) BANK CHEQUE(Cf. ↑bank cheque)
(US an instruction to your bank for them to allow someone else to take money from your account: »

Every month her mortgage is paid automatically by bank draft.


Financial and business terms. 2012.

Look at other dictionaries:

  • bank draft — bank drafts N COUNT A bank draft is a cheque which you can buy from a bank in order to pay someone who is not willing to accept a personal cheque. Payments should be made by credit card or bank draft in U.S. dollars …   English dictionary

  • bank draft — also banker s draft n a cheque from one bank to another, especially a foreign bank, to pay a certain amount of money to a person or organization …   Dictionary of contemporary English

  • bank draft — n. a draft or bill of exchange drawn by a bank on another bank …   English World dictionary

  • bank draft — n. An order for payment of money drawn upon a bank by a bank officer, payable when the issuing bank accepts it. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • bank draft — bank ,draft noun count an order to pay someone that is sent from one bank to another bank, usually in a different country …   Usage of the words and phrases in modern English

  • bank draft — noun a draft drawn by a bank against funds deposited in another bank • Syn: ↑banker s draft • Hypernyms: ↑draft, ↑bill of exchange, ↑order of payment * * * noun Etymology: bank ( …   Useful english dictionary

  • bank draft — a written instruction to a bank s agent to pay a sum of money to the person specified on the draft. A safe and convenient way of remitting money overseas. Glossary of Business Terms A draft addressed to a bank. Bloomberg Financial Dictionary * *… …   Financial and business terms

  • 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… …   Investment dictionary

  • bank draft — banker s cheque; = banker s draft A cheque drawn by a bank on itself or its agent. A person who owes money to another buys the draft from a bank for cash and hands it to the creditor who need have no fear that it might be dishonoured. A bank… …   Accounting dictionary

  • bank draft — banker s cheque; banker s draft A cheque drawn by a bank on itself or its agent. A person who owes money to another buys the draft from a bank for cash and hands it to the creditor who need have no fear that it might be dishonoured. A bank draft… …   Big dictionary of business and management