Can demand draft payable at any branch?

Posted on by Author

Can demand draft payable at any branch?

All cheques are pre-printed with ‘Non-Negotiable. ‘ It can be cleared at any branch of the same bank. It can be cleared at any branch of the same city.

Can I get a demand draft from SBI at non home branch of more than 50000 if I pay using Cheque?

50,000/- and above is not permitted against cash but only through debit to customers account or against cheques/other instruments tendered by the purchaser. Bankers cheques / drafts for an amount of Rs.

How can I deposit DD in State Bank of India?

  1. In the Demand Draft page, verify the demand draft limit for your accounts.
  2. Select the account from which you wish to issue a draft.
  3. Enter the draft amount.
  4. Enter the name of the person or organization in whose favour the draft is drawn.
  5. Enter a description in the Remarks field.
READ:   Why is Boy Scouts of America v Dale important?

Can RBI issue demand draft?

9.4 Ceiling and monitoring of cash transactions The extant RBI guidelines on the subject are as under : (i) Banks are required to issue travellers cheques, demand drafts, mail transfers, and telegraphic transfers for Rs. 50,000 and above only by debit to customers’ accounts or against cheques and not against cash.

Can demand draft be encashed?

Ans: A demand draft is issued to a client by the bank in order to direct one of its branches or another bank to pay a certain amount of money to the specified payee. How can I encash my demand draft? Ans: You can encash the demand draft by presenting the draft at the bank.

How do I deposit a Demand Draft?

How to Encash Demand Draft

  1. The person who receives the demand draft has to present the draft to his/her bank branch.
  2. The bank asks for specific documents to initiate the payment procedure.
  3. Once the documents are verified, the amount is transferred to the bank account of the individual.
READ:   Why is Java not used for desktop apps?

Can Demand Draft be made online?

The demand draft can also be prepared online. The details need to be accurately filled online and the physical demand draft can either be collected from the nearest branch of the issuing bank or can also be mailed to the registered address.

Can demand draft issued by SBI be made at UCO Bank?

No. The demand draft issued by SBI can not be payable at UCO Bank as per the NI Act which states as follows: ‘ ’Section 85A of NI Act defines Demand Draft as an order to pay money, drawn by one office of a bank upon another office of the same bank for a sum of money payable to order or on demand.’’.

What is demand draft in State Bank of India?

The draft directs another bank or branch to pay the mentioned amount to the payee at a certain time and place. State Bank of India (SBI) also provides demand draft facility to all its account holders. But, there are certain charges associated with the same, which makes it important for account holders to check SBI DD Charges.

READ:   Do you need qualifications to work in a hotel?

Can a DD draft be issued on a different bank branch?

Yes if the party whose name is in the DD has the account in that branch. No demand draft can be issued on the same bank only. Its possible only with foreign currencies where agency arrangements will be made and then drafts can be issued payable by a different bank.

Can a DD be deposited in UCO Bank?

Yes, provided you are having an a/c in UCO Bank, and you are the payee of the DD. Then you have to deposit the State Bank of India DD, for collection at UCO Bank.