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Performance information may have changed. Money orders can be purchased fraud. Some bank account service plans since the time of publication. How does a bank draft.

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Bank drafts and certified cheques are only available at financial institutions, whereas money orders can be issued by a bank or Canada Post. Need to deposit a cheque? Learn how easy it is depositing money into your accounts using your digital banking app, quick and easily using your mobile phone. A Bank Draft is a physical means of providing payment to a third party. Funds are immediately taken from your RBC bank account in exchange for the draft.

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Here is what you need to know about when and how to use a bank draft, certified cheque and money order. This site does not include all companies or products available within the market. A bank draft is a payment issued by a bank or credit union on behalf of the account holder.