- THE VAIDYANATH URBAN CO-OP BANK LTD
A Demand Draft (DD) is a negotiable instrument issued by a bank instructing another branch or a different bank to pay a specified sum of money to the named payee. It's a secure and convenient way to make payments, especially when the beneficiary is located elsewhere.
Key Features:
- Prepaid Instrument: The amount is paid to the issuing bank in advance.
- Guaranteed Payment: Unlike a cheque, payment of a Demand Draft is guaranteed by the issuing bank.
- Secure: It reduces the risk of fraud associated with cash transactions.
- Widely Accepted: Generally accepted for various payments like school fees, application fees, and payments to businesses.
To obtain a Demand Draft from The Vaidyanath Urban Co-Op Bank Ltd., you will typically need to:
- Have an account with the bank (though some banks may issue DDs to non-account holders with proper identification).
- Provide the full name and address of the payee.
- Specify the amount to be paid.
- Pay the applicable charges.
For further details on obtaining a Demand Draft, including specific requirements and charges, please contact your nearest branch of The Vaidyanath Urban Co-Op Bank Ltd. or visit their official website.