Multiple choice

A customer does not require a bank account to obtain

  1. a loan

  2. a cheque book

  3. a banker's draft

  4. an overdraft

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A banker's draft (also called a demand draft) is a payment instrument that can be purchased by anyone with cash, without needing a bank account. Loans, cheque books, and overdrafts all require an established banking relationship with account opening procedures.