Funds Remittance/Banker's Drafts

< Funds Remittance
Unit 4.4-Funds Remittance 

Introduction | Checks | Banker's Drafts | Electronic Funds Transfers | Money Orders | Cash or Bank Notes | Credit Cards | SWIFT | Summary | Resources | Activities | Assessment


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.


This article is issued from Wikiversity. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.