Question

Difference between bankers cheque and demand draft

Answer 1

Banker's Cheque Vs Demand DraftBanker’s Cheque or say pay order is an instrument, generally non-negotiable, issued by the bank on behalf of the customer, containing an order to pay a specified sum to the specified person, in the same city. On the other hand, demand draft is a financial instrument, used by people for the purpose of transferring money from one place to another.