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Demand Draft (DD)
Demand drafts are a very popular instrument for sending money overseas. They are issued by a bank, where the customer
holds an account, in favor of a certain beneficiary (an individual, a company or an establishment). Demand drafts are
secured payment instruments and guarantee the availability of funds since a bank issues them. For this reason, certain
establishments (such as universities etc.) only accept DDs and not personal cheques. Demand draft transactions require
the customer to enter the beneficiary's personal details.
Wire Transfer (TT)
Wire Transfers are also a very common method of remitting money overseas. Using this method, funds can be transferred
electronically to a foreign bank account. International wire transfers are processed using the SWIFT protocol and require
the customer to enter the beneficiary's personal details and bank details (bank name, routing number and account
number). This service can avail by all persons wants to send money to overseas in following purpose:
1. Overseas University Education Fee
2. Student Living Expenses
4. Medical Expenses
5. Sending money to close relatives.