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Home > QFINANCE Dictionary > Definition of bank draft

Definition of

bank draft

Banking

check drawn by bank on itself a bill of exchange payable on demand and drawn by one bank on another. Regarded as being equivalent to cash, the draft cannot be returned unpaid.

Related definitions of "bank draft"

Definitions of ’bank draft’ and meaning of ’bank draft’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’bank draft’ and other financial terms with our online QFINANCE Financial Dictionary.

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