Demand draft is one mode of an instrument payment in banking, which involves both the Drawer and the Payee. The drawer(bank) issues the demand draft which is pre-paid from the Drawees bank account.
However, sometimes complications occur and we are forced to cancel the demand draft because to prevent the pre-paid amount deducted, credit back into the Drawee’s bank account.
Here is the catch, it’s not like blocking a card or requesting a chequebook using net-banking services. But requires a letter to be dropped.
Before starting with the letter to be written to the manager, you need to figure out the exact reason for cancellation, dd number, name of the person, and also your account number to be mentioned.And please also update the styling of the letter as per your needs
Sample letter for demand draft cancellation to branch manager:
To The Branch Manager Bank Name – Change as per your bank name Branch Name – Change as per your branch name Branch Address – Change as per your branch address
Sub: Cancellation of the issued Demand Draft
Dear Sir/Mam – Change as per your bank manager’s gender
I am one of your [bank name] bank’s [branch name] branch customer and recently bank issued me a Demand Draft on my request. And some of the details as follows, the issued demand draft number – [number], issued date – [date], and the recipient name – [name].
The draft was issued for the [cause of issuing the draft]. But as an update, the draft is no longer needed. So I kindly request you to cancel my current draft as early as possible.
Also, I am ready to pay the charges and paperwork to be done for this cancellation.