Definitions for "Banker's Draft"
A bill of exchange drawn on the bank, like a cheque, and presented by the bearer to the seller to purchase goods. The individual's account is then debited with the amount.
This is a cheque made out to the creditor by the debtor's bank, it is drawn on the banks funds rather than the debtor's and is considered more secure than a personal cheque.
A cheque written by the bank itself (and which cannot therefore bounce).
A payment instrument used to make international payments.