yeah
A bank draft is a check issued by a bank. It is drawn on the account for a person who has money deposited with the bank. A bank draft is also called a certified check. It is made out to the business or person the customer of the bank needs to pay.
Its indeed a pay order or a draft issued by the bank.
A bank draft is your choice of paying for the insurance, you don't necessarly have to pay your insurance through your bank, there is several different payment methods.
A bank draft is a check drawn on a bank's funds. It is used to pay for something as guaranteed funds. Common uses included paying for property and vehicles.
When going to buy a new car, I would not bring a bank draft with me unless I was buying that I wanted to out right pay for and not finance. Otherwise, instead of brining a bank draft to pay for the car, I would have some other means, such as being prepared to finance, in order to purchase the car.
A bank draft would be required to purchase a home because it guarantees that you have the money to pay for your purchase and that you have sufficient funds to make your payments.
how do you the money from the bank draft?
A check is a type of bank draft. The Savings and Loan issued a bank draft to cover the amount. They sent a bank draft to the utility company.
Bank Draft mean a check drawn by a bank on its own funds in another bank.
It is not mandatory to have an account with a bank in order to take a demand draft. You can walk into any bank's branch and ask them for a demand draft requisition form. Once you fill the form and pay the money required the bank will issue you the DD you wanted. If you are a customer with the bank, they might charge you a little less for the DD fee but that does not prevent you from getting a DD from any bank.
A Demand Draft is an instrument that is used for exchange of money between two people. It is similar to checks with a small difference. You need pay the amount for which you wish to take a draft, to the bank that is issuing the same. The bank may charge you a fee for creating the draft for you. Once done, the draft is as good as liquid cash. The draft is usually created with a customer as Payee. All that person has to do is, visit the bank that issued the draft and provide a valid ID and encash it and he would be paid the money the draft is worth.
There are several instruments (e.g. personal check, business check. bank draft).