Validating a bankers draft

Scroll down for a discussion of that type of draft.

Large amounts: For high-dollar transactions, the consequences of a returned or bounced check are significant.

Your bank will credit the funds to your account more quickly if you make your deposit with a bank employee, as opposed to using an ATM or mobile device to deposit.

Plus, you might be able to get more (or all) of the amount in cash immediately.

You'll need to pay the full amount of the check (plus fees) with cash or a debit card cash advance.

Alternatively, you can try making your payment with a money order, which should be available at numerous grocery and convenience stores.

Available funds: Standard checks can take several business days to move through the banking system.

In the United States you'll typically get a "cashier's check," but other countries use the term "bank draft".With a bank draft, the funds are moved from the payor’s account into the bank’s accounts immediately when the bank issues the draft.In other words, a person or organization paying with a bank draft can’t even get a bank draft unless they have the funds required.You can walk into a branch and get one from a teller, and you might be able to request drafts online.Your chances are best if you go through a bank that you currently have an account with: Most institutions only provide this service to customers. If you're away from home or you don't have a bank account, you can always try walking into another bank’s branch and asking.

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