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TeachMeFinance.com historic definition... Bank bill -- This term is an abbreviation of bankable bill; it means a bill of exchange or draft that is of such good quality that a bank will readily discount (buy) it. Accordingly, it also applies to a bill when it bears the indorsement of a bank. The usual manner in which a bank becomes an indorser of a bill is in selling a bill which it holds instead of retaining it until maturity. The reason for selling is that the bank desires cash or that it can make a satisfactory profit by disposing of it. The bill brings a better price (the discount is less) with the bank's indorsement than it would bring without the bank's indorsement. The term bank bill or bank's bill also applies to a bill of exchange or draft issued by a bank and payable by a correspondent of the bank. The term bank bill also is often used in place of bank note (money). 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 © 2007 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.