0
Add your answer:
Earn +20 pts
How does a demand draft work?
A Demand Draft is an instrument that is used for exchange of money between two people. It is similar to checks with a small difference. You need pay the amount for which you wish to take a draft, to the bank that is issuing the same. The bank may charge you a fee for creating the draft for you. Once done, the draft is as good as liquid cash. The draft is usually created with a customer as Payee. All that person has to do is, visit the bank that issued the draft and provide a valid ID and encash it and he would be paid the money the draft is worth.
For what name you have to issue demand draft?
It depends on your requirement. Usually a DD has to be drawn/issued in the name of the person who will encash it. Lets say you want to apply for B.E in BITS Pilani, along with the application form they would ask for a DD worth say Rs. 1000/- Then you must draw your DD in favor of BITS Pilani so that they can encash it while accepting your application.
What do you need to make a Demand Draft?
A Demand Draft is essentially a Cashier's Check (or Pay Order). What is required to make a Demand Draft are two components:Name of the Beneficiary (to which the demand draft would be made)and needless to say, the money for the amount of the demand draft.Your bank may affix additional charges for making a demand draft.
What is a demand draft application form?
it is an application used for issuing demand draft
Is crossed demand draft is same as account payee demand draft?
yes
How does a demand draft work?
A Demand Draft is an instrument that is used for exchange of money between two people. It is similar to checks with a small difference. You need pay the amount for which you wish to take a draft, to the bank that is issuing the same. The bank may charge you a fee for creating the draft for you. Once done, the draft is as good as liquid cash. The draft is usually created with a customer as Payee. All that person has to do is, visit the bank that issued the draft and provide a valid ID and encash it and he would be paid the money the draft is worth.
Show a demand draft with a demand draft number?
which one is the dd number on a demand draft
What is the meaning of demand draft and normal draft?
is any future of demand draft
How can you find the DD in Demand Draft?
A DD refers to a Demand Draft. Can you explain on what exactly you want to find in a Demand Draft?
What is bankers name in a demand draft?
The bankers name in a demand draft is the name of the bank from where u purchased the demand draft.
For what name you have to issue demand draft?
It depends on your requirement. Usually a DD has to be drawn/issued in the name of the person who will encash it. Lets say you want to apply for B.E in BITS Pilani, along with the application form they would ask for a DD worth say Rs. 1000/- Then you must draw your DD in favor of BITS Pilani so that they can encash it while accepting your application.
Demand draft drawn on?
the bank from which the demand draft has been made
What is the procedure to cancel a demand draft whose validity period has expired?
what is the procedure for the cancellation of demand draft? what is the procedure for the cancellation of demand draft?
What do you need to make a Demand Draft?
A Demand Draft is essentially a Cashier's Check (or Pay Order). What is required to make a Demand Draft are two components:Name of the Beneficiary (to which the demand draft would be made)and needless to say, the money for the amount of the demand draft.Your bank may affix additional charges for making a demand draft.
What is a demand draft application form?
it is an application used for issuing demand draft
Is crossed demand draft is same as account payee demand draft?
yes
How can you find demand draft number in Syndicate bank draft?
The demand draft is another name for a tele-check. The demand draft number through a Syndicate bank draft is usually found at the bottom of the check.
