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Question
Bank draft is called __________ money.
Bank draft is called __________ money.
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Solution
The correct option is A bank
ANS. D
A bank draft is a payment on behalf of a
payer that is guaranteed by the issuing bank. Typically, banks will review the
bank draft requester's account to see if sufficient funds are available for the
check to clear. A draft ensures the payee a secure form of payment. And
the payer's bank account balance will be decreased by the money
withdrawn from the account.
ANS. D
A bank draft is a payment on behalf of a payer that is guaranteed by the issuing bank. Typically, banks will review the bank draft requester's account to see if sufficient funds are available for the check to clear. A draft ensures the payee a secure form of payment. And the payer's bank account balance will be decreased by the money withdrawn from the account.
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