What's a cancelled cheque

A cancelled cheque is a cheque that has two parallel lines drawn across it with the word CANCELLED written in between. This process ensures that the cheque cannot be used to withdraw funds or make payments. It serves primarily as a document for bank account verification and contains essential details like your account number, bank name, branch address, and IFSC code. In India, cancelled cheques are commonly required for:

• Verifying bank account details for salary credits
• Setting up an Electronic Clearing Service (ECS) or EMIs
• Registering for a demat account or mutual funds
• Processing insurance claims or policy payouts