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TeachMeFinance.com bank draft -- a check written by one bank on its account with another bank. another definition... Bank Draft -- A form of check drawn by a bank against its account in another bank. historic definition... Bank draft -- A draft or bill of exchange issued by a bank and payable by another bank. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.