What is the validity period for a Demand Draft?
Demand Drafts are good for payment within 6 months from the date of issuance.
Can I cancel a valid or expired draft? Are there any charges?
Yes, you may. Please submit your cancellation request together with the original Demand Draft at any of our branches. We will credit the funds to your designated account. There is no charge for cancellation.
Can I request for a "Stop Payment" on a Demand Draft? What are the charges?
In the event that the Demand Draft purchased is lost, stolen or destroyed, you may request for payment on the Demand Draft to be stopped, and for a replacement Demand Draft to be issued or a refund of the amount of the Demand Draft purchased. You need to complete the Cashier's Order/Demand Draft – Indemnity for Stop Payment form and provide a notarized consent of the Beneficiary in writing at any of our DBS/POSB branches. Upon the confirmation from the drawee Bank that the Demand Draft has not been paid, we will return the funds to your designated account. There will be a handling charge of S$15 plus cable charge of S$20 and agent bank charges (where applicable).
Can I amend the beneficiary's name on the Demand Draft? What are the charges?
Yes, you may. Please submit your request for amendment together with the original Demand Draft at any of our branches. We will re-issue a Demand Draft with the amended beneficiary's name. There will be a handling charge of S$10 for the amendment.