PAYEE Maintenance - Demand Draft

Demand Draft is a type of a cheque drawn in favour of the payee and is payable in the city as requested by the customer. The customer requires to issue demand drafts for different purpose. Application allows customers to save the payee details of the draft through payee maintenance. Payee (BeneficiaryA person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract.) for demand drafts are of two types:

• Domestic Demand Draft: Where the draft is payable within the country
• International Demand Draft : Where the draft is payable outside the country

Application also provides an additional option ( My address, Branch Near Me) to have the demand draft delivered at the customer’s convenience.

How to reach here:

Payments Dashboard > Manage Payees > Add New Payee > Demand Draft > Add Payee

To add new payee:

• Click Add New Payee card. The pop up screen appears to specify the type of payee.

Field Description

Field Name	Description
What type of payee would you like to add?	Payee type to be maintained. The type can be: Bank Account Demand Draft

• Select the Demand Draft option for the What type of payee would you like to add? field. The Add Payee - Demand Draft screen appears.

Field Description

Field Name	Description
Payee Name	Name of the Payee for identification.
Draft Type	Type of draft associated with the Payee. The type can be: Domestic International

3. In the Payee Name field, enter the name of the payee for identification.
4. In the Draft Type field, select the appropriate option. The fields related to that option appears in the Add Payee - Demand Draft screen.

Field Description

Field Name	Description
Draft Favouring	Name of the payee of the draft.
Draft payable at Country	Country of the payee. This field is enabled if the International option is selected as Draft Type.
Draft payable at City	City of the payee.
Delivery Location	Options to deliver the drafts. The options are: My Address: Deliver either the demand draft to customer’s communication address Branch Near Me: Deliver the demand draft to any branch near to the customer Somebody I Know: Third party whom the draft is to be delivered
Below section appears if you select the My Address option in draft delivery location.
Select Address	Address where the demand draft is to be delivered. The options are: Work Residence Postal Based on the selected option, the user's address details corresponding to the selected address as maintained are fetched.
Address Details	Address for delivery of the draft. Displays the customer address like name and address along with the city, state and country of the demand draft receiver.
Below section appears if you select the Branch Near Me option in draft delivery location.
Select City	City of the receiving branch where the demand draft is to be delivered.
Select Branch	Branch name where the demand draft is to be delivered. Note: The options in this field depend on the selected option in the City field.
Branch Address	Complete address of the branch to deliver the demand draft.

• If you select Domestic option as Draft Type;
• • In the Draft Favouring field, enter the name of the payee of the draft.
  • In the Draft payable at City field, select the appropriate information.
• If you select International option as Draft Type;
• From the Draft Favouring - Country list, select country of the payee.
• From the Draft Favouring - City list, select city of the payee.
• In the Delivery Location field, select the appropriate draft delivery option.
• If you select My Address option;
• From the Select Address list, select the appropriate option.
  The complete address of user as maintained corresponding to the selected address appears.
• If you select Branch Near Me option;
• From the Select City list, select the city of the receiving branch.
• From the Select Branch list, select the receiving branch.
  The complete address of selected branch appears.
• Click Add to maintain the payee.
  OR
  Click Cancel to cancel the transaction.
• The Review screen appears. Verify the details, and click Confirm.
  OR
  Click Cancel to cancel the transaction.
• The success message appears.
  Click Done to complete the transaction.
  OR
  To initiate a payment to the added payee, click Pay.

Note: For more information on managing payee, click here.

FAQs

What is account payee demand draft?

The demand draft is drawn in favour of creditor (the person whom you have to pay), he is payee.

What is difference between the demand draft and cheque?

Demand drafts are orders of payment by a bank to another bank, whereas cheques are orders of payment from an account holder to the bank.

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