Barclays Bank DD

Can you tell en in details about the Demand (or Banker's) Draft policy of Barclays Bank in India as I want to make a transaction through it, please help me with this?

[Kiran Chandar]

A Direct Debit can only be set up by the organization to which one is making a payment. In general, one signs a mandate that gives the company permission to take funds from one’s account in an agreed way.
It normally confirms who is receiving the payment, the account to be debited, the amount and the dates of the payment.

Barclays Bank DD

If person or firm or organization resident in India desires to transfer funds from India to any place outside India, it gives rise to a foreign outward allowance.

Barclays Bank is an authorized dealer and has been delegate powers to affect outward remittances on behalf of the constituents subject to certain conditions and subject to completion of certain formalities, as detail in the Exchange Control Manual.

Barclays can assist in sending money to beneficiaries located outside of India in either of the two ways:

Demand (or Banker's) Draft

This is a means of initiating a transfer from one’s account to a named payee.

One can send the Demand Draft to one’s intended payee, who will then be able to take the Draft into their bank – following presentation of this Draft, and then receive payment.

A Demand Draft made payable to a non-Barclays account incur a charge of Rs 3.5 per Rs 1,000 sent (minimum charge Rs 100)

A Demand Draft made payable to a Barclays account and a Foreign currency DD incur a flat-rate charge of Rs 300.

International SWIFT Transfer

It is a secure, quick and efficient method of transferring funds, which enables you to send money easily to any bank which is part of the SWIFT network.

There is a flat-rate charge of Rs 500 for each SWIFT transfer made from your account.

There is no charge when make a transfer from Barclays NRI account in India to a Barclays account in UK or UAE.