a bank draft is a cheque drawn by a bank on?

Assessment: WAEC SSCE - Commerce - 2018 (Objective) Subject: Commerce

Question 1 Report

a bank draft is a cheque drawn by a bank on?

Answer Details
A bank draft is a type of payment that works like a check. It is drawn by a bank on itself or another bank and is guaranteed to be valid. This means that the bank has set aside the money needed to cover the payment, and the recipient can be confident that the funds will be available. In other words, the bank draft is a secure way to transfer money between parties, and it ensures that the payment is not subject to the risks associated with personal checks or wire transfers.
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