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What's a Cancelled Cheque Leaf
September 30 , 2013

While initiating some financial transactions one might be asked to provide cancelled cheque. Read about what cancelled cheque is, why it is required and how to write a cancelled cheque. 

What is a cancelled cheque?

A cancelled cheque is a blank cheque with the word cancelled written across. It is issued to authenticate that bank account details provided for a financial transaction are correct; that the account is in your name.

CTS-2010 cheques are the order of the day and these have name of account holder printed on the cheque, along with account number. These account details can be used to verify against what you might have filled in the form- so they are sure they are paying you and not anyone else! In addition, MICR and IFSC code of bank are also present on it; these would be helpful while transferring funds.

In case the cheque leaf does not bear your name, you would be asked to attach latest bank account statement along with cancelled cheque.

Where cancelled cheques are used

Any institution making payment in your bank account can ask for cancelled cheque. Typically, you would encounter this on applying for mutual fund investment, buying insurance policy or withdrawing from PF.

If you want to change your existing bank details registered with one of the above financial service providers, you might be asked to provide cancelled cheques pertaining to both accounts.

Cancelling a blank cheque

Simply write 'CANCELLED' across the face of the cheque. The trend is to draw two parallel lines on the cheque diagonally and to write the words 'CANCELLED' between the lines.

Usually for PF withdrawal, they would require you to sign on the cheque. You can do so, no worry about it making the cheque unsafe.

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