Question

Difference between demand deposits and cheque class 10

Answer 1

Answer:

Here are few other differences between cheque and Demand Deposit :

The cheque is issued by the customer, whereas Demand draft is issued by the bank.

In cheque payment is made after presenting the cheque to the bank, while in Demand Deposits is given after making payment to the bank. ... While Demand Deposits is paid to a person on order.

Answer 2

Answer:

When you have some deposit in your bank then you are able to use cheque.

Demand deposit is the money that deposited by client into the bank and he has right to withdraw it at any given time thus it called demand deposit.

While,

Cheque is a paper instructing bank to pay specific amount of money from a person's account to a person whose name mentioned in the cheque.