payable-through-draft

payable-through-draft ( PTD)
A form of check that is written on an organization other than a bank but is payable through banks. Credit union "checks" are actually PTDs. PTDs are recognized as disbursements after they clear, not when they are written. A PTD functions the same as a warrant. American Banker Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • Payable Through Draft — A draft that is payable through a specific bank. Payable through draft instruments draw money from the account of the issuer. Corporations use these instruments to pay bills, and insurance companies use them to pay claims. The bank s name is… …   Investment dictionary

  • Payable through drafts — A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in noncentral locations. The payer s bank delivers the payable through draft to the payer, which must approve it and return it to… …   Financial and business terms

  • payable through drafts — A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in noncentral locations. The payer s bank delivers the payable through draft to the payer, which must approve it and return it to… …   Financial and business terms

  • draft — 1 n 1: a preliminary version of something (as a law) 2 a: a system for or act of selecting individuals from a group (as for military service) b: the act or process of selecting an individual (as for political candidacy) without his or her… …   Law dictionary

  • Treasurer's Draft — A type of bank draft that is payable through a designated bank. Treasurer s drafts are drawn from the issuer s own account. The designated bank does not verify either the signature or the endorsement of the check. It is the issuing bank s… …   Investment dictionary

  • Demand draft — A demand draft A demand draft, also known as a remotely created check, a tele check, or check by phone, check by fax or echeck, is a check created by a merchant with a buyer s checking account number on it, but without the buyer s original… …   Wikipedia

  • Sight draft — Sight Sight (s[imac]t), n. [OE. sight, si[thorn]t, siht, AS. siht, gesiht, gesih[eth], gesieh[eth], gesyh[eth]; akin to D. gezicht, G. sicht, gesicht, Dan. sigte, Sw. sigt, from the root of E. see. See {See}, v. t.] 1. The act of seeing;… …   The Collaborative International Dictionary of English

  • PTD — payable through draft (PTD) A form of check that is written on an organization other than a bank but is payable through banks. Credit union checks are actually PTDs. PTDs are recognized as disbursements after they clear, not when they are written …   Financial and business terms

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