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  2. Remotely created check - Wikipedia

    en.wikipedia.org/wiki/Remotely_created_check

    Demand drafts entail a large potential for fraud.Banks report that demand draft fraud is becoming more common. [1] Under the current Federal Reserve Board guidelines the customer has a time frame of 90 days from the time the check was deposited to dispute the transactions.

  3. Demand draft - Wikipedia

    en.wikipedia.org/wiki/Demand_draft

    A specimen demand draft. A demand draft (DD) is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee). [1] [2] A demand draft can also be compared to a cheque. However, demand drafts ...

  4. Banker's draft - Wikipedia

    en.wikipedia.org/wiki/Banker's_draft

    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 ...

  5. Banker's acceptance - Wikipedia

    en.wikipedia.org/wiki/Banker's_acceptance

    When a draft promises immediate payment to the holder of the draft, it is called a sight draft. Cheques written on demand deposits are examples of sight drafts. When a draft promises a deferred payment to the holder of the draft, it is called a time draft. The date on which the payment is due is called the maturity date.

  6. Cashier's check - Wikipedia

    en.wikipedia.org/wiki/Cashier's_check

    The length of a hold varies (2 days to 2 weeks) depending on the bank. It is not clear what length of time may pass before a bank can be held responsible for accepting a bad cashier's check. [10] In Canada, bank drafts carry the same legal weight as standard checks but are provided as a service to clients as a payment instrument with guaranteed ...

  7. Fed's Barr unveils sweeping bank capital plan revisions after ...

    www.aol.com/news/feds-barr-unveil-basel-plan...

    WASHINGTON (Reuters) -The Federal Reserve's regulatory chief on Tuesday outlined a sweeping overhaul easing two major draft bank capital rules following intense industry opposition that delayed ...

  8. Cheque - Wikipedia

    en.wikipedia.org/wiki/Cheque

    In America, the Bank of New York began issuing cheques after its establishment by Alexander Hamilton in 1784. [23] ... If payable on demand it is a "demand draft", ...

  9. Bank of America Bondholders Demand Repurchases of ...

    www.aol.com/news/2010-10-19-bank-of-america...

    A group of Bank of America (BAC) bondholders, including Pacific Investment Management Co. (PIMCO) and the Federal Reserve Bank of New York, are seeking to force the largest U.S. bank by assets to ...