Demand Drafts, or DDs, are frequently used to transfer money and provide formal documentation for it. A DD ensures payment of a specific sum in the payee’s name. In any event, it cannot be transmitted to anybody else. The bank issues the DD to a client and instructs them to instruct another branch or their own branch to pay the payee a specific amount. Since these drafts are payable immediately, they are known as demand drafts. You can write to the bank and ask them to withdraw your DD if you need to cancel your DD for a specific reason. You may ensure a smooth process by using the tips in this article to produce an error-free DD cancellation letter.
DD Cancel Application
While writing a DD Cancel Application you need to take care of certain tips to write it in a formal manner. They are:
The branch manager of the bank where you submitted your DD application will get the letter cancelling your request.
The bank’s address will be on the top left corner of the document in the DD cancellation letter style. The recipient’s address must be written down.
The date will be mentioned in the format of your DD cancellation letter when the address has been written. The date is significant because it keeps track of time.
In your DD cancellation letter format, you will make reference to the subject following the date. It’s crucial to create a clear subject since it will help the receiver know what the letter is about.
In the structure of your DD cancellation letter, the salutation will be followed by the topic. You must address them formally.
You should write the content of your DD cancellation letter type after the greeting. Introduce yourself and state the reason for the letter in the opening paragraph. The money and the DD receiver must be added to the body. You may then end the letter by thanking the recipient for the attachments.
You must sign the letter at the bottom after completing the content of the letter. ‘Sincerely’ or ‘Faithfully’ are acceptable signature additions.
DD Cancellation Letter Word Format
[City, State, ZIP]
[Branch Manager’s Name]
[City, State, ZIP]
Subject: Request for Demand Draft Cancellation
Dear [Branch Manager’s Name],
I, [Your Name], holder of account number [Account Number] at your bank, am writing to request the cancellation of a demand draft that I have taken from your bank. The details of the demand draft are as follows:
Demand Draft Number: [DD Number]
Issue Date: [Issue Date]
Payee Name: [Payee Name]
Due to [mention the reason for cancellation], the above-mentioned demand draft is no longer required. The original demand draft is attached with this letter.
I am aware that the bank will incur cancellation fees in accordance with its policy. Please take these expenses out of my account number, [Your Account Number].
I humbly request that you refund the remaining cash to my account and cancel the aforementioned demand draught as soon as possible.
I appreciate your prompt attention to this issue. Please feel free to let me know if there are any other criteria or forms that I need to complete.
DD Cancellation Letter: FAQs
The letter must be addressed to the branch manager of the bank.
The tone should be formal in nature.
End the letter with formal endings like <Yours Faithfully> or <Yours Sincerely>
Yes. Different banks have different DD Cancellation Charges which you can request the bank to deduct directly from your bank account.