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Bank draft

   Also found in: Dictionary/thesaurus, Legal, Acronyms, Wikipedia 0.06 sec.
Bank draft
A draft addressed to a bank.

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Over the past several years, management has shifted the focus from collecting premiums door-to-door to bank draft and mail pay, and is expanding into the group life market.
Some mortgage companies offer biweekly payment or extra bank draft options for a set-up fee and monthly administrative fee.
The victim company--relying on its previously satisfactory business relationship--ships the goods, only to find out later the bank draft was fraudulent.
 
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