Add Payee - Demand Draft
A Demand Draft is a pre-paid negotiable instrument. 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 centre 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 the Domestic Demand Draft transaction. A Demand Draft, as compared to a cheque is issued by the Bank against the Bank’s own funds and hence there is a reduced risk of the cheque not clearing. Users are able to save the payee details of the draft through payee maintenance. 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:
The 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 either the demand draft to customer’s communication address
- Branch Near Me – Deliver the demand draft to any branch near to the user.
How to reach here:
Dashboard > Payments Widget > Manage Payees & Billers > Add New Payee > Demand Draft > Add Payee
OR
Toggle Menu > Payments > Manage Payees & Billers > Add New Payee > Demand Draft > Add Payee
OR
Dashboard > Payments Menu > Manage Payees & Billers > Add New Payee > Demand Draft > Add Payee
To add a new demand draft payee:
- Click the Add New Payee link on the Manage Payees screen. The pop up screen on which to specify the transfer type i.e. bank account or demand draft, appears.
Field Name |
Description |
---|---|
What type of payee would you like to add? |
The transfer type of the new payee. The type can be:
|
- Select the Demand Draft option click , to create Demand Draft type of payee. The Add Payee screen appears.
Add Payee - Domestic Demand Draft
A Domestic Draft payee is created to initiate a request to issue a draft which is payable at a location within the country. The user provides the payee details, the details of draft to be issued in favour of and the payable location.
To create a domestic demand draft payee:
Add Payee - Domestic Demand Draft
Field Name |
Description |
---|---|
Payee Name |
Specify the name by which the payee is to be identified. |
Draft Type |
Select the type of draft to be associated with the Payee. The options are:
|
Draft Favouring |
The name of the payee i.e. the intended recipient of the funds. |
Draft Payable at City |
The name of the city in which the draft is payable. |
Delivery Location |
Select the option to identify where you would like the draft delivered. The options are:
|
The following section appears if you select the Branch Near Me option as draft delivery location. |
|
City |
Select the name of the city to filter the branches so as to be able to select a branch in the city of your choice. |
Branch Near Me |
Select the branch at which you would like the draft to be delivered. |
Branch Address |
The complete name and address of the selected branch is displayed. |
The following section appears if you select the My Address option as draft delivery location. |
|
Select Address |
Select the address at which you want the draft to be delivered. The options are:
|
Address Details |
The details of the selected address are displayed. |
- In the Payee Name field, enter the name of the payee for identification.
- In the Draft Type field, select the option Domestic.
- In the Draft Favouring field, enter the name of the payee of the draft.
- In the Draft Payable at City field, select the name of the city at which the draft is to be payable.
- In the Delivery Location field, select the appropriate draft delivery option.
- If you select the Branch Near Me option;
- From the City list, select the city so as to filter the branches based on city of choice.
- From the Branch Near Me list, select the branch at which you want the draft to be delivered.
The complete address of selected branch appears. - If you select the My Address option;
- From the Select Address list, select the option of choice.
The complete address of the user as maintained corresponding to the selected address appears.
- Click
OR
Click to cancel the transaction.
OR
Click the Back to Dashboard link, to navigate to the dashboard.
to add a payee. - The Add Payee - Review screen appears. Verify the details, and click
OR
Click to cancel the transaction and to navigate back to ‘Dashboard’.
. - The success message appears along with the draft details.
Click Go to Dashboard, to navigate to the dashboard.
OR
Click More Payment Options to access other payment options.
OR
Click Pay Now to initiate draft issuance to the added payee.
OR
Click Setup Payee Limits to assign limits (daily and/or monthly) to the payee’s account.
Add Payee - International Demand Draft
An International Draft payee is created to initiate a request to issue a draft which is payable at a location outside the country. The user provides the payee details, the details of draft to be issued in favor of and the payable location.
To create an international demand draft payee:
Field Name |
Description |
---|---|
Payee Name |
Specify the name by which the payee is to be identified. |
Draft Type |
Select the type of draft to be associated with the Payee. The options are:
|
Draft Favoring |
The name of the payee i.e. the intended recipient of the funds. |
Draft payable at Country |
The name of the country in which the draft is payable. This field is enabled if the International option is selected as Draft Type. |
City |
The name of the city in which the draft is payable. |
Delivery Location |
Select the option to identify where you would like the draft delivered. The options are:
|
The following section appears if you select the Branch Near Me option as draft delivery location. |
|
City |
Select the name of the city to filter the branches so as to be able to select a branch in the city of your choice. |
Branch Near Me |
Select the branch at which you would like the draft to be delivered. |
Branch Address |
The complete name and address of the selected branch is displayed. |
The following section appears if you select the My Address option as draft delivery location. |
|
Select Address |
Select the address at which you want the draft to be delivered. The options are:
|
Address Details |
The details of the selected address are displayed. |
- 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.
- In the Draft Payable at Country field, select the country in which the draft is to be payable.
- In the City field, enter the name of the city at which the draft is to be payable.
- In the Delivery Location field, select the appropriate draft delivery option.
- If you select Branch Near Me option;
- From the City list, select the city so as to filter the branches based on city of choice.
- From the Branch Near Me list, select the branch at which you want the draft to be delivered.
The complete address of selected branch appears. - If you select My Address option;
- From the Select Address list, select the option of choice.
The complete address of the user as maintained corresponding to the selected address appears.
- Click
OR
Click to cancel the transaction.
OR
Click the Back to Dashboard link, to navigate to the dashboard.
to add a payee. - The Add Payee - Review screen appears. Verify the details, and click
OR
Click to cancel the transaction and navigate back to ‘Dashboard’.
. - The success message appears along with the draft details.
Click Go to Dashboard, to navigate to the dashboard.
OR
Click More Payment Options to access other payment options.
OR
Click Pay Now to initiate draft issuance to the added payee.
OR
Click Setup Payee Limits to initiate set-up daily limits and monthly limits.
FAQs
When can I make the payment to newly added payee?
If I delete or edit a payee, what will happen to the in-flight transactions?