Question
Show the difference pay order and Demand Draft.
| Points | Pay order | Demand Draft |
| Payable | Order to the bank itself by the bank. | Order to its own branch or representative bank. |
| Parties | Receiver and payer in the same. | Receiver of the money and cheque drawer is different. |
| Utility | For paying money to government. | For sending money and anywhere outstation. |
| Expenses | No expense | Commission is to be paid bank. |
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