ICICI Bank actively encourages digital transfers over DDs:
source: Icici Bank website and Banking websites.
If you have issued a DD but the transaction has fallen through, you can cancel the draft. However, this incurs a separate fee.
A demand draft is a prepaid instrument issued by a bank on behalf of a customer, directing another branch of the same bank or another bank to pay a specified sum to a named beneficiary. While real-time gross settlement (RTGS), national electronic funds transfer (NEFT), and immediate payment service (IMPS) have reduced DD usage, DDs are still required for certain applications (e.g., university admissions, exam fees, tenders) where electronic proof of payment may not be accepted.
ICICI Bank actively encourages digital transfers over DDs:
source: Icici Bank website and Banking websites. demand draft charges in icici bank
If you have issued a DD but the transaction has fallen through, you can cancel the draft. However, this incurs a separate fee. ICICI Bank actively encourages digital transfers over DDs:
A demand draft is a prepaid instrument issued by a bank on behalf of a customer, directing another branch of the same bank or another bank to pay a specified sum to a named beneficiary. While real-time gross settlement (RTGS), national electronic funds transfer (NEFT), and immediate payment service (IMPS) have reduced DD usage, DDs are still required for certain applications (e.g., university admissions, exam fees, tenders) where electronic proof of payment may not be accepted. you can cancel the draft. However