Issue Demand Draft

Issue Demand Draft transaction allows the customer to request the bank for issuance of a demand draft. The payee of the draft needs to be first registered through Payee Maintenance. The user then initiates a request to issue a demand draft by asking the bank to debit the account provided by user.

Prerequisites:

• Transaction access is provided to corporate user
• Approval rule set up for corporate user to perform the actions
• Transaction working window is maintained
• Required payees are maintained
• Purpose of Payments is maintained
• Transaction limits are assigned to user to perform the transaction

Features supported in application

User can request for two types drafts:

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

How to reach here:

Payments > Issue Demand Drafts > Demand Draft
OR
Dashboard > Make Your Payments > More Options > Overview > Issue Demand Drafts > Demand Draft

Demand Draft

A customer can initiate a request for a Demand Draft using this transaction. All Demand Draft payees (Domestic and International Demand Draft payees) created by the logged in user and shared by other users of the party are listed for selection. Details of selected payee are auto populated on transaction screen. Customer needs to fill in payment details to initiate the transaction.

Field Description

Field Name	Description
Favouring	Payee to whom demand draft needs to be issued. Payees maintained under a party will be listed for selection.
Delivery Mode	Mode of delivery for the selected payee as maintained.
Delivery Location	Address of the payee where demand draft is to be delivered.
Amount	Amount for which draft needs to be issued. Note: CurrencyA generally accepted form of money, including coins and paper notes, which is issued by a government and circulated with in an economy. changes as per the type of transfer.
Scheduled on	Date of transfer. The options are: Now: payment on the same day Later: payment on a later date
Transfer from	Account along with the account nickname from which transfer needs to be done. For more information on Account Nickname, click here.
Balance	Net balance in the selected account.
Note	Narrative for the transaction.

To issue the demand draft:

1. From the Favouring list, select the payee to whom demand draft needs to be issued.
   OR
   Click if you want to remove the selected payee.

Note: Click on Add Payee if there are no payee mapped to issue the demand draft.

2. In the Amount field, enter amount for which draft needs to be issued.
3. In the Scheduled on field, select the appropriate date of transfer.
4. From the Transfer from list, select the account from which transfer needs to be done.
5. Click Issue to initiate payment.
   OR
   Click Cancel to cancel the transaction.
6. The Demand Draft - Review screen appears. Verify the details, and click Confirm .
   OR
   Click Cancel to cancel the transaction.
7. The Verification screen appears if transaction is configured for OTP validation. For more information click here.
8. The success message of payment appears along with the transaction reference number.
   Click Done to complete the transaction and navigate back to ‘Demand Draft’ screen.

FAQs

Can I initiate future dated demand draft issuance request?

You can initiate future dated demand draft issuance request using scheduling later option.

What happens if I have set up a future dated draft issuance request, but don't have enough funds in my account on the transaction date for the transfer?

Balance check will not be performed at the time of transaction initiation with future date. The transaction will get declined in case of insufficient funds in the account on the given transaction date.

What happens if the transaction amount is less than set Transaction Limit?

If the transaction amount is less or more than transaction limit set by the Bank, user cannot proceed to initiate demand draft issuance request.

Can I request for demand draft issuance a payee registered as my payee but Demand draft favouring name is different?

No, using this transaction, you can initiate a demand draft issuance request to ecxisting payee and demand draft favouring details cannot be edited while initiating a request.

What happens when I add a transaction in my favorite list?

Once a transaction is marked as favorite it is displayed in customer’s favorite list. Customer can directly initiate a transfer using favorite transactions; all the transaction details are displayed on screen auto populated. User can make required changes in the details and submit the transaction for processing.

How will I receive a physical copy of a demand draft?

Bank will operationally issue a draft and mail it to the address specified while maintaining a payee.

When can I generate an e-receipt?

An option to generate an E-receipt is provided on transaction conformation screen, only if the transaction is processed in the host system.

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