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... 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. A demand draft (DD) is a widely used financial instrument that facilitates secure and convenient fund transfers. Let us explore the meaning of DD in banking, understand the intricacies involved and learn how to make a DD. What is a Demand Draft ? A demand draft is a form of negotiable instrument issued by banks on behalf of an account holder. It acts as a promise of payment, providing a secure way to transfer funds. The term DD in a bank refers to this financial document that guarantees the ... What Is a Demand Draft? A demand draft enables individuals to transfer funds securely from one bank account to another . Unlike checks, demand drafts don’t require signatures to be cashed and are...
