What is the difference between Drafts and Checks? - ProProfs Discuss
Topics-
Products +
     

What is the difference between Drafts and Checks?

Asked by R. Jones, Last updated: Jul 12, 2019

+ AnswerRequest Answer
...

1 Answer

Daniel Frederic

Daniel Frederic

Answered on Jul 12, 2019

A bank draft is a legal copy of a check which can be produced by any business or industry. The merchant or businessman create it and authorized by the bank though not created by the holder of the account. An automated machine usually signs a bank draft has it does not have a genuine signature. A bank draft may be said to be the bank’s check. The account holder redeems the money as a draft after the bank has paid the money. A bank draft does not bounce back because it is already a confirmed payment. In the case of checks, the account holder creates or issued the check on funds available in the account. The account holder must officially and correctly sign a test. Checks contain the name of the bank issuing it at the upper part of it. Checks are prone to fraudulent activities, and may also bounce back.

 Reply

Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer

Email Sent
We have sent an email to your address "" with instructions to reset your password.