Cancelled cheque means...?

Question

I need to apply for a mutual fund and i'm new in this field...
The require a 'self certified copy of canceled cheque' from me...
Kindly tell what it means...

Who should be the bearer in this case...???
How do i cancel the cheque...???
what should be the amount...???
should i mention 'AC Payee'...???
what about the date, do i have to write date...???

Kindly guide...
Thanks in advance... :)

Answer 1

Best Answer - Chosen by Asker

A cancelled cheque is nothing but a checque leaf contains a marking accross "CANCELLED".
By doing it no one can use the cheque leaf elsewhere. You need not write anything on the cheque leaf. A blank cheque on corner to corner in bold letters, do write "CANCELLED".
The mutual fund people need to know your account number and MICR code. Why they need the cheque is they want to make double sure that they never go wrong about your Account.

Source(s):

Banker

Asker's Rating:

Asker's Comment:

thx.. :)

Answer 2

Mutual Fund application never requires a canceled cheque but for ECS they may ask for a document
of the bank cheque for verification of 9 digits number of the bank.If at all you send just write canceled
and nothing else.For SIP also they may need.Now you decide what you applied for?In stead of canceled cheque ,give them a xerox.Mutual Fund application is always with a guideline(Prospectus)
Go through the form carefully,everything is there.

Answer 3

bearer name will be provided to u by mutual fund company
to cancel the cheque just cross on the corner of the cheque by making 2 cross line n writing in b/w them a/c payee.
amt choice will be totally urs.
yes mention a/c payee.
yes u have to write the date on which u r signing or giving the cheque.

cancelled cheque means that bearer can withdraw money from ur a/c by his a/c. he cannot withdraw in cash

Answer 4

No need for A/c. payee. Just draw two parallel lines across the face of the cheque and write the word Cancelled in between the two lines. No need to fill any other particulars.

Answer 5

A cancelled cheque is the same as a VOID cheque....just write VOID on the cheque and give it to them. They are looking for your bank account information, which is on the cheque.

Answer 6

Different people will have different clauses for this.
Contact the concerned agency for clear instructions as what details to be declared in the cheque.