Pay Order / Demand Draft (dd)

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Difference Between Pay Order and Demand Draft (DD)

 

Pay Order meanings it is a bankerís cheque. Pay order is roughly similar to a normal bank cheque. This cheque is subject by the bank for payment inside the city or town. It is used for local purposes. Bank receives their commission charges on pay order. Generally pay order commission or charges are to some extent a lesser amount of than demand draft charges. Main difference between a normal cheque and demand draft is that dd donít require a signature for deposit of cash through cheque. Demand draft is normally secured method for money transactions. Demand draft can be transferred from one place to another. Demand draft required following information, Recipient name, amount, place where transferred money is to paid and cash or debit.

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