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. A demand draft is a type of financial instrument that is used to transfer funds from one bank account to another. It is a popular method of payment for a variety of transactions, including paying bills, making purchases, and sending money to friends and family. In this section, we will provide an... What is a Demand Draft in Banking? Demand Draft is commonly known as a DD in daily banking services and it can be defined as a prepaid instrument that can be used to transfer money safely from one person or organisation to another, without needing to carry cash or write cheques. Learn what a demand draft is, its types, how it works, and the charges involved. Find a step-by-step guide to making a DD safely and efficiently.
