What is cancelled cheque copy

A cancelled cheque copy is a cheque leaf that has been invalidated by drawing two parallel diagonal lines across it with the word CANCELLED written in between. While it cannot be used to withdraw funds or make payments, it serves as an essential document for verifying your bank account details. It contains vital information such as the account holder's name, account number, IFSC code, and MICR code, which are used for KYC compliance, setting up EMIs, and processing insurance claims or EPF withdrawals.