what is the difference between cheque and draft
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Answer Posted / peter abubakari
a draft is a cheque issued by a bank confirming payment and
a cheque is issued by drawer where payment is not secured
due to the fact that the cheque could be dishonoured.
in short draft is comfirmation of payment by a bank where
as a cheque could be dishonoured.
draft will be honoured when get to a bank but the honouring
of a cheque depends on the funds available in the customers
account at the time the cheque is presented to the bank and
the amount involve.
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