bank draft

bank draft definition - business

bank draft

A check drawn by a bank against its own funds on deposit in another bank. For example, Bank A writes a check on its account in Bank B made payable to a customer of Bank A.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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