1, different parties

There are three kinds of bills of exchange, namely drawer, drawee and payee; There are two kinds of promissory notes, namely the drawer and the payee.

When a guest buys a bill of exchange at the bank where the account is opened, the bank first deducts money from the customer's account, and then draws a bill of exchange, so that the guest can directly hand it over to the payee.

The guest buys a promissory note at the bank where the account is opened. The bank deducts money from the customer's account first, and then issues a promissory note, which the customer can directly hand over to the payee.

2. The principal and the debtor are different.

The principal debtor of a bill of exchange is the drawer before acceptance and the acceptor after acceptance; The principal debtor of a promissory note is the drawer.

3. Different in nature

A bill of exchange is a kind of entrusted and mandatory bill; Promissory notes are promissory notes.

Bills of exchange can be used in different places and are valid for one month; Promissory notes can only be used in the same city and are valid for two months.