A demand draft is a prepaid instrument and a widely accepted form of payment in financial transactions. It is an instrument issued by the bank on behalf of a customer or a non-customer guaranteeing payment to the specific beneficiary. It is a popular and guaranteed mode of payment and it does not carry the risk of dishonour. It is generally used for large transactions like paying bills, purchases, or transferring funds where cash and e-transfers are not suitable.
How to Avail of Bandhan Bank DD Form?
Bandhan Bank DD Form can be obtained from any branch of Bandhan Bank. When you need to make a Demand Draft, visit the branch from where you wish to make the demand draft and collect the form. Fill in the DD form, affix your signature and submit the form along with cash or cheque. The Bandhan Bank branch will issue the demand draft on proper verification.
Details to Fill in Bandhan Bank Demand Draft
You should exercise care while filling up the Bandhan Bank DD form. If there is an error in the beneficiary details or the DD payable place, the recipient will have problems getting it encashed and the DD may be rejected for incorrect details. If there are too many strikes in the DD form you might have to refill the form which may delay the DD issuing process. The fields that have to be filled in Bandhan Bank DD Form are:
- The date on which the Bandhan Bank DD request is made
- Drawee Bank Name: The name of the bank issuing the demand draft
- Drawee Branch Name: The specific branch from which the demand draft is being issued.
- Name of the Payee: Name of the individual or organisation to whom the DD is payable. This should be written accurately to avoid rejection of the DD.
- Account Number of Payee: If the DD is being credited to a specific bank account, the account number of the payee has to be provided.
- Address of the Payee: For verification and communication purposes
- DD Payable at: The city on which the DD has to be issued
- Amount: The amount for which the DD has to be prepared. The DD amount should be written both in words and figures.
- Bank Charges: The Bandhan Bank DD charges as specified by the bank
- Total Amount: Total amount payable to the bank in figures
- Name of the Applicant: The name of the person applying for the Bandhan Bank DD
- Applicant’s Account Number: If the applicant has an account at Bandhan Bank and intends auto-debit from the account.
- Address of the applicant: The address of the applicant for correspondence and verification.
- Signature: The signature of the applicant authorising the issuance of the demand draft.
Bandhan Bank will verify the details for accuracy and then issue the DD after collecting the amount either by cash or cheque.
Documents required to issue Bandhan Bank DD
The documents required to issue Bandhan Bank DD are:
- Bandhan Bank DD Form
- Cheque leaf issued to Bandhan Bank maintained by the drawer
- Cash if the DD amount is paid in cash
Features and Benefits of Bandhan Bank DD
The Bandhan Bank DD is a reliable mode of payment as the DD issuing Bank guarantees the amount specified in the demand draft to the specific recipient which gives very limited scope for dishonour. The advantages of payment made through DD has numerous advantages for both individuals and businesses alike. The key features and benefits of Bandhan Bank DD are:
- Bandhan Bank Demand draft ensures payment to the right party as the name of the payee is mentioned in the demand draft.
- This payment mode ensures an organised and more secure financial system and avoids the need to carry cash. This mitigates the risk of loss or theft during transactions.
- Each demand draft transaction is recorded and easily traceable. Banks maintain records of DD issuances and encashments, offering transparency and accountability in the payment process.
- Even after the expiry date, the demand drafts can be revalidated and presented for payment.
- Persons who do not have a bank account or are unable to make digital transactions can make secure payments through Demand Drafts.
- Once the demand draft is issued, no feature can be altered. The payee will be aware of the exact amount of payment that will be coming through.
- It creates a legal binding between the payer, issuing bank, and the beneficiary. This gives enhanced protection.
- If the DD is lost or stolen, the payer can request the issuing bank to cancel the original DD and issue a duplicate one with proper verification and authentication.
- The recipient will not incur additional charges for the issuance of a duplicate DD. The payee will have to pay nominal charges for cancellation and re-issuance of the DD.
Bandhan Bank DD Form FAQs
How to get a DD from Bandhan Bank?
● You can submit a request for DD at any branch of Bandhan Bank
● Collect the DD form and fill in the required details.
● Sign the Bandhan Bank DD form and submit it along with cash if you are making payment by cash.
● If the amount has to be taken from your Bandhan Bank account, provide your account number and the bank will deduct the amount immediately from your account and issue the DD.