Is it possible to take DD online in HDFC?
Demand draft is just like cash on a piece of paper. If you have HDFC bank net banking you can create the demand draft by just filling the details in your online portal account. You need to fill payee name, payable place and amount. The draft would be mailed to your registered address within three working days.
How can I get DD from HDFC Bank?
When you make a demand draft, the bank takes the money out of your account and pays it on demand to the beneficiary. You can walk into any HDFC Bank branch and make a demand draft by filling up an application form. You will have to pay charges to make a DD based on the amount of transaction.
Is it possible to get DD online?
The demand draft can also be prepared online. The details need to be accurately filled online and the physical demand draft can either be collected from the nearest branch of the issuing bank or can also be mailed to the registered address.
Is Cheque required for DD?
The Demand Draft can be made by paying the Bank in Cash as well, but for Demand Drafts exceeding Rs. 50,000 the payment should be by cheque only. Quoting your PAN No. is also necessary in case the value of the DD is more than Rs. 50,000.
Can I take DD from any bank?
It can be cleared at any branch of the same bank. It can be cleared at any branch of the same city.
Is cheque required for DD?
What is DD number in HDFC Demand Draft?
What is Demand Draft Number? The DD number is a 6-digit numeric code, or a serial number found at the bottom of the instrument and next to it is the Magnetic Ink Character Recognition (MICR) code. The DD number is just like a cheque number, a unique code is used to complete each transaction.
Is DD safer than cheque?
Can a demand draft be dishonored, just like a cheque? No, a demand draft cannot be dishonored because the full payment has already been made for it unlike a cheque which can be dishonored if the bank account from which the cheque has been issued has insufficient balance.
What happens if demand draft is not cashed?
If the demand draft has expired and has not been encashed by the payee, the amount is not automatically credited back into your account. The bank will re-validate the draft, which is again valid for 3 months, and then you can cancel with the process mentioned above, or you could use the DD again to transfer funds.
Do we need account number for demand draft?
Do I need to provide my account number on the demand draft? Ans: Yes, you will need to provide your account number on the demand draft. Apart from the account number, you will need to enter the payment mode, beneficiary name, cheque number, signature, and place where the draft will be encashed.
How much time it will take to clear DD?
The time frame or the clearing time of a DD varies between banks. They are usually cleared within half an hour, or by the end of the working day. Some banks can take up to three working days. Also, if the DD is for a large amount, it will only be credited to a bank account and not provided as cash.
Can demand draft be Cancelled?
Yes, a demand draft can be cancelled and refunded if it is done within the stipulated time. The DD is refunded to the applicant in cash or is credited to the account, depending upon the payment method used. However, the Bank refunds the amount after deducting the DD cancellation charges.