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What are the advantages of mail transfer of money by banks over bankers draft?
Wiki User
∙ 11y ago
mail transfer are faster than bankers draft
Wiki User
∙ 11y ago
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What is bankers name in a demand draft?
The bankers name in a demand draft is the name of the bank from where u purchased the demand draft.
Advantages of paying in bankers draft?
- it will not bound when you make purchases - is cheaper and slower method of sending money - it has the backing by issuing bank - it is better than personal cheque - it can be made out to pay a named account to give it absolute security
If you draft has been lost What bank do before issuing the duplicating draft?
banks generally issue a duplicate draft in lieu of the original reported lost.before the duplicate draft is issued, the purchaser indemnifies the bank against liability in case of the lost draft being presented by someone who has obtained a good title to it.the indemnity should cover the amount of the draft and all cost and expenses reasonably incurred by bank in establishing the title of the person presenting the draft.
Do you have to sign a bank draft?
During Issuance - No. Bank Drafts are certified instruments issued by banks and they will be signed only by an authorized person of the bank and not by any customer. If you have received a draft and want to cash it, then yes - you need to sign on the back side of the draft in order to cash it
Where is the draft no written on a demand draft?
The draft number on a demand draft is found at the bottom of the check. The first six digits is the draft number, and they will be found under the dotted line at the bottom of the check.
What is bankers name in a demand draft?
The bankers name in a demand draft is the name of the bank from where u purchased the demand draft.
Is demand draft and bankers cheque the same?
no they r not same. a demand draft means a bank orders other banks or its branches to pay money to a person whose name have written on draft.it has a long proses.but we can use telephonic or telegraphic transfer too to made this proses easy. In the other hand ACCORDING TO ME bankers cheque r for loans which one bank borrow from other
How can you verify a Bankers Draft from HSBC?
HSBC itself can verify a banker's draft but the process can take a few days. It is possible that some drafts are counterfeit so it is advised that you check beforehand. Once a banker's draft has been issued, the funds are guaranteed, so it's down to the actually draft itself whether or not it is counterfeit.
Advantages of paying in bankers draft?
- it will not bound when you make purchases - is cheaper and slower method of sending money - it has the backing by issuing bank - it is better than personal cheque - it can be made out to pay a named account to give it absolute security
How do you get admission forms for university of Ghana?
There is a period in the year when announcements are made that univeristy forms are out and this means you can purchase one. to get admission forms for The University Of Ghana, you will need to make a bankers draft from your bankers or go over to the campus and make one with bank representatives and submit your bankers draft to obtain your admission forms nicely packaged along with a receipt.
How can you find the DD number in Demand Draft on state bank of hyderabad?
The DD number of a Demand Draft can be located on the draft itself. This is common to drafts issued by all banks, including the State Bank of Hyderabad.
What is demand draft?
Demand Draft is used by individuals to make transfer payments from one bank account to another. Demand Drafts are marketed as a relatively secure way of cashing checks. The difference between a Demand Draft and a Normal Draft is that a Demand Draft do not require a signature in order to be cashed.
Can demand draft be taken in any other banks?
Demand Drafts can be taken in any bank branch. All banks have facilities to accept and issue demand drafts. All they need is the details of the person who is going to pay for the draft and the details of the person to whom the draft should be paid to. The bank might charge you a small fee for providing this facility.
How is a demand draft used?
A Demand draft is used by two people: 1. The Customer who is taking the Draft - He uses the draft to make a payment to another party 2. The Customer who is receiving the Draft - He uses the draft to receive a payment for any goods or services provided to the customer 1. A demand draft is a monetary instrument that is used for transfer or payment of money from one individual to another.
Who did the Arizona Cardinals draft in 2002?
Wendell BryantLevar FisherJosh MccownDennis JohnsonNate DwyerJason McaddleyJosh ScobeyMike Banks
How do I transfer ownership of my condominium unit to my son?
You should contact an attorney who specializes in real estate law in your jurisdiction. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title.You should contact an attorney who specializes in real estate law in your jurisdiction. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title.You should contact an attorney who specializes in real estate law in your jurisdiction. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title.You should contact an attorney who specializes in real estate law in your jurisdiction. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title.
If you draft has been lost What bank do before issuing the duplicating draft?
banks generally issue a duplicate draft in lieu of the original reported lost.before the duplicate draft is issued, the purchaser indemnifies the bank against liability in case of the lost draft being presented by someone who has obtained a good title to it.the indemnity should cover the amount of the draft and all cost and expenses reasonably incurred by bank in establishing the title of the person presenting the draft.
