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What is demand draft?

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What is demand draft?

Posted by Abhishek Kumar 5 years, 11 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 5 years, 11 months ago

Demand Draft is a pre-paid instrument, wherein Bank by whom the DD has been made undertakes responsibility to make full payment.
A method used by individuals to make transfer payments from one bank account to another. Demand drafts are marketed as a relatively secure method for cashing checks. The major difference between demand drafts and normal checks is that demand drafts do not require a signature in order to be cashed.

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