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A demand draft (DD) serves as a secure and reliable payment method for transferring funds between bank accounts . Unlike cheques, which may bounce due to insufficient funds, a demand draft guarantees payment because the bank collects the amount upfront. The term Demand Draft is a core concept under personal finance. Get to know the definition of Demand Draft , what it is, the advantages, and the latest trends here. A demand draft is a negotiable instrument similar to a bill of exchange or a cheque, issued by a bank to pay a certain sum to a specified party. Learn about the definitions, regulations, and uses of demand drafts in different regions and contexts. A demand draft is a type of financial instrument that is used to transfer funds from one bank account to another. It is a popular method of payment for a variety of transactions, including paying bills, making purchases, and sending money to friends and family. In this section, we will provide an...
