Difference Between
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    Difference Between
    Subscribe
    • Home
    • Politics
    • Banking
    • General
    • Automobile
    • Education
    • Business
    Difference Between
    Home»Banking»Difference Between Pay Order And Demand Draft In Pakistan
    Difference Between Pay Order And Demand Draft In Pakistan
    Banking

    Difference Between Pay Order And Demand Draft In Pakistan

    ahmedBy ahmedJuly 7, 2018No Comments2 Mins Read

    Those people, parties even financial institution has vary thinking paradigm about the few terms. The basic terms that may make their financial terms as formal as it should be. The banking world is new insight of dictionary with economic minds. The physical banking is much tough because minor mistake in developing the document to make all procedure again. Therefore, page is going to gave you opportunity to know about the Difference Between Pay Order And Demand Draft In Pakistan. The manual understanding in banking is tough thing but you should know the basic terms about the banking here. The purpose of both documents are same but with different procedure. The usages of demand draft is different as compare to pay order.

    Demand Draft or DD

    According to the financial rules set in the Pakistan demand draft is pre-paid negotiable instrument. In this situation drawee bank acts as guarantor to make the payment, whenever and wherever the instrument is being presented, there is no delay in payment by the bank to the party. If the payment made outside a city then demand draft uses as financial instrument. This instrument cannot be dishonoured  because all payment made before. If the demand draft value is more than Rs. 20,000 or more then that of amount then a A/C crossing can be use.

    Difference Between Pay Order And Demand Draft In Pakistan

    Difference Between Pay Order And Demand Draft In Pakistan

    Pay order or Banker’s Cheque

    The same city transaction can be done with the Pay order or also known a banker’s cheque. It is made by the bank on the request of the customer. The amount is prepaid here as well. Remember, that pay order is valid for three months.

    check out: Difference Between Monetary Policy And Fiscal Policy In Pakistan

    Key Difference Between Pay Order And Demand Draft In Pakistan

    Here we are going to share you the Difference Between Pay Order And Demand Draft In Pakistan

    Demand Draft Pay Order
    Demand draft issued to the specific person from bank of specific person resided in another city from the city of bank. Pay order issued to the specific person from bank of specific person within city
    Demand Draft also known as negotiable instrument It has pre-printed text as “NOT NEGOTIABLE”
    Any branch of same bank is only authorized to pay Pay order needs clearance in any branch of city

     

     

    Share. Facebook Twitter Pinterest LinkedIn Reddit Email WhatsApp
    Previous ArticleDifference Between Monetary Policy And Fiscal Policy In Pakistan
    Next Article Difference Between Cheque And Demand Draft In Pakistan

    Related Posts

    Empowering Dreams: How CEBA Loan Refinancing Helps Small Businesses

    Difference Between Debit Card And Credit Card

    Difference Between Islamic Banking And Conventional Banking In Pakistan

    Latest Posts

    HBOT: A breakthrough in treating Thermal Burns

    December 8, 2023

    Preventing a Tyre Blowout in UAE Summer

    December 8, 2023

    Career opportunities after MA degree

    December 7, 2023

    Stay Comfortable and Stay Productive: MotionGrey Office Chair Canada:

    December 7, 2023

    The Ultimate 6 Things to Consider Before Buying a New Air Conditioner

    December 7, 2023
    Categories
    • All
    • Automobile
    • Banking
    • Business
    • Education
    • Fashion
    • Finance
    • General
    • Health
    • Law
    • Mobile
    • News
    • Politics
    • Science
    • Social
    • Sports
    • Technology
    • Time Difference
    • Tips
    Facebook Twitter Instagram Pinterest
    • Home
    • Contact Us
    • Privacy Policy
    © Copyright 2023, All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.