Demand Draft?

Name: Qatar Living Classifieds
Rating: 4.1 (228 reviews)
Author: Qatar Living

Is it possible to issue a demand draft without Account number? I mean..like a cash cheque. Can we issue a demand draft in favor of a Person's name? and she can cash it from any bank in India?

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2 comments

By row• 8 Mar 2009 14:04

What currency? I believe demand drafts are issued with "PAYEE"( name of a person or company) and can only be deposited to their respective FXCY account.Since Demand Drafts were issued by banks it guarantees no return.

By anonymous• 8 Mar 2009 13:48

Yes demand draft can be issued with name only, without account number. However adding bank/branch name, account number and name adds value and protection to the instrument. DD can be cashed from the drawee bank only except the instrument expressly states that it can be encashed at par from any branch of the drawee bank.

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Demand Draft?

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