What is cancelled cheque

A cancelled cheque is a cheque leaf that has been voided for payment by drawing two parallel diagonal lines across it with the word CANCELLED written in between. It serves as a proof of account ownership and is used to verify banking details such as the account number, IFSC code, MICR code, and branch name. Since it is marked as cancelled and remains unsigned, it cannot be used to withdraw money or make payments, making it a safe way to share account information for KYC, loan applications, or setting up EMIs.