Bank draft

As a kind of draft, a bank draft is a bill issued by the bank according to the customer's application, which will unconditionally pay to the payee or bearer upon presentation according to the settlement amount. Different from the commercial draft, the bank draft takes the bank credit as the basis, the issuing bank as the payer of the bank draft, the bank that examines, approves and pays the bill on behalf of the issuing bank in this system or the cross-system signing bank as the payer agent of the bank draft. The bank draft is the bill with which the bank shall unconditionally pay upon presentation, which can be used nationwide, and of which the settlement amount can be less than the issued amount during settlement and the surplus amount can be returned automatically.