2007-10-09 10:14:55 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
A bankers draft is guaranteed amount of money... it will only be written out if the money is in the bank... it is therefore cash but in cheque form. if u present a bankers draft in the same bank it has been written from it should be cleared funds straight away... but some banks if the company that writes the cheque is different from the one recieving it they can casuse delay and have funds oin your account in 3-5 days technically the funds should be available straight away.
2007-10-09 10:22:21 · answer #1 · answered by sanjlon 1 · 0⤊ 0⤋
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A bankers draft is as good as money providing you cash it at a branch of the bank that it is drawn on. If you take it to your own (different) bank it will take the same time as a cheque to clear (4/6 days).
2016-04-11 01:48:02 · answer #2 · answered by ? 4 · 0⤊ 0⤋
A bankers draft DOES NOT clear. Unless it is a forgery, it has already 'cleared' the bank it is drawn on before it is issued.
2007-10-09 12:09:31 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
a bankers draft acts just like cash you don't have to wait for it to clear
2007-10-09 10:55:31 · answer #4 · answered by Anonymous · 0⤊ 1⤋
If you are the payee of the banker draft you need to cash it at the bank which it is drawn.
2016-04-07 23:51:05 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It depends on a few things.
1) How far away your financial institution is from the one it needs to go to.
2) How far away your financial institution is from where you wrote out the check
3) If the company you wrote it out to does electronic (ACH) transactions.
Anywhere between 3-10 business days
2007-10-09 10:37:38 · answer #6 · answered by Anonymous · 0⤊ 1⤋
pends 0n the bank usually 3-7 days.
2007-10-09 10:19:07 · answer #7 · answered by Anonymous · 0⤊ 1⤋
It should take the same time as any other cheque to clear.
Although deemed to be "guaranteed" they are not - in theory banks do go bust!
2007-10-09 10:36:56 · answer #8 · answered by Luke Warnes 4 · 1⤊ 1⤋
about 5 working days may take longer .
2007-10-09 10:27:10 · answer #9 · answered by MILLION DOLLAR QUESTION 5 · 0⤊ 1⤋