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-   -   What is the difference between a bank draft and a bank cheque? (https://forum.dvdtalk.com/other-talk/410744-what-difference-between-bank-draft-bank-cheque.html)

Fok 02-20-05 09:33 PM

What is the difference between a bank draft and a bank cheque?
 
Is there a difference?

Fok 02-21-05 11:50 AM

bump

woofman 02-21-05 11:52 AM

I'm not sure about a bank draft, but for what it's worth in the credit union world checks are knows as "share drafts"...

Otto 02-21-05 11:58 AM

A bank draft is basically a check from the bank's own account. It's considered as good as cash because it's guaranteed by the bank's own funds instead of by your funds. A bank check is basically the same thing. You give funds to the bank, they give you a check made out to somebody for that amount.

A bank cheque is a misspelling.

Fok 02-21-05 12:37 PM


Originally Posted by Otto
A bank cheque is a misspelling.

Not here in Canada :)

vdadlani219 02-21-05 01:53 PM


Originally Posted by Otto
A bank draft is basically a check from the bank's own account. It's considered as good as cash because it's guaranteed by the bank's own funds instead of by your funds. A bank check is basically the same thing. You give funds to the bank, they give you a check made out to somebody for that amount.

A bank cheque is a misspelling.

The bank check would also be known as a cashier's check or official check.

And the bank draft is what he said...a personal check guaranteed by the bank to have funds.


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