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Banker's cheque and Demand draft difference

Anil (1638 Points)

15 February 2010

What is the difference between banker's cheque and Demand draft?

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4 Replies

(Guest)

While taking DD you will have to fill "Payable at". If you "payable at" place is in the same city where the bank is then they will issue Bankers cheque or else they will issue DD. Both have same nature except above.

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(Guest)

Demand Draft and Bankkers Cheques are same type of instrument. Difference is only that Bankers cheque is issued for payment in same city while demand Draft is issued for payment in other city.

Anil (1638 Points)
Replied 16 February 2010

Thank you sirs.

sumit (Industrial Trainee at EY) (366 Points)
Replied 16 February 2010

Originally posted by : Rajesh
	Demand Draft and Bankkers Cheques are same type of instrument. Difference is only that Bankers cheque is issued for payment in same city while demand Draft is issued for payment in other city.