A Demand Draft, like an Electronic Transfer, is one of the methods of transferring money overseas. A Demand Draft is a very convenient option for transferring money. It is an order to pay a certain sum to a certain person or as his instruction. The form is filled by the customer and send to bank . The demand draft made by our bank on receipt of same ; The demand draft is handed over to the purchaser who sends it to the beneficiary. The beneficiary obtains payment on presentation to the bank on which the draft is drawn.
Advantages of a Demand Draft
A cheque payable to particular beneficiary drawn on our correspondent bank.
In any major currency for any amount.
Payment guaranteed by the issuing bank.
A secure form of payment as the demand draft is payable to the specified payee.
Re-purchasable and refundable if lost after completing all formalities.