Time for clearing bank drafts

D

Dub45

Guest
Can anyone explain to me how the banks can justify taking 5 working days to clear a bank draft? I always thought that a bank draft was the same as cash given that you have to pay up front for a bank draft?
 
A lot of bank drafts are forgeries. It is only the same as cash if you actually cash it in the branch of the bank on which it is drawn.

Brendan
 
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