Obtaining a cancelled cheque is a simple process. Here's a step-by-step guide on how to get one:
Write a Cheque:
Write a cheque as you normally would, making it payable to yourself. Ensure that you fill in all the necessary details, including the date, amount, and recipient (yourself).
Cross the Cheque:
Cross the cheque by drawing two parallel lines across the top-left corner. This is known as crossing the cheque, and it makes the cheque non-negotiable, meaning it can only be deposited into a bank account and not cashed over the counter.
Write "CANCELLED" Across the Cheque:
In large, bold letters, write the word "CANCELLED" across the face of the cheque. This indicates that the cheque is void and cannot be used for any financial transactions.
Keep a Record:
Make a note of the cheque number and date for your records. This can be helpful in case you need to trace the cheque later.
Provide the Cancelled Cheque:
Submit the cancelled cheque to the entity that has requested it. This could be your employer during the onboarding process, a financial institution for setting up automatic payments, or any other organization that requires proof of your bank details.
Photocopy or Scan (Optional):
Before submitting the original cancelled cheque, you may want to make a photocopy or scan it for your personal records. This copy can be useful if you need to provide the information to multiple parties without parting with the original document.
It's important to note that a cancelled cheque is generally considered a sensitive document, and you should take appropriate precautions to keep it secure. Providing it directly to the relevant party, such as your employer's HR department or a financial institution, is the standard practice. If you have concerns about the security of your financial information, you may also inquire if there are alternative methods or documents that can be used for the specific purpose for which the cancelled cheque is requested.
