Bank Draft

A bank draft, also called a demand or check draft, is created by the vendor with approval from the account holder without requiring their signature. Check drafts provide the payee with a secure form of payment. You can create bank drafts in your phone instead of waiting for checks to arrive by mail. Simply send a link to your client’s phone or email and let them fill in the bank information and sign it.

A bank draft is a safe form of payment because it is an official check that is printed and guaranteed by the bank. Additionally, they are more convenient method for transferring large sums of money.

Bank draft is made by vendor or payee and approved by the payer or account holder. It is also called check draft and makes it possible to receive payments with no signature required. Whereas a check is a financial instrument issued along with the payer's signature, and the money is withdrawn from their account when the check is deposited. Zil Money allows creating bank drafts and getting payments by authorization of your payer.

Bank draft is made by vendor or payee and approved by the payer or account holder. It is also called check draft and makes it possible to receive payments with no signature required. A certified check includes the payer's signature, and the money is withdrawn from their account when the check is deposited. You can create bank drafts online on Zil Money by entering the client's bank details, which you can print and deposit like a regular check after client approval.