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Backup Centre |
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Or Retail funds transfer system
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Bank draft
In the United States, the term generally refers to a draft or cheque drawn by a bank on itself or on funds deposited with another bank. In the case of a cashier’s cheque, the bank is both the drawer and drawee. In the case of a teller’s cheque, one bank is the drawer and a second bank is the drawee. In France, bank drafts may be purchased by a customer and sent to a payee to discharge an obligation.