Bank draft

Hi Orpheus, welcome to the forums!

1st) A bank draft is a cheque guaranteed by your bank to pay the person named on the cheque.

Used by people who have to pay for a large item such as a car and do not want to carry a large amount of cash. These drafts are only issued by your bank if you have enough money in your account, and cannot be stopped once they are issued and handed o

Hi hitch,

Thanks for your explanation. One more question, though. Does a cheque always have the payee's name on it? I know a bank draft does.

Orpheus

All the cheques i've seen have a 'payee' requirement.

I think you can pay to 'cash' and things like that. Ie you don't HAVE to specify, but you can't leave that field empty.

Thanks hitch @)

Yep Hitch you're perfectly right. You can't leave it blank. You can write payee's name or cash (or self). However in the latter case(s) you must countersign the cheque. (sign on the back as well as the front).

You don`t need to be a teacher to know about a specific matter, don`t you think so ? I suppose you can surely reply people`s questions. However, you ought to be really sure if you will not be making any mistake. I think you are pretty good in English and you wouldn`t make mistakes deliberately, maybe for lack or attention. Whatever it is, just try to be clear so that people can understand you e

0I'd like to know the difference between a bank draft and a cheque? 0-

0Hi can you put a bank draft into the bank and it clears straight away or do you need to wait few days like a normal cheque02br
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00Sophie0-

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Anonymousy not u are most wellcome on this forum.. tell me the answer.. m waiting for ur reply anxiousely.

The answer was given in the thread. Please read it through. If you have more questions, ask.