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Q.

What is difference between a Bank Draft and Banker's Cheque ?

Tags: banker's cheque, difference between a bank draft
Asked by Abhay Nigam, 23 Mar '08 01:08 pm
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Answers (5)

1.

Bank draft is payble in deffrent city whereas Banker's cheque is payble in same city it is prepared
Answered by prashant karn, 23 Mar '08 01:11 pm

 
  
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2.

DD is drawn on individuals also where as bankers cheque is drawn on banks
Answered by shona nair, 23 Mar '08 01:13 pm

 
  
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3.

Bank Draft Or Demand draft can be prepared for any station, where you need money. A banker cheque is like a local draft, which can be encashed locally only.
Answered by Puglee, 23 Mar '08 01:12 pm

 
  
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4.

BANK DRAFT IS GENERALLY DRAWN ON A BRANCH OF THE ISSUING BANK AT SOME OTHER PLACE. IT CAN BE DRAWN ON SOME OTHER BANK'S BRANCH IF THE ISSUING BRANCH HAVE SOME ARRANGEMENT WITH THAT BANK.
A BANKER'S CHEQUE IS GENERALLY ISSUED BY A BANK'S BRANCH AND IS A TYPE OF CHEQUE PAYABLE BY THEMSELVES.
Answered by Ajoy Sen, 23 Mar '08 01:15 pm

 
  
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5.

both r good for payment
Both r order instruments
both r defined separately under negotiable act
the main difference is that the Banker's cheque isa not negotiable instrument
where as Draft is a negotiable instrument. In most of the cases the Draft is payble on the particular place
where as Banker's cheque is payble from where it is issued. many banks arranges to pay banker's cheque to paid in selected branches
Answered by siddhartha das, 23 Mar '08 01:12 pm

 
  
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