How Many Days Is A DD Valid? Cheque is issued by the customers while demand draft is issued by the bank. For how many days is the Demand Draft valid for? Ans: Demand drafts are valid for a period of 3 months from the date of issue. What happens when DD expires? If the demand
How Is DD Commission Calculated? Limit Charges Up to Rs. 5,000 Rs. 25 From Rs. 5,000 to Rs, 10,000 Rs. 50 From Rs. 10,000 to Rs. 1 lakhRs.5 per Rs.1000 or part thereof, with a minimum of Rs.60 Above Rs.1 lakh Rs.4 per thousand or part thereof, with a minimum of Rs.600 and Maximum of
How Long Does It Take To Prepare A Bank Draft? Once the payee presents the bank draft for payment, his or her identity is verified with the name on the bank draft. After the identity verification process, the funds are deposited into the payee’s account. The funds can take anywhere between 1-4 business days to
Can A Bank Draft Be Cashed By Anyone? Can a bank draft be cashed by anyone? The person receiving the bank draft can deposit it at any bank, just like cash. Bank drafts by most financial institutions do not expire. However, certain financial institutions may not accept bank drafts that are more than a few