A bank draft is a secure form of payment. Think of it as a guaranteed cheque by the bank. The problem is with any form of payment, if someone never gets it, or if the wrong person cashes it, then it’s done. Even though the bank secures it, once it leaves their hands then it isn’t as secure as you may think. Depending on why you require a bank draft, an Electronic Fund Transfer will probably prove to be better in the long run. They’re person-to-person and like a bank draft, and secure. They’re also rising in popularity as services like Paypal and Venmo gain traction.

Read more: Why old-fashioned bank drafts could leave you on the hook for big bucks