I think I am never going to learn these payment things. I thought Pay Order and Demand Draft are all the same and meant for secure payments only but never did I try to know what is the difference between Pay Order and Demand Draft until last month when I myself had to do DD. My father has a business of his own and he needed to send money to a person through DD. I asked my father how to do Pay Order since it was something which I had never done nor seen my father doing and asked him whether I could do Pay Order instead of DD or not. He said that both are different so I should not be opting for Pay Order at that time. Let me tell you why here.
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I asked my father why can’t I do Pay Order and what is difference between pay order and demand draft to which he said that the client is from another state and if I do Pay Order, he won't be able to clear it. So the Pay Order and Demand Draft difference is that Pay Order can be cleared in any branch of the bank in the same city whereas Demand Drafts is used to make payments to a different state or city.
Another difference between the two is that Pay Orders are pre-printed with Not Negotiable but Demand Draft is a negotiable instrument.
This is what I know about the Difference Between Pay Order and Demand Draft.
Read More:What is Pay Order in Bank?
How to encash demand draft?
What is Dropline Overdraft?
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What Is Difference Between Pay Order And Demand Draft?
Subhajit
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2 Year
2022-09-07T09:07:35+00:00 2023-06-23T17:00:36+00:00Comment
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