What is better bank draft or certified cheque?
The certified cheque is issued by a customer who holds an account in the bank and orders the bank to pay the specified person or the bearer of the cheque. A bank draft does not require a customer's signature. However, the bank official signed a certified bank draft, making it more secure.
What is the purpose of a certified cheque?
With a certified check, the recipient knows that the bank has verified the check, signature, and availability of funds. It's a source of guaranteed funds. The process of certifying a check verifies: The person writing the check has the authority to write checks on that account.
What is certified bank draft?
Also called a cashier check or bank draft, a cashier's check is a check that is issued and guaranteed by a bank. Here's a look at why you might want to use a cashier's check and how to get one the next time someone requests that form of payment.
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