How does a consumer get a banker's draft? Do they ask at the counter? In what instances should they be used?
A consumer can ask for a draft at the branch counter or over the phone, however, notice may be required. The bank may prefer to issue a banker’s cheque, which works in the same way. Consumers should check with their bank.
Bankers’ drafts have traditionally been used for large, one-off payments, such as the purchase of a car, where consumers or businesses want to be sure that funds will clear.