Banker’s Draft

Business, Legal & Accounting Glossary

Definition: Banker’s Draft


Quick Summary of Banker’s Draft


In situations where a person owes money to a creditor, and the creditor is not prepared to accept a personal cheque because he thinks it might bounce, a banker’s draft can provide a solution. It is simply a cheque made out to the creditor by the debtor’s bank, and in the eyes of the creditor is much more secure.



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Banker’s Draft. PayrollHeaven.com. Retrieved December 01, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/bankers-draft/

Definition Sources


Definitions for Banker’s Draft are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.