A cheque drawn by a bank on itself is a?

A cheque drawn by a bank on itself is called a bank draft. A bank draft is a check that is guaranteed by the bank that issues it, which means that the bank is responsible for paying the amount written on the draft. This makes bank drafts a secure form of payment, as they cannot bounce or be canceled like personal checks. Bank drafts are typically used for large transactions, such as real estate purchases or international trade, where a high degree of certainty and security is required. They can also be used by individuals who do not have a checking account or who need to make a payment quickly and securely.