What is the difference between check and draft?
Cheque and Demand draft(DD) both are used to make the payments.
S.no | Cheque | Demand Draft |
---|---|---|
1. | It is issued by the customer | It is published by the bank |
2. | Payment is made after depositing the cheque | Demand draft is issued after giving the money to the bank |
3. | Signature is required in cheque | Signature is not required in DD |
4. | It can bounce | It cannot be dishonored |
BY Best Interview Question ON 01 Feb 2021