banker's draft
banker's draft · banker's drafts · bankers' drafts
A type of financial instrument, used similarly to a cheque to make a payment or…A type of financial instrument, used similarly to a cheque to make a payment or transfer money, but drawn on funds already taken from the payer's account and held by the bank, and hence seen as more certain of being honoured than a personal cheque.
Meaning
1 senses(UK)A type of financial instrument, used similarly to a cheque to make a payment or transfer money, but drawn on funds already taken from the payer's account and held by the bank, and hence seen as more certain of being honoured than a personal cheque.
More definitions
- a draft drawn by a bank against funds deposited in another bank
Forms
plural: banker's drafts / bankers' draftsSynonyms
2 synonymsClose in meaning
- a draft drawn by a bank against funds deposited in another bank:bank draft