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what is the difference between cheque and draft
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Answer / nitesh
# 25 There are many difference between cheque and dtaft
1. to issue cheque u have to an account in bank .
but in case of Darft it not neccessarily that u have an a/c
in bank .
2. for issueing cheque u have nothing to paid in bank .
in case of draft u have to paid the some money to make a
draft to bank .
3. CHEQUE IS USING FOR BOTH A INDIVISUAL PERSON AND A AN
ORGANIZATION BUT DRAFT IS ISSUED ONLY IN FAVOUR OF AN
ORGANIZATION
4. for chewue we have to cheque book but for draft there is
a vocher given from cheque .
5. in case of issue a cheque we need not go to the bank if
we have cheque book
but to make a draft we have to go the bank .
6. in case of cheque the amount in the a/c must compulsary.
otherwise cheque will be bounce .
but in case of draft its not compulsory we can issue a
draft to giving money to the banker .
&. draft is more secure than cheque because if there is
sign in cheque any one can cash the cheque .
but in case of the draft ts only given to the person or
organisation in which favour its made
| Is This Answer Correct ? | 1 Yes | 5 No |
Answer / amit rastogi
THE BASIC DIFFERENCE IS DEMAND DRAFT(DD) DO NOT REQUIRE A SIGNATURE IN ORDER TO BE CASHED WHILE CHEQUE REQUIRED.
| Is This Answer Correct ? | 1 Yes | 6 No |
Answer / ajaz
Both are neegotiable instruments and are payable on demand
| Is This Answer Correct ? | 49 Yes | 56 No |
Answer / bhavesh
what is the difference between cheque and draft
| Is This Answer Correct ? | 2 Yes | 12 No |
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