bankers draft

[dazza33]

what is a bankers draft

[paulz]

dazza33 - It's a cheque issued by the bank itself, they take the money from your account first. The point of them is they won't bounce, are effectively as good as cash, but I don't think you can put a stop on them once you've handed it over.

[robber1]

Also, if you sell a car and someone phones to say they will pay by banker draft, be careful. A scam is going around, and they get "delayed" getting to you. They arrive at your home etc when its too late to take the draft to the bank. You give them the car, they give you the draft, buts its a fake and next morning the bank wont take it.