demand deposit

(redirected from Demand Drafts)
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  • noun

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a bank deposit from which withdrawals can be made without notice

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References in periodicals archive ?
After the selection, candidate has to submit original Demand Draft along with 5 percent of total prescribed fee as Government Tax, he said and informed that all admissions on self Finance i.
DCP ( South) HGS Dhaliwal said: " We have recovered ( from him) a Tata Safari, a Honda City and four mobile phones he purchased using fake demand drafts.
The caller then issues a demand draft against your account for some sort of product or service, and the money is transferred by your bank to the caller's account.
which currently offers a full spectrum of commerce solutions to cash flow problems, ranging from paper bank demand drafts to point-of-sale check conversion to electronic transactions for a fraction of the cost that other companies charge.
The amount of the pay order/ demand draft for admissions to Self Finance (UEAP) category has been fixed as Rs 422,000/ and for Self Finance (UDP) as Rs 560, 000/, he said and added that if the candidate wants to apply simultaneously in both categories viz UEAP and UDP Self Finance then he / she will have to submit two separate Demand Drafts of Rs 422,000/ and Rs 138,000/.
Payments are processed as authorized demand drafts -- also called banker's drafts -- by PhoneChex Systems, a check processing service company based in Sherman Oaks, California.