what is a bankers draft?

ive sold some lexus lights to somebody on ebay they are paying me with a bankers draft what do i do with it???

1 Answer

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    Sounds like it's the same as a cashier's check, but some banks call a cashier's check something different if it's under $10,000.

    Even banks have a hard time telling if their own cashier's checks are real, so be very careful. You may want to withhold your shipping until the check has been verified and cleared through your bank. That can take 1-7 days, though if you talk with your banker, perhaps it can be accelerated.

    Source(s): 10 years in mortgage banking
    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.