To obtain a bank draft, a person must first deposit funds equal to the check amount with the issuing bank. The bank then generates a check to the payee drawn on the bank's own account. The name of the remitter (the person purchasing the check) is noted on the check, but the bank itself is the entity making the payment.
https://www.merriam-webster.com/dictionary/bank%20draft
Define bank draft: a check from one bank to another bank for payment in the name of a particular person or organization a check from one bank to another bank for payment in the name of a particular person or organization…
https://www.merriam-webster.com/dictionary/bank%20draft
Primary Meanings of draft. 1  n a current of air (usually coming into a chimney or room or vehicle) 2  n a regulator for controlling the flow of air in a fireplace. 3  n any of the various versions in the development of a written work. 4  n a document ordering the payment of money; drawn by one person or bank on another.
https://www.vocabulary.com/dictionary/draft
Draft means to draw, both in the sense of sketching an image onto paper, but also in terms of pulling––a draft horse draws a wagon, a draft of air is drawn into your lungs when you take a breath. A cold draft is a current of cold air being drawn indoors. To draft someone into the army means to draw them into service, or make them serve. When you are drafting, or writing, a draft of a paper on the military draft in the US, you want to let your ideas flow freely. Then, in your next draft, you can work on filling in holes and edit the language down to what you really want to say.
https://www.vocabulary.com/dictionary/draft
Definition of bank draft. : a check from one bank to another bank for payment in the name of a particular person or organization.
https://www.merriam-webster.com/dictionary/bank%20draft
banking account banking account noun US an account which a customer has with a bank... bank reconciliation Definition of bank reconciliation noun the act of making sure that the bank statements agree with the company’s ledgers... base rate base rate noun same as bank base rate... state bank Definition of state bank noun in the US, a commercial bank licensed by the authorities of a state, and not...
https://whatisdictionary.com/bank-draft/
bank draft noun an order by one bank telling another bank, usually in another country, to pay money to someone
https://whatisdictionary.com/bank-draft/
bank draft, noun an order by one bank telling another bank, usually in another country, to pay money to someone bank draft, noun an order by one bank telling another bank, usually in another country, to pay money to someone
https://whatisdictionary.com/bank-draft/
What is a 'Bank Draft'. A bank draft is a payment on behalf of a payer that is guaranteed by the issuing bank. A draft ensures the payee a secure form of payment. During a payer’s reconciliation of his bank account, he notices a decrease in the account balance because of the money withdrawn from the account.
http://www.investopedia.com/terms/b/bank_draft.asp
A bank draft guarantees the availability of the underlying funds because it is drawn upon and issued by a bank. In other words, bank drafts can't bounce, which is why some people choose to make or require payments with bank drafts (or in the U.S., cashier's checks).
https://www.merriam-webster.com/dictionary/bank%20draft
what is a draft in banking terms
A bank draft is a payment on behalf of a payer that is guaranteed by the issuing bank.