What is a bank draft, or bank draft software?
How to accept checks and create bank drafts. Can I create a bank draft or demand draft? Overview: Any business can create a bank draft. A bank draft, is also called a demand draft, or check draft. It is a legal copy of the check that is created by the merchant, and authorized by the account holder, but not created by the account holder. A regular check is created by the account holder, and signed (authorized) by the account holder. A regular check is then given to the merchant and is considered an original item. Checks have certain requirements as to how they are printed, what ink is used, and require the signature of the authorized signer on the checking account. A bank draft is created by the merchant, and the signature is not required. The account holder must authorize the merchant to create a bank draft, and this can be done by phone, fax or online. Authorization is indicated on a bank draft in the signature blank, usually by a statement such as the following: “This draft is preaut
