How can I write DD cancellation application?
Dear Sir, You are requested to cancel the above mentioned Demand Draft [DD NO], which took on [date] from your bank for rupees of [amount of DD] in favor of [the person name for DD]. Due to [the reason of DD cancellation], the DD has not been used.
Can a demand draft be Cancelled?
Cancellation of Demand Draft Once you have received the completed demand draft, the money is deducted from your account. If, due to any reason, you have to cancel the demand draft, it can only be done at the bank.
How do I cancel my lost demand draft?
However, if the draft has been lost, stolen or destroyed, the buyer may be able to cancel the draft by returning to his bank, explaining that the draft is irretrievable by either himself or the seller, and presenting to the bank the reference number or a printed copy of the draft.
How can I get refund of demand draft?
Once the DD is issued by the bank after you pay by cash or by deducting the amount from your account, if the need arises for the cancellation of the DD, visit the bank from which the draft was issued. You may have to write an application addressing the bank or branch stating the need for the cancellation.
What is the validity of a demand draft?
As per RBI guidelines, with effect from April 1, 2012, the validity period of Cheques, Demand Drafts, Pay Orders and Banker’s Cheques will be reduced from 6 months to 3 months, from the date of issue of the instrument.
What is DD refund?
In the rare event that an error is made in the payment of your Direct Debit*, either by the organisation or your bank or building society, you are entitled to a full and immediate refund from your bank or building society of the amount paid. Full details of the Direct Debit Guarantee.
What are the charges for DD cancellation?
HDFC Bank DD Charges
|Above Rs.1 lakh||Rs. 2 per 1000 or part thereof sujected to minimum of Rs. 250 and maximum of Rs. 5000|
|Rs.10,000 to Rs.50,000||Rs.60|
|Above Rs.50,000||Rs.5 per thousand rupees or part thereof subjected to maximum of Rs.15,000|
How do I know if I have a DD or cheque?
A demand draft cannot be dishonoured as the money is already paid to the bank, while in the case of a cheque, it can bounce due to instructions to stop payment by the drawer or due to insufficient funds in the account. While the bank issues a demand draft, a cheque is issued by the customer of the bank.
Can demand draft be paid in cash?
The Demand Draft can be made by paying the Bank in Cash as well, but for Demand Drafts exceeding Rs. 50,000 the payment should be by cheque only. However, in case you are required to make the payment in foreign currency, a draft can be prepared in foreign currency as well.
What is the benefit of demand draft?
Advantages of the Demand Draft are as follows: Unlike in the case of cheque, the transfer of the required amount under the DD is guaranteed. DD bank is convenient as it does not have a maximum amount limit and does not require the payee’s banking information.