Difference
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2013
what is the main difference between cheque and DD
24 September 2013
DD will not be given as bearer and cheque can be and dd amount will first be deposited in the payees a/c only by virtue of law.
Dintakurthi Tirumala
(Expert)
24 September 2013
Cheque means no need to have cash at the time of issue and there is chance to bounce and has to go for clearing to its home branch(however now at par cheques available so no need to go for clearing to its home branch)
DD means Demand draft means it should be have cash at the time of drawing of DD and DD means must and should be cashed there is no question of Bounce and no need to go for clearing to home branch and should be cleared because of after payment of cash only the DD shall be drawn means our cash is deposited with the bank in favoring of the payee it we given instruction to the bank should be pay to the payee when he required means when he deposited such DD into the bank.
In one word we can say the main difference is cheque may chance to get bounce but DD never be bounce because of cash related to such dd already hypothicated by the bank.
OM SAI SRI SAI JAI JAI SAI
DD means Demand draft means it should be have cash at the time of drawing of DD and DD means must and should be cashed there is no question of Bounce and no need to go for clearing to home branch and should be cleared because of after payment of cash only the DD shall be drawn means our cash is deposited with the bank in favoring of the payee it we given instruction to the bank should be pay to the payee when he required means when he deposited such DD into the bank.
In one word we can say the main difference is cheque may chance to get bounce but DD never be bounce because of cash related to such dd already hypothicated by the bank.
OM SAI SRI SAI JAI JAI SAI
Dintakurthi Tirumala
(Expert)
24 September 2013
In other simple words we can say DD is another form of CASH but cheque is only for the proof of payment. If DD given it 99.99% cash payment is completed.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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