How to cancel a Demand Draft/Banker cheque in india

Demand Draft is a type of negotiable instrument issued by a bank to his customer on his request ordering another bank or its other branches on any corner of the country to pay the amount specified on the Demand draft to the payee specified on the demand draft on the presentation of the same. Nowdays Demand draft is one of the popular medium of making payment as this is considered one of the safe method for payment both for the receiver and the issuer.

In this article we will learn as to how one can cancel a Demand Draft/Banker cheque. Thus when stage of draft cancellations comes the first things which comes in mind is that whether the draft will able to cancel and secondly, whether the bank would return the money back after draft cancellation. The answer is yes,for both successful draft cancel and return of money back but one should apply for its cancellation before its term of 3 months expires. Yes you read it right, the expiry of a Bank draft is of 3 month starting from the date it was prepared as stated on the top of the the draft under date coloumn.

Read Here:
Various Banking Services provided in India

Money transferred in wrong account. Here’s the solution

Types of Bank Deposits in India

How to cancel a Demand Draft/Banker cheque in India

What is Cheque. What are the different types of Cheques in India ?

How to change Registered mobile number with Bank with new ( Letter Sample)

How to easily apply for new Cheque Book of any Bank (Best Method)

How to draw Cheque properly

Steps to be followed in order to cancel a Demand Draft:

In order to cancel a Demand Draft one has to write a letter addressing to the manager as to why you are cancelling the Demand Draft. You can give any reason its not compulsory to state the real reason behind cancelling the Demand Draft. A sample letter in MS-Word file format has been attached below  for your convenience from where you can download the file.

Below the letter the person has to sign ( the person who is signing in the letter below should be the same person who filled the DD form an signed in the draft form at the time of preparation )  in reference to security purpose.

The Bank Charges Rs.100 as cancelling charges and return  rest of your money.

In some Bank like SBI, one has to paste a one rupee revenue stamp at the back of the Demand Draft and also sign across on the revenue stamp  in order to process successful draft cancellation.

So, if one goes for draft cancellation one should keep the obove points in mind for successful draft cancellation.

Read Here:
Cheque Deposit machine – how to deposit cheque learn

What is the difference between saving and Current account

How to write a letter to the bank manager to close bank account

Sample letter to bank manager to intimate for money transferred in else account

How to change registered mobile number in Bank by writing letter to manager

Thanks for spearing time reading this article

 

Banking Finance

This website is all about tech and banking tutorials in simple languages so that one can easily get their doubt solved easily

Leave a Reply

Your email address will not be published. Required fields are marked *