Archive:Funds Remittance/Banker's Drafts: Difference between revisions
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<div style="float:right;">[[Funds Remittance/Checks|Prev]] | [[Funds Remittance/Electronic Funds Transfers|Next]] | <div style="float:right;">[[Funds Remittance/Checks|Prev]] | [[Funds Remittance/Electronic Funds Transfers|Next]] | ||
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Revision as of 05:11, 9 April 2009
Banker’s Drafts
This draft is similar to a check. However, it is a time draft drawn on a bank by a bank; and once accepted by the drawee bank, it becomes an unconditional obligation of the bank to honor at maturity.