what is the difference between pay order & D.D.?
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Answer Posted / hussain riaz shah
The pay order is a cheque issued by the bank in favour of a
beneficiary. It is also known as the Cashiers Cheque or the
Managers cheque. It is issued only against cash by cheque
which is debited immediately. It is payable withing the
city.
the Demand Draft or the DD is again by the bank in favour
of a beneficiary but is payable in another city at the
branch on which it is drawn.
The pay order charges are ususlly a flat rate where as the
charges for a DD are a percentage of the amount of the DD.
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