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TeachMeFinance.com - explain Bank Draft 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. 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.