Bankers Cheque

Bankers cheque, as the name suggests, is a cheque issued by the issuing banker and payable locally, in return of a charge known as ‘Exchange’ which is payable by the person who wants a Bankers cheque to be prepared by his bankers. The person who wants a bankers cheque to be prepared can either pay to his bankers by cash or from his bank account.

Bank issue banker cheque for transfer of money. Is a substitute of Bank Draft, and differ from Ordinery cheque. Coz banker cheque will issue only if u have sufficent fund and just after issue of banker cheque cheque amount will be deducted from ur account.