Bank Draft Vs Cheque

Hi,

        Please tell me the differences between Bank Draft and Cheque............

Awaiting for your valuable replies....

Replies (4)

bank Draft cannot bounce....... cheque can bounce.......

Bank draft ke charges lagte hain.......... cheque issue karne ke no charges...but charges for cheque bokk will be charged....

in bank draft, amount is deducted first............ when cheque is issued amount is deducted later.....

Completely Agreed with Saloni.

Dear Friend

The Bank Draft may also bounce provided if its not correct in all aspects. In my experience we have recd a draft without signature & bounced.

A bank draft may be returned if the issuing bank has subsequently received a stamp paper indemnity to stop payment of the demand draft (which he himself took from the bank earlier).

There is no absolutely guarantee even in a DD. however, a DD gives a much, much bigger comfort that he will receive payment against the DD which has been given to him by his creditor etc.

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