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Investment Simplified > Banking > Cancelled Cheque
Banking

Cancelled Cheque

Monika Mohan
Monika Mohan January 12, 2023 2 Min Read
Updated 2023/01/12 at 1:19 AM
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What is a cancelled cheque? Have you ever wondered this? And why do we even need a cancelled cheque in the first place? Let’s find out.

Contents
What is a Cancelled Cheque?Why is a Cancelled Cheque Given?How to Write a Cancelled Cheque?Cancelled Cheque FormatCancelled Cheque: FAQs

What is a Cancelled Cheque?

A cancelled cheque, as the name suggest, is a cheque that has diagonal sloping parallel lines drawn in the middle of it with ‘Cancelled’ written in between these lines.

Why is a Cancelled Cheque Given?

A cancelled cheque is issues/given by the account holder to provide their account details as well as bank and branch details to the person concerned. There are various cases where one needs to submit a cancelled cheque, e.g.:

  • Cancelled cheque for PF withdrawal
  • Cancelled cheque for NPS
  • Cancelled cheque at the time of college admission/job
  • Cancelled cheque for loan applications
  • Cancelled cheque for insurance policy purchase

Note: This is not an exhaustive list. 

How to Write a Cancelled Cheque?

To write a cancelled cheque, follow the directions given below:

  • Tear out a cheque leaf from your cheque book
  • Draw 2 diagonal parallel lines crossing the cheque in the middle
  • Sign this cheque
  • No need to add any other details to make a cancelled cheque

Cancelled Cheque Format

The format of a cancelled cheque is shown as below:

Cancelled Cheque Format

Cancelled Cheque: FAQs

Do we require signature on a cancelled signature?

Yes. You need to put in your signature when giving a cancelled cheque to anyone, for any purpose.

Can a cancelled cheque be used to withdraw funds?

No. A cancelled cheque cannot be used for anything other than account and bank information.

How to write a cancelled cheque?

Draw two parallel lines diagonally in the middle of an empty cheque to make a cancelled cheque.

Are there are charges for writing a cancelled cheque?

No. A cancelled cheque bears no charges or fees whatsoever.

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Posted by Monika Mohan
Monika Mohan is a writing enthusiast who has luckily turned her passion into profession. For the greens, she has an established foot in the personal finance sector and likes to put forth complex topics in an easy-to-understand manner, minus the jargons. Outside the penny lane, it’s all about poetry, mountains and single-malts.
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