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What is at par DD?

Author

Penelope Carter

Updated on March 01, 2026

What is at par DD?

An at par cheque is payable at any branch of the issuing bank, without any excess charges to the bearer of the cheque. In particular, cases were found where co-operative banks opened current accounts with commercial banks and issued a large number of at par cheques even to walk in customers.

Also asked, are DD payable at par?

Since the bank will pay the payee, a Demand Draft is safer as compared to a cheque. Another reason why DD is still popular is that it can only be paid to the drawee.

CRIF HIGH MARK TERMS. AND CONDITIONS.

Field in the DDField Details
Amount (in words)The amount payable to the drawee in words

Additionally, what does DD payable at means? ________________________ A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee).

Also, what is payable at par at all branches means?

The words “payable at par at all CBS branches” printed on top of the multi city cheques means. that it is payable at par for the third party payee/beneficiary of the cheque. For Multi City Cheque accounts, all charges will be debited to Drawer's account only.

How do you know if a Cheque is at par?

An at par cheque is payable at any branch of the issuing bank, without any excess charges to the bearer of the cheque.

Can DD be deposited in any bank?

In case the Demand Draft is Crossed as Account Payee, it cannot be encashed over the counter from the Bank Branch and can only be cleared by depositing in the Bank Account of the Person in whose favor the DD has been made.

Can we make DD in any bank?

Bankers cheque can be cleared in any branch of the bank provided it comes under the local jurisdiction, but Demand Draft can be cleared at any branch of the same bank irrespective of the city.

How long does DD clearance take?

The time frame or the clearing time of a DD varies between banks. They are usually cleared within half an hour, or by the end of the working day. Some banks can take up to three working days. Also, if the DD is for a large amount, it will only be credited to a bank account and not provided as cash.

How do I check my DD clearance status?

How to Track the Status of Demand Drafts? The validity of a demand draft is currently 3 months from the date of issue of the DD. If you want to track the status of the DD, visit your bank and find out if the DD was encashed or not.

What information do I need for a bank draft?

You usually have to include the name of your bank, the type of your bank account, your name as it appears on your bank account statements and your bank account number. You may also have to provide the bank's details, such as phone number, address and transit number.

How can I pay by DD?

How to Get a Demand Draft Issued
  1. Visit the bank where you have your account.
  2. Draw cash in the name of “self”
  3. Ask the bank teller to give you the form needed to be filled for making the demand draft.
  4. Fill in the details and submit the form along with the cheque.

Can DD be Cancelled?

Cancellation of Demand Draft

You will have to go to your branch and make a request for the cancellation of your demand draft. If you got the DD through cheque, then you simply need to present the DD and the amount will be reverted to your account after the said deductions.

How can I withdraw money from demand draft?

How to Encash Demand Draft
  1. The person who receives the demand draft has to present the draft to his/her bank branch.
  2. The bank asks for specific documents to initiate the payment procedure.
  3. Once the documents are verified, the amount is transferred to the bank account of the individual.

What is mean by at par?

at face value

What is multi City Cheque in SBI?

Policy on Multi City Cheques (MCC):

MCC is a cheque drawn by a customer in favour of a person/entity named therein and is payable at par at all branches of SBI, subject to detailed terms and conditions as under: a) The payee can present the cheque directly at any of our branches or in clearing through his bank.

What is multi City Cheque?

2. General: Definition of Multi-city cheque: Multi-City Cheque (MCC): It is a cheque drawn by a customer of the Bank in favour of a person/entity named therein and is payable at par at all branches of the Bank, subject to detailed terms and conditions as under.

What is CTS full form?

Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques.

What is CTS clearing?

Cheque Truncation System (CTS) is a process of clearing cheques electronically rather than processing the physical cheque by the presenting bank en-route to the paying bank branch. It is a step undertaken by the Reserve Bank of India (RBI) for quicker cheque clearance.

What is a bearer Cheque?

What is a Bearer Cheque? A bearer cheque can be used to be payable as Cash or bearer with a specific name. The cheque is payable over the counter to the bearer or the presenter of the cheque by the drawee bank. A bearer cheque can be transferred to another person.

What is meant by demand draft?

A demand draft is a method used by an individual to make a transfer payment from one bank account to another. Demand drafts differ from regular normal checks in that they do not require signatures to be cashed.

What does payee mean?

A payee is a party in an exchange of goods or services who receives payment. The payee is paid by cash, check, or another transfer medium by a payer.

What is the order Cheque?

An order cheque is one that can only be paid to a particular payee, who can only pass the cheque to another person by signing his or her name behind it. Whilst bearer cheque does not requires you not to cancel the printed words 'bearer' on the cheque, just to fill the amount you want withdrawn.

Why is DD used?

DD is used to transfer money by an individual from one city to another person in a different city. Pay order are pre-printed with "NOT NEGOTIABLE". Pay order to be cleared in any branch of the same city. DD can be cleared at any branch of the same bank.

What is DD in India?

One of the payment instruments used in India, demand draft is popularly known as DD. It is a pre-paid negotiable instrument where the drawee bank takes the responsibility of making the payment when the DD is presented by the payee.

What are the three types of checks?

Types of checks include certified checks, cashier's checks, and payroll checks, also called paychecks.

What are the different types of bank checks?

Here's what you need to know about five types of checks beyond personal checks and when you might encounter them.
  • Cashier's check, bank check, or official check.
  • Certified check.
  • Money order.
  • Electronic check.
  • Giant check.

Can bearer Cheque be deposited in Account?

The bearer cheque does not contain the name of the payee and is payable to the person who presents it at the bank. However, the cheque can be used to credit the bank account directly. In case of a bearer cheque, the bank must do proper verification before making payment to the bearer of the instrument.

What is crossing Cheque and its types?

General Crossing – cheque bears across its face an addition of two parallel transverse lines. Special Crossing – cheque bears across its face an addition of the banker's name. Restrictive Crossing – It directs the collecting banker that he needs to credit the amount of cheque only to the account of the payee.

Who is not a party to a Cheque?

Acceptor

How is an order Cheque transfer?

When the word “or bearer” printed on the cheque is cancelled and and the word 'order' may be written on the cheque, the cheque is called an order cheque. An order cheque is one which is payable to a particular person. The payee can transfer an order cheque to someone else by signing his or her name on the back of it.

Is it check or Cheque?

Cheque is the British English spelling for the document used for making a payment, whereas American English uses check.

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