Differentiate between cheque and Demand Draft (D.D).
Answers
Answered by
2
The cheque is issued by the customer, whereas Demand draft is issued by the bank. ... Payment of cheque can be stopped by the drawee, whereas payment cannot be stopped in DD. A cheque can be paid to bearer or order. While DD is paid to a person on order.
Answered by
2
A cheque is a paper instructing the bank to pay a specific amount from the
persons account to the person in whose name the cheque has been made.
The deposits in the bank accounts can be withdrawn on demand, these
deposits are called demand drafts.
Demand drafts are of Two types:
1) Fixed Deposit (F.D.)
2) Recurring Deposit (R.D.)
Similar questions