Add PAYEE - Demand Draft

A Demand Draft is a pre-paid negotiable instrument, wherein the issuing bank undertakes to make payment in full when the instrument is presented by the payee. The demand draft is made payable at a specified center and can be issued in local currency as well as in (allowed) foreign currencies. A foreign currency demand draft can be requested using International Demand Draft while a pay order or local currency demand draft can be requested using Domestic Demand Draft transaction. A Demand Draft, unlike a cheque is issued by the Bank against the Bank’s own funds and hence there is a reduced risk of the draft not clearing. Application allows user to save the payee details of the draft through payee maintenance. Payee for demand drafts are of two types:

• Domestic Demand Draft
• International Demand Draft

Application also provides an additional option to have the demand draft delivered at the customer’s convenience. Two options are provided for the same:

• My address – Deliver the demand draft to customer’s address, maintained in the system
• Branch Near Me – Deliver the demand draft to any branch near the customer

How to reach here:

Toggle menu > Payments > Setups > Manage Payees > Create

1. The pop up screen appears to specify the type of payee.
   Click ‘Demand Draft’ to create Demand Draft type of payee.

Demand Draft – Domestic Draft Payee Create

Domestic Draft payee is created to initiate a request to issue a draft which is payable at location within country. Customer provides the payee details, the details of draft to be issued in favour of and the payable location.

To create domestic draft payee:

1. In the Payee Name field, enter the name of the payee for identification.
2. In the Draft Type field, select Domestic option.
3. In the Draft Favouring field, enter the name of the payee of the draft.
4. From the Draft Payable at City list, select the appropriate option.
5. In the Delivery Location field, select the appropriate draft delivery option.
1. If you select My Address option;
1. From the Select Address list, select the appropriate option.
   The complete address of user as maintained corresponding to the selected address appears.
2. If you select Branch Near Me option;
1. From the City list, select the city of the receiving branch.
2. From the Branch list, select the receiving branch.
   The complete address of selected branch appears.
6. Select the appropriate Access Type for payee.
7. Click Add to add the payee.
   OR
   Click Cancel , system asks for confirmation and on confirming, navigates to dashboard.
8. The Add Payee – Review screen appears. Verify the details, and click Confirm.
   OR
   Click Cancel , user is directed to the Add Payee screen with values in editable form.
9. The success message of add payee appears along with the transaction reference number, status, Draft Type, Draft Favouring and Payable City.
   Click Go to Dashboard to go to Dashboard.
   OR
   Click Pay Now to go to Draft Issuance screen.

Demand Draft – International Draft Payee Create

International Draft payee is created to initiate a request to issue a draft which is payable at location outside country. Customer provides the payee details, the details of draft to be issued in favour of and the payable location.

To create international draft payee:

• In the Payee Name field, enter the name of the payee for identification.
• In the Draft Type field, select International option.
• In the Draft Favouring field, enter the name of the payee of the draft.
• From the Draft Payable at Country field, select the country of the payee.
• In the City field, enter the 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 City list, select the city of the receiving branch.
• From the Branch Near Me list, select the receiving branch.
  The complete address of selected branch appears.
• Select the appropriate Access Type for payee.
• Click Add to add the payee.
  OR
  Click Cancel , system asks for confirmation and on confirming, navigates to dashboard.
• The Add Payee – Review screen appears. Verify the details, and click Confirm.
  OR
  Click Cancel , user is directed to the Add Payee – screen with values in editable form.
• The success message of add payee appears along with the transaction reference number, status, Draft Type, Draft Favouring, Payable Country and Payable City.
  Click Go to Dashboard to go to Dashboard.
  OR
  Click Pay Now to go to Draft Issuance screen.

FAQs

Can I delete payees that I no longer need to make payments to?

Yes, you can delete the payees that you no longer need.

When can I make the payment to newly added payee?

After successfully adding a payee, you may proceed to transfer funds immediately or set a future date for the transaction to take place.

Who can access the payees created with access type as ‘Private’?

Private payees can only be accessed by creator of the payee. Only creator of the payee can apply such payees while initiating payment.

Who can access the payees created with access type as ‘Public’?

Payee marked as ‘Public are visible to all the users mapped to the PartyA party is any individual or business entity having a banking relationship with the bank. ID of the user who created a payee. All users of the party will be able to view and use these payees while initiating payments, while only the creator will be able to edit and delete the payee.

If I delete or edit a payee, what will happen to the in-flight transactions?

Payee modification or deletion will not have any impact on the transactions which are initiated with a same payee and are pending for further processing. In-flight transactions will continue to progress with the data with which the transaction was initiated.

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