Draft Issuance

The Issue Demand Draft transaction enables users to request the bank to issue demand drafts towards payees. In order to initiate a demand draft issue request, the user has to first ensure that the payee i.e. the recipient of the demand draft is registered as a demand draft payee through the Manage Payees feature. Once the payee is registered, the user can initiate a request to the bank to issue a demand draft by specifying details such as the amount for which the draft is to be drawn, the account from which the funds are to be debited as well as the date on which the draft is to be drawn.

Prerequisites:

Features supported in application

User can request for two types of drafts:

workflow

You are here How to reach here:

Dashboard > Toggle menu > Payments > Payments > Issue Demand Draft > Draft Issuance
OR

Toggle menu > Payments > Setups > Payees > Demand Draft
OR
Dashboard > Quick Links > Issue Draft

Draft Issuance

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.

E-Receipt gets generated on successful completion of transaction. E-Receipt gets displayed in Activity Log detailed view.

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

Delivery address for the drafts.

Amount

Amount for which draft needs to be issued.

View Limits

Link to view the transaction limits for the user.

Scheduled On

Date of transfer.

The options are:

  • Now: payment on the same day
  • Later: payment on a later date

Transfer Date

Date of transfer.

This field is enabled if the Later option is selected in Transfer when field.

Transfer from

Account with the account nickname from which transfer needs to be done (if the user has added a nickname, for the account).

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.
  2. In the Amount field, enter amount for which draft needs to be issued.
    OR
    Click the View Limits link to check the transfer limit.
  3. In the Scheduled On field, select the appropriate date of transfer.
  4. If you select the Now option, transfer will be done on same day.
    OR
    If you select Later option in the Scheduled On field, select the appropriate future date.
  5. From the Transfer From list, select the account from which transfer needs to be done.
  6. Click Issue to initiate payment.
    OR
    Click Cancel to cancel the transaction.
  7. The Draft Issuance - Review screen appears. Verify the details, and click Confirm.
    OR
    Click Back to back go to previous screen.
    OR
    Click Cancel to cancel the transaction and go back to the Dashboard.
  8. The success message appears along with the transaction reference number, host reference number, status and draft details.
    Click Go To Dashboard to go to Dashboard screen.
    OR
    Click Add Favorite to mark the transaction as favorite. The favorite transaction is added. For more information, click here.
    OR
    Click the e-Receipt link to download the electronic receipt. For more information, click here.

FAQs

ClosedCan I initiate future dated demand draft issuance request?

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

Closed 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.

Closed 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.

ClosedCan 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 existing payee and demand draft favouring details cannot be edited while initiating a request.

Closed 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.

ClosedHow 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.

ClosedWhen can I generate an e-receipt?

The user can generate an E-receipt of the transaction, after transaction has been processed, in the Core Banking application.

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