Bankers' Acceptances ... is it an investment instrument?
These instruments are commonly used in international transactions, and might associate them with importing and exporting.
As with a T-Bill, bankers' acceptances are so short-term it would make no sense to send interest checks to the buyer. Instead, these short-term debt securities are purchased at a discount from their face value. The difference between what we pay and what we receive is the interest income.
The BA or bankers' acceptance is backed both by a bank's full faith and credit and the goods being purchased by the importer.