Demand drafts can be issued by ICICI Bank to both customers and non-customers with an account. Savings account holders with ICICI Bank may apply for a demand draft both online and offline, while new clients must go to a branch of the bank to get one.
Features of ICICI Bank DD
Demand drafts from the ICICI Bank provide a safe means to transmit and receive payments and are payable on demand.
Demand Drafts must be paid for by the drawer in order for the bank to issue one, and they are difficult to counterfeit. Due to the high likelihood of fraud and check dishonour rates, demand drafts are preferred over checks by the majority of businesses and organisations for this reason as well.
A demand draft also cannot be paid to the bearer; instead, the payee (receiver) must produce the document to the bank.
Demand drafts are frequently collected by the bank using its clearing procedures.
When two parties are unfamiliar with one another, demand drafts are an excellent technique to obtain money.
ICICI DD Form – Online
Demand Drafts are also available online. However, in order to use this service, clients must have their individual savings account’s Internet banking service active. Additionally, the bank only provides this service at specific locations. To issue an ICICI Bank demand draft, you must adhere to the guidelines given below:
Use the ID and password supplied to access your online banking.
‘Instabanking Services’ may be found under ‘Services’.
You must choose ‘Request DD/PO’ in the following step.
You only need to fill out the necessary information at this point.
You must provide information such as the account number, name of the account holder, payee’s name, DD for Rs., payee’s location, cheque number, cheque date and your cellphone number. Next, select “Submit.”
Following payment, you will be given a transaction reference number and DD information. For the bank’s records, print off the page and retain it.
ICICI DD Form – Offline
If the customers are wanting to request DD offline, then the customers will have to walk into any branch of the bank and make a demand draft by filling up the demand draft form. They need to fill up the following details
Details of the beneficiary
Account number
Amount of DD
Address payable at
Signature
Date
ICICI DD Charges
TYPE | CHARGE |
DD ISSUE | Up to Rs. 10,000 = Rs. 50 per DD, Rs. 5 per thousand rupees or part thereof for DD of more than Rs. 10,000 (Min. of Rs. 75 and Max. of Rs. 15,000) For Senior Citizens, Students, Rural locations = Up to Rs. 10,000 = Rs. 40 Above Rs. 10,000 till Rs. 50,000 = Rs. 60 Above Rs. 50,000 = Rs. 5 per thousand rupees or part thereof (Max. Rs. 15,000) |
DD Issue by Cash | Rs. 5 per Rs. 1,000 or part thereof (Min. Rs. 100 and Max. Rs. 15,000) |
DD Cancellation/ Duplicate/ Revalidation | Up to Rs. 200 = NIL Above Rs. 200 = Rs. 100 |
ICICI Bank DD – FAQs
The time it takes ICICI Bank to issue a demand draft is 3 to 5 minutes.
A demand draft has a three-month expiration period from the date of issuance.
The only individual who can cash a demand draught is the one to whom it must be payable. The demand draught may not be cashed by anybody else on your behalf.
Being an irreversible instrument, a demand draft cannot be rejected once it has been issued.
If you fail to encash a demand draft and it has expired, you will have to write an application to the bank to re-validate it.