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A bank draft does not require a customer's signature. However, the bank official signed a certified bank draft, making it more secure. A certified cheque requires the customer's signature. Also, a bank certifies a cheque by adding the word 'certified' to the signature. Process.

Basically, treat bank drafts like cash. These are useful when you need to make a payment with guaranteed funds and commonly used, for example, when paying a legal settlement or making a large purchase for a home or vehicle.

A bank draft does not require a customer's signature. However, the bank official signed a certified bank draft, making it more secure. A certified cheque requires the customer's signature. Also, a bank certifies a cheque by adding the word 'certified' to the signature.

Once the payee presents the bank draft for payment, his or her identity is verified with the name on the bank draft. After the identity verification process, the funds are deposited into the payee's account. The funds can take anywhere between 1-4 business days to process.

How long does a banker's draft take to clear? The money on a banker's draft is accessible four days after it's been paid in. However, you won't be sure it's cleared (the money is really yours) until six working days after it's been paid it in.

The bank draft, sometimes called a certified bank draft, is drawn on funds that are on deposit with that bank, and payment is guaranteed by that issuing bank. In order to procure a bank draft, the payor ? the person sending funds to someone ? must first be a customer of the bank in question.

Cashier's checks are generally regarded as the safer bet since the funds are drawn against the bank's account, not an individual person's or business's account.