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A banker's draft (also called a bank cheque, bank draft in Canada or, in the US, a teller's check) is a cheque (or check) provided to a customer of a bank or acquired from a bank for remittance purposes, that is drawn by the bank, and drawn on another bank or payable through or at a bank. [1] In Canada, the term "bank draft" includes both this ...
A cashier's check (or cashier's cheque, cashier's order, official check; in Canada, the term bank draft is used, [1] not to be confused with Banker's draft as used in the United States) is a check guaranteed by a bank, drawn on the bank's own funds and signed by a bank employee. [2]
A cashier’s check is not the same as a banker’s check, which may also be called a teller’s check or bank draft. A banker’s check is given to you by a bank and drawn through another bank ...
Cashier's cheques and banker's drafts, also known as bank cheques, banker's cheques or treasurer's cheques, are cheques issued against the funds of a financial institution rather than an individual account holder. Typically, the term cashier's check is used in the US and banker's draft is used in the UK and most of the Commonwealth. The ...
Certified check; Cashier's check (known as a bank draft in Canada) Money order; Manager's check; Wire transfer; Specifically, personal checks are not allowed, as the account may not have sufficient funds, and credit cards are not allowed, as the transaction may later be disputed or reversed. Checks sent by a bank bill payment service can fall ...
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
Bank drafts [2] Negotiable instruments [2] A noncash item is a special kind of collection item. Noncash items include checks which carry special instructions, checks drawing on funds in foreign banks, and bankers' acceptances. [5] In the United States, fees are generally imposed on collection items due to the special handling which they require ...
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