Banker’s Draft

Business, Legal & Accounting Glossary

Definition: Banker’s Draft

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.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Banker’s Draft. Payroll & Accounting Heaven Ltd.
January 18, 2022
Chicago Manual of Style (CMS):
Banker’s Draft. Payroll & Accounting Heaven Ltd. (accessed: January 18, 2022).
American Psychological Association (APA):
Banker’s Draft. Retrieved January 18, 2022
, from website:

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.