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what is the difference between cheque and draft
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Answer / biswajit jenamani
a draft is simply a conversion of money to a negotiable
instrument a draft cannot be issued without money where as
a cheque can be issued without sufficent balance in your
account later it may be liable for criminal liability.
| Is This Answer Correct ? | 11 Yes | 7 No |
Answer / zaid qurain
the diff between cheque & draft is
cheque draft
1) cheque can b issued 1) draft cannot b issued 2
2 every one like every1 bcoz it is issued
whose name is written by d banker..
d cheque
| Is This Answer Correct ? | 7 Yes | 3 No |
Answer / md zaid qurain.
cheque is issued by every one who had the cheque book but
draft is issued by the banker only...
| Is This Answer Correct ? | 7 Yes | 3 No |
Answer / adel
If you trust the payee you may accept his cheque,if not you
should ask for draft cheque as it's considered to be
prepaid money
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / rohan
cheques is use for a person which he gives to another in
different state or in place .it means in advance.when we
have money in his account he will pay the cheque.if in
account we dont have money so it wil bounce... and draft
which is use at present which he has to pay the some of
amount to banker for draft...
| Is This Answer Correct ? | 8 Yes | 6 No |
Answer / tejas joshi
Cheque is a personal undertaking to make the payment to
payee or any person as the payee may require whereas DD is
the bank guarantee to honour the draft sum to payee
specified on the DD which is prepaid to bank by drawer.
| Is This Answer Correct ? | 9 Yes | 7 No |
Answer / vikrant
Cheque and Drafts both are Negotiable Instrument, the
difference is that Cheque is issued by An Account Holder
whereas Draft is issued by A Banker. Cheques may get
dishonoured on presentment if sufficient funds are not
available in A/c Holder’s bank A/c, whereas Draft will
never get dishonoured as the sufficient Funds (Cash/Bank)
are transferred from A/c Holders Account / Draft Applicant
paying Cash to Bank’s Account at the time of Issuance of
Draft.
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / neetesh agarwal
There are many difference between cheque and dtaft
1. to issue cheque u have to an account in bank .
but in case of Darft it not neccessarily that u have an a/c in bank .
2. for issueing cheque u have nothing to paid in bank .
in case of draft u have to paid the some money to make a draft to bank .
3. CHEQUE IS USING FOR BOTH A INDIVISUAL PERSON AND A AN ORGANIZATION BUT DRAFT IS ISSUED ONLY IN FAVOUR OF AN ORGANIZATION
4. for chewue we have to cheque book but for draft there is a vocher given from cheque .
5. in case of issue a cheque we need not go to the bank if we have cheque book
but to make a draft we have to go the bank .
6. in case of cheque the amount in the a/c must compulsary.
otherwise cheque will be bounce .
but in case of draft its not compulsory we can issue a draft to giving money to the banker .
&. draft is more secure than cheque because if there is sign in cheque any one can cash the cheque .
but in case of the draft ts only given to the person or organisation in which favour its made
| Is This Answer Correct ? | 7 Yes | 5 No |
Answer / jahnavi
cheque is a type of Bill exchange
Draft is a type of instrumentwhich demands to pay the
ammount.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / karan
DD is just like prepaid... pay the money and you will get
the DD where as Cheque is just like Postpaid. Present the
cheque for payment and you will be paid Money.
| Is This Answer Correct ? | 1 Yes | 0 No |
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