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it´s a cheque
That´s what confuses me – why do they have a cheque and bank draft as a payment option. But you´re right that´s the only way I can make sense of it. It still doesn´t make sense to list essentially the same payment method twice though.
Especially as I asked wether I can be paid via cheque and they said no but we can pay you via bank draft :eh:
A bankers draft is a guaranteed cheque (in the UK) anyway. For example, if I wanted to buy a used car for £5,000, the buyer would probably want a Bankers Draft so I could take the car there and then, whereas with a cheque we’d have to wait for it to clear which could take up to 7 days. It’s effectively an up-front guarantee from the bank that you have the funds available, and the bank debits the account there and then when you go get one.
That said, I’m not sure how this really applies in this industry. Unless its just a “peace of mind” option – the bank normally makes a charge for a draft to the issuer.
Simmo! wrote:That said, I’m not sure how this really applies in this industry. Unless its just a “peace of mind” option – the bank normally makes a charge for a draft to the issuer.Yes that´s what I meant. It would be a method for me to pay Kiwi Gaming but I can´t see it working the other way round unless I debited their account which is not going to happen :hehe:
All the evidence suggests that they mean a cheque.
A bank draft is a cheque drawn on a banks account for a specified amount and currency.
Basically the company or individual “buys” the draft by paying for it up front.
The benefits are :
(1) You get certainty of payment – it’s bank guaranteed – because it’s been paid for already.
(2) It usually means that when you deposit it into your account it will be cleared far faster than a normal “foreign” cheque from an individual or company. Usually it’s cleared funds in 3-5 days rather than upto 45 days.
The terminology they used was correct – I can’t see where the confusion lies ?
TheGooner wrote:The terminology they used was correct – I can’t see where the confusion lies ?Yes there is a standard English terminology, but different countries use different variations of the system, once you translate the terminology into another language it can become confusing and one better err on the safe side and ask.
I pay certain bills with a bank check or bankers draft vs. a personal check.
I make a cash withdrawal and give the teller the payee info. The teller gives me a bank check instead of cash.In addition they make the check payable to both me and the other party so I can redeposit it just incase. They also print on it what the payment is for and the month and year.
