Banker's draft

 

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Banker's draft

In situations where a person owes money to a creditor, and the creditor is not prepared to accept a personal cheque because he thinks it might bounce, a banker's draft can provide a solution. It is simply a cheque made out to the creditor by the debtor's bank, and in the eyes of the creditor is much more secure.



Similar Matches

Bankers Automated Clearing Services

Bankers Automated Clearing Services

BACS is an APACS clearing company which provides an automated clearing service for payments originated by Settlement Members or those they sponsor.


Banker's reference

Banker's reference

A reference sought from a bank by a company or individual regarding the creditworthiness of another company or individual in order to assess whether or not credit trading terms should be offered.


BBA British Bankers Association

BBA British Bankers Association

This is the trade organisation of the banks.


Eligible bankers acceptances

Eligible bankers acceptances

In the BA market, an acceptance may be referred to as eligible because it is acceptable by the Fed as collateral at the discount window and/or because the accepting bank can sell it without incurring a reserve requirement.


Banker's acceptance

Banker's acceptance

A short-term credit investment created by a non-financial firm and guaranteed by a bank as to payment. Acceptances are traded at discounts from face value in the secondary market. These instruments have been a popular investment for money market funds.


Further Suggestions

Mortgage Banker


 
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