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what is the difference between cheque and draft
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Answer Posted / gobu natarajan
For issuing cheques, there wont be any commission if it is
to be transacted in the same bank. But for getting as well
as for cancelling the DD, we need to pay commission. DD can
be acquired from the bank by paying the required amount for
that, whereas the cheque will be worthful only when the
indicated amount is available in your savings account.
otherwise the cheque will bounce.
DD can be used by any unauthorised person if it is not
mentioned as account payee only.
| Is This Answer Correct ? | 39 Yes | 13 No |
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