Banking · Payment Systems
Why is a bank draft considered as reliable and good as cash for business transactions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It can be issued without depositing funds in advance
- 2It does not require any processing time for clearance
- 3Payment is guaranteed by the issuing bank✓
- 4It can be transferred without any endorsement
Correct answer
Payment is guaranteed by the issuing bank
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