1. What is a Bank Draft or Demand Draft ?
Bank Draft is likewise called every bit Demand Draft, inward short, DD. DD is a especial type of blogspot.com//search?q=what-is-cheque-definition-kinds-and">cheque. It is drawn yesteryear a blogspot.com//search?q=what-is-cheque-definition-kinds-and">bank on whatsoever of the branches of the same bank. It is used for remitting coin from 1 house to or therefore other place. It is the cheapest trend of sending money. It is an guild to pay coin on demand.
blogspot.com//search?q=what-is-cheque-definition-kinds-and">crossed. When the other political party receives it, has to acquaint it to the depository fiscal establishment for payment. It is the easiest in addition to safest agency of sending coin from 1 house to or therefore other place.
2. What is a Mail in addition to Telegraphic Transfer ?
Mail in addition to Telegraphic Transfer is or therefore other method of sending coin from 1 house to or therefore other house yesteryear using the alphabetic lineament (mail). The postal service transfer (MT) is possible entirely when the sender (remitter) in addition to the receiver (remittee) both are having depository fiscal establishment accounts inward the same bank, exactly at dissimilar branches. Generally, no charges are charged yesteryear depository fiscal establishment for postal service transfer. In this the remitter has to inform his depository fiscal establishment to transfer a for sure total from his line of piece of occupation concern human relationship to the or therefore other person's line of piece of occupation concern human relationship inward other branch of the same bank. The details of the remittee (receiver) such every bit his name, line of piece of occupation concern human relationship number, the branch where he has account, etc. must endure provided to the bank.
3. What is an Overdraft ? Explain Overdraft Facility
Overdraft is 1 type of loan given yesteryear the depository fiscal establishment to its electrical flow line of piece of occupation concern human relationship holder. When depository fiscal establishment allows the blogspot.com//search?q=what-is-cheque-definition-kinds-and">current account holder to take total over in addition to higher upward the credit remainder every bit per an understanding in addition to then it is called every bit Overdraft Facility. Overdraft is a brusque term loan exactly it tin endure continued from fourth dimension to time. Banks plow over this facility afterward taking safety or personal guarantee. This overdraft is a form of temporary loan in addition to depository fiscal establishment charges involvement on actual total which is overdrawn yesteryear the client i.e. line of piece of occupation concern human relationship holder. They are allowed to overdraw the total upward to a for sure restrict yesteryear issuing cheques to other parties or for ain line of piece of occupation concern use, from their electrical flow accounts. Overdraft facility is given generally, for few months.
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