HomeBANKINGDemand Draft Number

Demand Draft Number

What is the Demand Draft Number?

Demand Draft Number: – Demand Draft is a payment instrument also known as DD issued by the bank. A demand draft is a negotiable instrument issued by a bank to a customer. The customer’s approval is mentioned in the demand draft to pay the amount mentioned in the demand draft to the person presenting the original copy of the demand draft. (हिन्दी में पढने के लिए यहांँ क्लिक करे।)

Demand draft is considered a secure mode of payment as copying or forged copy of the draft is a complicated task. Because the customer already pays the demand draft amount.

Even today, a demand draft is considered more reliable than a cheque as there is no possibility of dishonour due to an insufficient balance in the demand draft. Demand draft can be a suitable mode of payment to avoid any fraud. It can be an even better method of payment in the course of business when the Drawer and Payee do not know each other.

Do you know about the Demand Draft Number? Do you know where the demand draft number is mentioned on the demand draft? It doesn’t matter if you don’t know. This post will provide detailed information about the demand draft number, so read this post until the end.

What is a Demand Draft Number?

Demand draft number is a unique identification number assigned to a demand draft. The demand draft number is a 6 digit numerical code mentioned at the bottom of the demand draft. The demand draft number is mentioned immediately before the Magnetic Ink Character Recognition (MICR Code).

Demand draft number is a unique number similar to a check number, which helps complete the payment process.

Why is there a need to know the Demand Draft Number?

Demand Draft Number helps the Drawer or Payee in case the Demand Draft is stolen or lost. It helps in maintaining the record related to the transaction if Payee has paid the demand draft. Each bank assigns a unique number to the demand draft, keeping in mind the demand drafts issued by other banks.

What are the Unique Numbers given in a demand draft?

In the demand draft, along with the demand draft number, the IFSC code of the issuing bank and Magnetic Ink Character Recognition Code (MICR Code) are also written. IFSC code is required when money is transferred from one bank to another.

How to Close Axis Bank Credit Card

How to track demand draft status?

Presently, the validity of the Demand Draft is up to 3 months on the day any bank issues it. You can get the payment of the demand draft amount within three months from the date of issue of the demand draft. If you want to know the status of the demand draft, then visit your bank branch and get information about the status of the demand draft from the customer representative. Demand Tratak status information can also be obtained through online net banking. First of all, go to the official website of your bank and log in to your bank account using login credentials using the login option. Open the bank account statement. The information of all the recent transactions in your account will open on the screen.

Demand Draft Number Related FAQ

Q-1. Is the account number required while making a demand draft?

Yes, the demand draft carries the details of the payment mode, beneficiary name, check number, signature, where the draft is to be encashed, and the account number.

Q-2. Can an online demand draft be made?

Yes, Demand Draft can also be made through online mode. Some banks provide this type of facility to the customers, like HDFC Bank.

Q-3. What is the demand draft number on a demand draft?

The demand draft consists of a unique 6 digit number given immediately before the MICR code at the bottom, which helps keep records related to payments and payments.

Q-4. For how many days is a demand draft valid?

The demand draft remains valid for three months from the date of issue. It is valid for 3 months, like a banker’s cheque.

Q-5. Where is the demand draft number mentioned in the demand draft?

Demand draft number is written at the bottom of any demand draft immediately before the MICR code. It is a 6 digit unique number.

Read Also : – Check Indian Bank Account Balance

Guru
Guruhttps://paisaproblem.com/
I am student and part time blogger. I am interest to share my views on financial issues.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments