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ebay bankers draft!

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Edge:
Just curious as to why so many folk accept bankers drafts??? Do they not realise that even 3 months after the money is in their account it can be cancelled and withdrawn (Royal Bank of Scotland advised me not to accept them on expensive items because of this!).

Freelander1980:
I was under the impression and having used a few from the bank, when you get them the money is instantly taken and placed in the cheque which is guarenteed by the issuing bank.

Tommo:
Yes my understanding was also that its like a cheque but as good as notes.

narked:
Aye, me too. Last time I used one (well the only time) it had to be signed by the manager for it to be used.

thermidorthelobster:
No no no.

Bankers' drafts can be forged, or more commonly, stolen.  In which case they can be, and are, revoked AFTER they've cleared in your bank account.

My local branch of Lloyds seemed unaware of this, and told me that they were as good as cash, but this is NOT TRUE!  They would not hesitate to yoink the money out of my account if I'd unintentionally paid in a stolen bankers' draft.

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