meaning of Banker's Draft

Banker's Draft meaning in Finance Dictionary

In circumstances in which an individual owes money to a creditor, plus the creditor just isn't prepared to take an individual cheque because he believes it may jump, a banker's draft can provide an answer. It is merely a cheque made out to the creditor by the debtor's bank, and when you look at the eyes regarding the creditor is more safe.

Banker's Draft meaning in Business Dictionary

a draft payable by a bank in money on presentation.

Banker's Draft meaning in General Dictionary

a draft attracted by a lender against resources deposited in another bank