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Normally a Bank Demand Draft is valid for 6 months from the date of issue.

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Q: How many days a demand draft issued in SBI is valid?
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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.


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Can you cancel the Demand Draft?

If you want to cancel a draft which is with you just take it to your banker, stick a revenue stamp on the back, sign it over and it will be canceled. Walk in to the branch where you got your demand draft and tell them that you want the draft to be canceled. They may ask for a written request and once you submit it, they will cancel the draft and credit the money into your account. Remember: The commission you paid for getting the DD would not be refunded. you can go to any branch of the bank as these days the banks have centralized computer sourses and the DD's are cancelled only 3 months from date of issue


How much time will take for demand draft clearance?

If drawn on the same branch where it is presented, then payment is immediate. If presented at a different bank in the same city as the draft is drawn on, then usual clearing time is 3 days. If presented in at a different city, it may take up to 15 days, beyond which clearing bank will pay interest for the delay.


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A Demand can be cashed in either of the following ways: a. Take the DD to the bank that has issued it (any branch would do) and provide valid identification to prove that you are the person to pay whom, the DD was taken. The bank will pay cash immediately b. Take the DD to any bank that you have a bank account with and deposit it into your bank account. Cash will reach your account within 2-3 working days.


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