Demand draft: A Demand Draft (DD) is one

A Demand Draft (DD) is one of the most reliable instruments used to transfer funds safely from one bank to another . Unlike personal cheques, demand drafts are prepaid and provide guaranteed payment, making them useful for high-value transactions, educational fees, and business dealings. Demand Draft also called DD is a way to initiate transactions from one bank to another . It is a negotiable instrument that guarantees payment of a specific amount of money to the specified payee. Demand draft is only issued by the bank and one cannot issue a DD on an individual level. A demand draft is a negotiable instrument similar to a bill of exchange or a cheque, issued by a bank to pay a certain sum to a specified party. Learn about the definitions, regulations, and uses of demand drafts in different regions and contexts. As Cheques can be dishonoured due to insufficient balance, but Demand Draft cannot be dishonoured. This article looks as steps to make a Demand Draft offline by filling form and online, What is Demand Draft ,shows sample image of Demand Draft , What is Banker’s cheque. how to get Demand Draft cancelled, what happens when demand draft expires.