What is the difference between Bank Draft and Banker's Cheque - Business Studies - Important Videos

Question

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

Himani Gupta · Accepted Answer

Dear student,

Banker's Cheque
Demand draft

Banker's Cheque is a cheque issued for making the payments
within the same city
Demand draft is a negotiable instrument used to transfer money
from one person at one city to another person in another city

It can be cleared in any branch of the same city
It can be cleared at any branch of the same bank

Regards,

Banker's Cheque	Demand draft
Banker's Cheque is a cheque issued for making the payments within the same city.	Demand draft is a negotiable instrument used to transfer money from one person at one city to another person in another city.
It can be cleared in any branch of the same city.	It can be cleared at any branch of the same bank.