Automatic bank drafts are part of the electronic banking ... with a voided check along with a signed formal authorization form. The payee then presents the authorized request to the bank or ...

Craig Sebastiano is a personal finance writer based in Toronto. He was previously the managing editor at Ratehub.ca and has written about credit cards, mortgages, banking, investing and investment ...

When it comes to choosing a secure and reliable form of payment, bank drafts, certified cheques and money orders all fit the bill. Ultimately, picking a payment method comes down to the issuer ...

In particular, the bill of exchange here takes the form of a bank draft—a credit instrument where the issuing bank guarantees payment after reviewing the issuing account for sufficient funds.

A bank draft is a secure, physical form of payment to a third party that is guaranteed by the issuing bank or credit union. It’s available in numerous currencies. When you buy a bank draft ...

This article is 1 year old. Some details may be outdated. A bank draft is a physical form of payment that is guaranteed by a financial institution. Bank drafts are used for large purchases such as ...