What are bank draft checks?
A bank draft check, a term frequently used in the United Kingdom, is more commonly known in the United States as a cashier’s check. A bank draft check is generally used to guarantee the funds are available in certain types of situations.FeaturesTo obtain a bank draft check, you either pay the teller in cash or transfer funds from an account with that particular bank. The money is immediately deducted from your account, unlike with a personal check, which typically must be presented by the other party before funds are withdrawn.SecurityBank draft checks feature the name of the issuing bank in an obvious location near the top. They are usually produced with enhanced security features such as watermarks and color-shifting ink.ProtectionA person or business might require you to pay by bank draft check or credit card when he has no relationship with you and no protection if your personal check lacks funds in the account to cover it. Individuals making small numbers of retail sales over the
