Скачать или смотреть Difference Between Demand Draft and Cheque | Information | Features | In Hindi | Polite Talks

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       In this video we are talking about the  the instruments of Remittance, that is Cheque & Demand Draft.  We have given the full information, features of Cheques & DD in this video and we have briefly explain the importance of both of them.  In this video We will explain difference between Demand Draft & Cheque .
(#Cheques #DemandDraft #Diffrence )
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 Video Information:      
      Both DD and cheque are financial and negotiable instruments instruments used to transfer or encash money.
CHEQUE : Cheque is a negotiable instrument which contains an order to the bank, signed by the drawer, to pay a certain sum of money to a specified person. A cheque is a bank order that directs the bank to pay the person the stated sum of money. The stated amount is deducted from the drawer’s (account) and transferred to the beneficiary’s account or given in cash. This is one of the most important banking instruments that people have used for a long time.
DEMAND DRAFT : A demand draft is also a negotiable instrument. A demand draft is a negotiable instrument issued by the bank to the drawer. The instrument directs other bank or branch to pay the payee(beneficiary) a specific sum of money stated in the draft. Unlike cheques, demand drafts are pre-paid instruments. This means that the drawer has to first give the money to the bank to issue a demand draft. This unique feature of demand drafts makes them a safer fund transfer option.

Differences between a demand draft and a cheque:
1. Whilethe bank issues a demand draft, a cheque is issued by the customer of the bank.
2.  Chequeis payable either to order or to bearer and dd is payable to order of a certainperson
3.  Acheque payment can be stopped by the customer, however, payment done through aDD cannot be stopped.
4.   Acheque book is available only to the account holder, while a DD can be executedboth by account holders as well as non-account holders.
5.    Whilethe bank does not charge a fee on a cheque, Bank charges service fees on DDbased on the amount of the draft.
6.     Ademand draft cannot be dishonoured as the money is already paid to the bank,while in the case of a cheque, it can bounce due to instructions to stoppayment by the drawer or due to insufficient funds in the account.
7.    In acheque transaction, there are three parties involved: the drawee, drawer, andpayee, while in a demand draft, only two parties are involved: drawer andpayee.
 
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