Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / priyank kaushik
Both pay orders and demand drafts are used by individuals
to make transfer payments from one bank account to another.
The main difference between the two is that while a demand
draft is a written order directing the payment to be made
to a third party outside your city, a pay order is drawn
for the third party within your city.
They both are, however, different from cheques in that they
don’t require a signature in order to be cashed. The
banking dictionary refers to the person writing the draft
as the drawee, the bank making the payment is the drawer,
or the payor bank. The beneficiary of a demand draft, the
person receiving the payment, is the payee. Charges for
demand drafts and pay orders are independent of inter- or
intra-city transactions but are calculated as a percentage
on the amount of the draft or pay order.
| Is This Answer Correct ? | 68 Yes | 11 No |
Post New Answer View All Answers
What are the major responsibility's of an accountant? what are the qualities he /she requires?
Can I check my Vantage credit score range online?
what do Loan Loss Coverage Ratio mens describe it with examples?
Questions asked for the post of Manager (Finance) in a Public Sector company Subject of group discussions for the post of Manager (Finance) in a Public Sector company
Expand-------ACNS
What is written off?
what is a meaning of track record in tally software when we maintain the inventory entry what is role of track record
how history is helpful for banking?
Hai i am mathi Preparing for bsrb clerical examinations.If anybody had that please mail me at mathiy@rediffmail.com
we are run construction (residence & commercial)last year we are sale 4 flats (16 flats apartment) registration value example:10.75 * 4 = 43.00 but we are collected from customers 45.00 total so 45 - 43 = 2.00 this amount we are booking additional agreements work amount (income)because we are standing sub contractors expendeture side 2.00, we are service tax paid or not ?
AN ESTIMATE OF ASSETS AND LIABILITIES ON AGIVEN DATE
Expand---------NMOP
How to maintain Purchase Orders ? Please explain by proper format.
if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?
what are micro-cap, small-cap, mid-cap, large-cap companies?
