CHEQUE
Both are used for transfer the amount b/w two accounts of same or different Bank.
Cheque is a negotiable instrument instructing a bank to pay a specific amount from a specified account held in the maker/depositor's name with that bank. A bill of exchange drawn on a specified banker and payable on demand.
"WRITTEN ORDER DIRECTING A BANK TO PAY MONEY".
A cheque is written by an individual and withdrawn from the account but a cheque can be dishonoured for lack od funds but a DD cannot
DEMAND DRAFT
Demand draft is an instrument used for effective transfer of money.It s a negotiable instrument.
You can 100% trust a DD. It is a banker's cheque issued by a bank where you have to pay before issuing.
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