Bank draft

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Bank draft

A draft addressed to a bank.

Certified Check

A check whose payment is guaranteed by a bank. In exchange for a fee, a bank issues a certified check to a person, who is very often both the payer and the payee. That is, a person gives the bank the amount for which the certified check is written, either in cash or by deducting the appropriate amount from the payer's account; the bank then makes the check payable to that person. The person may cash the check at any bank, or deposit it at a different bank without being subject to a check hold. A certified check is also known as a registered check or banker's draft. See also: Traveler's cheque, Commercial draft.
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The FSA said the misuse of bank drafts only occurred in one branch.
The scam artists place a large order, which is accompanied by a legitimate-appearing bank draft. The victim company--relying on its previously satisfactory business relationship--ships the goods, only to find out later the bank draft was fraudulent.
``They appear with bank drafts which look realistic, but they are forgeries.''
But the evidence of the bank drafts he had personally received from Ben Dunne was irrefutable.
An innocent driver is tricked into acting as a courier for the fraudster, delivering the cars and forged bank draft and collecting the cash.
The court was told he was due to fly to Egypt, via Amsterdam Magistrates were told that the total involved included two bank drafts, each for EUR50m and cheques for pounds 220,000 and EUR850,000.
Cleveland Police are warning traders to be extra vigilant when accepting bank drafts following a number of frauds involving high-value cars across the UK.
CAR buyers and sellers have been warned to be aware of a huge scam involving counterfeit bank drafts.
Figures revealed yesterday show 35 cars have been bought with fake bank drafts before being sold on for cash to unsuspecting customers.
There will be an extra processing fee of pounds 10 per visa and only postal orders or bank drafts will be accepted.
GARDAI yesterday warned the public to be on the lookout for stolen bank drafts.
Bank drafts, postal orders and cash are the only accepted forms of payment.