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Is crossed demand draft is same as account payee demand draft?
yes
What is the difference between demand draft and cheque?
The following are the main differences between a cheque and a demand draft: 1. A cheque is issued by an individual, whereas a demand draft is issued by a bank. 2. A cheque is drawn by an account holder of a bank, whereas a draft is drawn by one branch of a bank on another branch of the same bank. 3. In a cheque, the drawer and the drawee are different persons. But in a draft both the drawer and the drawee are the same bank. 4. A Cheque can be dishonored for want of sufficient balance in the account. Whereas a draft cannot be dishonored. Hence there is certainty of the payment in the case of a demand draft. 5. Payment of a cheque can be stopped by the drawer of the cheque, whereas, the payment of a draft cannot be stopped. 6. A cheque is defined in the Negotiable Instrument Act, 1881, whereas a demand draft has not be precisely defined in the NI Act. 7. A cheque can be made payable either to a bearer or order. But a demand draft is always payable to order of a certain person.
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.
What s demand draft?
A demand draft is similar to a check. It is usually used as a means of payment of money from one person to another, just like a check. The difference is that, in order to get a demand draft, the person has to visit the bank, deposit the money for which the draft is to be taken and also pay a fee for the same. The draft is as good as cash. Most people prefer accepting drafts instead of checks because, there is a guarantee that the payment will be made.
What is the difference between Demand Draft and Bankers Cheque?
A Demand Draft is a banking instrument . In any case, if it is not crossed, it is bearer, meaning thereby that the bearer, anyone who is presenting it to the bank can get it en cashed... Sometimes you might need to get a demand draft (DD) issued for someone. On certain occasions you may get a Banker's cheque instead. Demand Drafts and Banker's Cheques are almost the same.
Is bank draft and demand draft same?
yes
What is prefix on demand draft of state bank of India?
it is the same
Is crossed demand draft is same as account payee demand draft?
yes
What is the difference between demand draft and cheque?
The following are the main differences between a cheque and a demand draft: 1. A cheque is issued by an individual, whereas a demand draft is issued by a bank. 2. A cheque is drawn by an account holder of a bank, whereas a draft is drawn by one branch of a bank on another branch of the same bank. 3. In a cheque, the drawer and the drawee are different persons. But in a draft both the drawer and the drawee are the same bank. 4. A Cheque can be dishonored for want of sufficient balance in the account. Whereas a draft cannot be dishonored. Hence there is certainty of the payment in the case of a demand draft. 5. Payment of a cheque can be stopped by the drawer of the cheque, whereas, the payment of a draft cannot be stopped. 6. A cheque is defined in the Negotiable Instrument Act, 1881, whereas a demand draft has not be precisely defined in the NI Act. 7. A cheque can be made payable either to a bearer or order. But a demand draft is always payable to order of a certain person.
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.
Difference between cheque and dd?
The following are the main differences between a cheque and a demand draft: 1. A cheque is issued by an individual, whereas a demand draft is issued by a bank. 2. A cheque is drawn by an account holder of a bank, whereas a draft is drawn by one branch of a bank on another branch of the same bank. 3. In a cheque, the drawer and the drawee are different persons. But in a draft both the drawer and the drawee are the same bank. 4. A Cheque can be dishonored for want of sufficient balance in the account. Whereas a draft cannot be dishonoured. Hence there is certainty of the payment in the case of a demand draft. 5. Payment of a cheque can be stopped by the drawer of the cheque, whereas, the payment of a draft cannot be stopped. 6. A cheque is defined in the Negotiable Instrument Act, 1881, whereas a demand draft has not be precisely defined in the NI Act. 7. A cheque can be made payable either to a bearer or order. But a demand draft is always payable to order of a certain person. M.J. SUBRAMANYAM, BANGALORE
Can a demand draft be encashed immediately?
Yes. A Demand draft is like cash. The moment you hand it over to the bank that issued it, they will pay you cash immediately. All they will ask is identification proof that, you are indeed the person to whom the draft was issued. However, if the amount is too high, the bank may ask you to wait a few minutes to arrange the same
Can a payment by demand draft be stopped by the payee?
A Demand Draft can be cancelled at the same branch from where it was issued. The applicant needs to provide a letter along with the original Demand Draft for cancellation.
What s demand draft?
A demand draft is similar to a check. It is usually used as a means of payment of money from one person to another, just like a check. The difference is that, in order to get a demand draft, the person has to visit the bank, deposit the money for which the draft is to be taken and also pay a fee for the same. The draft is as good as cash. Most people prefer accepting drafts instead of checks because, there is a guarantee that the payment will be made.
What is the difference between Demand Draft and Bankers Cheque?
A Demand Draft is a banking instrument . In any case, if it is not crossed, it is bearer, meaning thereby that the bearer, anyone who is presenting it to the bank can get it en cashed... Sometimes you might need to get a demand draft (DD) issued for someone. On certain occasions you may get a Banker's cheque instead. Demand Drafts and Banker's Cheques are almost the same.
Are pay in slip and demand draft same?
No, not at all.
Is demand draft and bankers cheque the same?
no they r not same. a demand draft means a bank orders other banks or its branches to pay money to a person whose name have written on draft.it has a long proses.but we can use telephonic or telegraphic transfer too to made this proses easy. In the other hand ACCORDING TO ME bankers cheque r for loans which one bank borrow from other
