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What is crossed demand draft?

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If you cross a bank draft only an account holder can en cash the same. It is generally safer than the normal bank draft.
Assume you take a draft for 100 dollars in favour of Mr. ABCD. If you don't cross it, Mr. ABCD can en cash it without having a bank account. However if you cross it the money will go only to a bank account. So, at any point of time you can prove that you had indeed paid to Mr. ABCD. Another added benefit is in case the draft is lost, any body with the same name can claim the cash.


Thus you get two benefits : Added security as well as a proof.
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What is demand draft?

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It is a unique number that is used to identify the demand draft. it is usually printed on the bottom or left hand side of the DD

Demand Draft Rejected?

A Demand Draft could be rejected if: Your signature does not match the signature with bank recordsThe person who gave you the DD canceled it before you cashed it

Who is drawee bank in demand draft?

A demand draft is a type of check that contains the buyers account  number but not their signature. The drawee bank in a demand draft  is the branch of a particular bank.

What is the difference between cross demand draft and account payee demand draft?

A Demand Draft is a banking instrument . In any case, if it is not crossed, it is bearer, meaning thereby that the bearer, anyone who is presenting it to the bank can get it e

What is the procedure for encashment of a crossed demand draft if the drawee has no bank account?

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