Validating a bankers draft
There’s no way for them to spend that money before you deposit the bank draft—because the bank already took the money out of their account.Instead of relying on everybody who writes a check, you can depend on the bank to back up the payment.Of course, there are consequences for passing bad checks, but checks bounce all the time.Sometimes it’s an honest mistake, and nobody’s trying to defraud anybody—it’s easy to forget about other transactions that drain an account.A bank draft is a check that is drawn on a bank’s funds and guaranteed by the bank that issues it.
In the United States you'll typically get a "cashier's check," but other countries use the term "bank draft".
You may believe you’re getting paid with cleared funds, but you should always check with your bank and verify that the check is legitimate before you spend the money or sell something valuable.
You can even go a step further and verify funds with the issuing bank before handing over merchandise or depositing a bank draft.
With a bank draft, the funds are moved from the payor’s account into the bank’s accounts immediately when the bank issues the draft.
In other words, a person or organization paying with a bank draft can’t even get a bank draft unless they have the funds required.