can demand draft be stop for payment?

Question

if a person give me a demand draft making through his internetingbanking in favour of me. further can person be stop that Demand draft for payment.

Answer 1

only payee can lodge a complaint,if lost or destroyed.

the issuing bank can then - on instructions from the purchaser (also from the payee) of the draft - can inform concerned branch to stop payment and issue a fresh draft.

issuing bank can also cancel the draft if the original draft is presented for cancellation.

in the absence of the original draft, issuing bank will not cancel or stop payment of the draft.

Answer 2

In internet banking the transaction is almost immediate.



DD stopping is difficult. The money from your A/c is reduced to the DD value + commission, It goes to the bankers A/c. The bankers can stop provided you have a genuine reason like you yhave been fooled or have done excess payment etc. and there would be a deduction of charges, for stopping. The procedure is long.

Answer 3

Yes, It would be better to contact the isuing bank to find out the cause and to find a proper way to go ahead.