What Is a Bank Money Order?

Bank Draft: A bank draft is a cheque which you can buy from a bank in order to pay someone who is not willing to accept a personal cheque.

Bank draft

Bank Draft: A bank draft is a cheque which you can buy from a bank in order to pay someone who is not willing to accept a personal cheque.
Bank drafts are those issued by the issuing bank and paid unconditionally to the payee or holder at the time of sight of the bill according to the actual settlement amount
Bank drafts are in quadruplicates, the first is a card, which pays for the payment bank
As a cashier, in the process of financial processing, we must pay attention to the issues related to bank drafts. What should be paid attention to when accepting bank drafts?
In actual work, some cashiers of the receiving unit must review the corresponding certificates when accepting bank drafts. The main content involved is whether the payee or endorser has passed a certain level in the unit. Established whether the date and time of payment or the amount of the bills including bank drafts are correct in the filling process without errors. When the amount printed on the imprinting machine, the seal is clearly visible during the stamping process. However, the requirements for bank drafts or explanation notices must be complete and the information must match. It is also necessary to verify the remitter's credentials. The credentials must be accurate and the endorser's name and endorsement must be consistent.
After the relevant information is reviewed, the settlement must be made within the corresponding amount, and the corresponding payment settlement procedures must be completed according to the actual situation. The actual settlement amount must be accurate or clear. Fill in the corresponding bills or the notice of dissolution notice. During the actual settlement process, if the amount is incorrectly entered, the corresponding amount should be crossed out with a red line, and the correct number should be filled on the top. Official seal, but this modification can only be made once, not multiple times. If the money is refunded to the sender by multiple amounts or by the issuing bank, if the refund is made in full, you must fill in the extra amount column with a symbol such as 0-1 to show the distinction. [1]
Banks can be used for the settlement of various types of funds for units and individuals. Bank drafts can be used for transfers, and bank drafts marked "cash" can also be used to withdraw cash. If the applicant or the payee is a unit, the word "cash" shall not be written on the "bank draft".
With other banks
The parties involved in bank draft settlement include:
1) The drawer.
The issuer of bank draft settlement refers to the bank that issues the draft.
2) Payee .
Beneficiaries refer to units and individuals who draw money remitted from a bank draft. The beneficiary can be the sender itself, or it can be a person who has a transaction with the sender or has a settlement with the sender.
3) Payer.
The payer is the bank responsible for making payments to the payee. If the drawer and payer belong to the same bank, both
1) Issuance and settlement of bank drafts.
Bank drafts can be issued and settled only by
[2]
The issuing bank accepts the "Bank Draft Power of Attorney". After checking the contents of the "Bank Draft Power of Attorney" and
The main contents of bank draft include:
(l) payee name or unit;
(2) the name or unit of the sender;
(3) Date of issue (invoice date);
(4) remittance amount, actual settlement amount, and excess amount;
(5) Remittance purposes;
Bank draft refers to
Drafts can be transferred by endorsement. The endorsement should be continuous.

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