Bank Draft

Check, drawn by a bank against its own funds deposited in another bank. Banks frequently use bank drafts when it is more convenient to write a bank check than to use a customer's check. For example, a bank's customer needing funds payable the next day in New York can instruct his bank to write a check drawn on its New York Correspondent. Banks charge a fee for the service. In international banking, a Sight Draft or Demand Draft drawn on a foreign bank allows payment in a local currency at the Spot exchange rate, minimizing foreign exchange risk in import/export trade financing. Contrast with Cashier's Check.

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A type of check where the payment is guaranteed to be available by issuing bank. Typically, banks will review the bank draft requester's account to see if sufficient funds are available for the check to clear. Once it has been confirmed that sufficient funds are available, the bank effectively sets aside the funds from the person's account to be given out when the bank draft is used.

Investopedia Says:
Bank drafts are normally involved in transactions involving large sums of money and/or situations where trust can be an issue. 

Suppose you are purchasing a new car, showing up with a bank draft allows the dealership the assurance that you have enough money to purchase the vehicle and that your check will not bounce.

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