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:

• Domestic Demand Draft
• International Demand Draft

The application also provides an additional option to have the demand draft delivered at the customer’s convenience. The following are provided for the same:

• My address – This option enables the user to select a branch of the bank (issuing bank) at which the draft is to be delivered.
• Branch Near Me –This option enables the user to specify which registered address of the user (out of the user’s work, residential or postal address) the draft is to be delivered at.
• Other Address: This option enables the user to specify an address at which the draft is to be delivered. The user can select this option if he wishes to have the draft delivered to an address that is different from that of any of the bank’s branches or any of the user’s registered addresses.

How to reach here:

Dashboard > Payments Widget > Manage Payees & Billers > Add New Payee > Demand Draft > Add Payee

OR

Dashboard > Toggle Menu > Payments > Setups > Manage Payees & Billers > Add New Payee > Demand Draft > Add Payee
OR
Dashboard > Payments Menu > Add New Payee > Demand Draft

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.

• Select the Demand Draft option click Ok, 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 draft payee:

Add Payee - Domestic Demand Draft

1. In the Payee Name field, enter the name of the payee for identification.
2. Click on the Upload Photo link to upload a photo against the payee. .

3. Note:
   Once a photo is uploaded against the payee, the options Change and Remove appear against the photo.
   Click Change to modify the uploaded payee photo.
   OR
   Click Remove to delete the uploaded payee photo.
   

3. In the Draft Type field, select the option Domestic.
4. In the Draft Favouring field, enter the name of the payee of the draft.
5. In the Draft payable at City field, select the name of the city at which the draft is to be payable.
6. In the Delivery Location field, select the appropriate draft delivery option.
1. If you select Branch Near Me option;
1. From the City list, select the city so as to filter the branches based on city of choice.
2. 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.
2. If you select My Address option;
1. From the Select Address list, select the option of choice.
   The complete address of user as maintained corresponding to the selected address appears.
3. If you select the option Other Address; specify address at which the demand draft is to be delivered.
1. In the Address 1-2 field, enter the address at which the draft is to be delivered.
2. In the City field, enter the name of the city at which the draft is to be delivered.
3. In the State field, enter the name of the State in which the draft is to be delivered.
4. In the Zip Code field, enter the zip code of the address at which the draft is to be delivered.

• Click Add to add a payee.
  OR
  Click Cancel to cancel the transaction.
  OR
  Click the Back to Dashboard link, to navigate to the dashboard.
• The Add Payee - Review screen appears. Verify the details, and click Confirm.
  OR
  Click Cancel to cancel the transaction and to navigate back to ‘Dashboard’.
  OR
  Click Back to return to the Add Payee screen.
• 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:

1. In the Payee Name field, enter the name of the payee for identification.
2. Click on the Upload Photo link to upload a photo against the payee.

3. Note: Once a photo is uploaded against the payee, the options Change and Remove appear against the photo.
   Click Change to modify the uploaded payee photo.
   OR
   Click Remove to delete the uploaded payee photo.
   

3. In the Draft Type field, select International option.
4. In the Draft Favouring field, enter the name of the payee of the draft.
5. In the Draft Payable at Country field, select the country in which the draft is to be payable.
6. In the City field, name of the city at which the draft is to be payable.
7. In the Delivery Location field, select the appropriate draft delivery option.
1. If you select Branch Near Me option;
1. From the City list, select the city so as to filter the branches based on city of choice.
2. 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.
2. If you select My Address option;
1. From the Select Address list, select the option of choice.
   The complete address of user as maintained corresponding to the selected address appears.
3. If you select Other Address option; specify address at which the demand draft is to be delivered.
1. From the Country field, select the country in which the draft is to be delivered.
2. In the Address 1-2 field, enter the address at which the draft is to be delivered.
3. In the City field, enter the name of the city at which the draft is to be delivered.
4. In the State field, enter the name of the State in which the draft is to be delivered.
5. In the Zip Code field, enter the zip code of the address at which the draft is to be delivered.
8. Click Add to add a payee.
   OR
   Click Cancel to cancel the transaction.
   OR
   Click the Back to Dashboard link, to navigate to the dashboard.
9. The Add Payee - Review screen appears. Verify the details, and click Confirm.
   OR
   Click Cancel to cancel the transaction and navigate back to ‘Dashboard’.
   OR
   Click Back to return to the Add Payee screen.
10. 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?

After successfully adding a payee, you may proceed to transfer funds only after the cooling period (the time set by the bank during which fund transfer is not allowed to a newly added payee) or you may set a future date for the transaction to take place.

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 towards the payee and that are pending further processing.

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