Can I cancel a blank cheque given to someone?
Unless the chq is in your possession the question of cancelling the chq does not arise. Here obviously you do not hold it. In the circumstances, the course open to you is to stop payment of the chq if it has not already been paid. In case it is not yet been paid, you have to ask your bank in writing, to stop payment of the chq. To avoid any unforeseen future litigation, it is better if you say in your letter to the bank that you have lost/misplaced the signed blank chq. Regarding bouncing off the chq it can bounce only if you have not maintained sufficient balance in the account and presented for payment before you could effectively stop payment of the same. In that case you have to face the music. If however, the chq were to be presented after you have served stop payment instructions to the bank, the bank will return the chq unpaid saying “payment has been stopped by the drawer”. Here again, if the chq payment is stopped for any reason other than “bonafide reason” you have to face the music. Hope I could throw some light.
Can I cancel the cheque given to someone before clearing?
The bank will merely ascertain as to whether a check has been presented for payment before placing a stop. Otherwise it is a service they charge a fee for so they don’t care about your personal business.You are the one responsible for having a good reason to stop payment. You can be held civilly or criminally liable for stopping payment on a check when goods or services are received and you scheme to not pay.
For sending a soft copy of a cancelled cheque, can we use Photoshop for writing "cancelled"?
I hope you know about Photoshop & text editors.Actually scanning of cheque and editing it on a text editor are two separate things. Word “cancelled” may be removed easily using a text editor. In this way cheque may be printed & may be used for a fraudulent activity.So, better will be to write “cancelled” between two parallel lines using a pen on the face of cheque and then get it scanned.It is also advisable to submit a stop payment request to your bank for this cheque. Certainly bank will charge for it but it will be beneficial for your security.
Can someone withdraw money with a photo of a cancelled cheque?
Let us view like thisCurrencyYou have one currency valued rupees 2000 and you can take color xerox copies nowadays for any number and start exchanging them in storesProbably you may be successful in one or more attempts and during anyone attempt you will be caughtYou are liable to be prosecuted and you may be penalised for some jail term for preparing or using forged currenciesNow use the same logic for the chequeIn the case of currency there will be no control and the original and other duplicate currencies will be having same printed serial number and only the quality of paper will only indicate the worthiness.You are presenting the original cheque and get money from the bankNow you are presenting the colour xerox copy of the cheque and try to get the payment and when the teller attempts to key in entries through the system, he will come to the point that the cheque with same serial number had already been passed and payment had already been made.Now you will be held by the bank people for attempting to defraud the bank by producing one duplicate chequeAgain the jail term as pronounced by the court of lawNow let me come to your questionCancelled cheque means the cheque which cannot be used for payment purpose again and it can be used only for informative purposeYou are investing in different mutual fund schemes floated by different organisations and they require one cancelled cheque for this purpose.For one company you give one cancelled cheque and for the remaining companies, you can produce photocopies of the cancelled cheque and it need not be a photo or colour xerox or another cancelled chequeThe investment agencies require cancelled cheques or copies of cancelled cheques only to find out the following informationName of the bankName of the bank branchAddress of the bank branchIFSC code of the bank branchYour account numberMICR code of your bank branchUnfortunately, many investors and others provide wrong or incorrect information in regard to their bank details and by obtaining cancelled cheques such problems are eliminated altogether
Can a cancelled cheque be misused?
No.In order to bring the cheque a life, the words - CANCELLED should be cancelled by the drawer by affixing his signatureSubsequently, the other details namelydate of the chequename of the payeeamount in wordsamount in figuressignature of the drawer at the bottom portion of the chequeshould be written and executedHowever, banks do not accept already cancelled cheque subsequently presented with alterations attested by the drawer.It may create some legal complications in futureIn order to avoid unpleasant situations, they will treat the cancelled cheque as cancelled for ever
What is a cancelled check?
for direct deposit, you can use a voided check. I'm assuming you have a checkbook. Take out one of the checks and in big letters write VOID across the entire front of it. That's all they need. Just be careful, with any check (voided, canceled, or otherwise) anyone can get all the information they need to access your account. So be careful what happens to it. If for some reason they insist on a canceled check, just write a check for $1 to a friend. But it'll take a month for it to show up in your statement and if your bank is mostly electronic, there won't be a canceled check. There will just be a copy of the check on your statement.
Can I upload a blank cheque instead of a cancelled cheque in Flipkart for verification?
What is the difference between a blank cheque and cancelled chequeBoth are one onlyIn the case of blank cheque the following details will be available:You will be removing one cheque leaf from the cheque book and will be sending the leaf to the concerned authorities for verificationBy means of your cheque leaf, they can verify the following:Name of the bank and bank branchAddress of the bank branchAccount numberMICR code number of the bank branchIFSC code number of the bank branchIn the case of cancelled cheque the following details be available:You will be removing one cheque leaf from the cheque book, make a crossing by writing parallel transverse lines on the face of the cheque and the following words will be written within the parallel lines - CANCELLED CHEQUE and you will be sending the leaf to the concerned authorities for verificationBy means of your cheque leaf, they can verify the following:Name of the bank and bank branchAddress of the bank branchAccount numberMICR code number of the bank branchIFSC code number of the bank branchIn the case of blank cheque, there is a possibility that the cheque can be filled up and signed using forged signature. In other words, it can be misusedIn the case of cancelled cheque, on account of cancellation of the cheque, it has not value and it is a simple paper and the other party is able to get the required details from the cheque like any other chequeWhy authorities demand cancelled cheque?There are no rules and regulations to obtain cancelled cheque for any purpose and it has become a practice nowadaysThe accountholder may omit some vital information or provide wrong account number or wrong IFSC code or wrong MICR code etc., In order to obviate such difficulties and inconveniences, they demand cancelled cheque wherein the required details are clearly available
Should we sign in a cancelled cheque in India?
Mutual fund organisations, investment agencies and others demand “cancelled cheques” to know the following informationName of the bankName of the bank branchIFSC code number of the bank branchExact account number of the depositor etc.,Normally when the customers provide these information, they used to commit some mistakes and in order to avoid those mistakes they require cancelled cheques. You simply put two parallel transverse lines and within the lines, write cancelled in bold words. You need not sign the chequePlease always keep in mind - You should not put signature unnecessarily in any form which may put you in trouble.
What is the procedure to cancel a post dated cheque?
Let us discuss like thisSituation Number:1You are willing to purchase one article from one person and he demands an advance amount and for this purpose, you pay him a post dated cheque.As agreed he has not delivered the article to you at the right timeOr the article delivered to you is found to lack in quality and is not in working condition and you are not satisfied with the performance of the articleNow you are willing to return the article to him and you are telling the other person to return to you the post dated cheque which is yet to be presented to the bankerThe party not turns up to take delivery of the article from you by returning the chequeThere is a possibility that he may be presenting the cheque at any time to the banker on the date of the cheque or after wards. Now you have to stop payment of the chequeYou write a letter to the banker for stop payment of the cheque or you can use the prescribed format prescribed by the bank in this connection and hand over the same at the appropriate time so that the banker stops payment of the cheque at the time of presentationNow you have valid reasons - You have documentary proof and other evidences which support your caseFor any legal disputes in this connection, you are saved since you are in order in submitting the stop payment request to the bankerSituation No: 02You had availed one vehicle loan for an amount of Rs/ 200000 from one private financial institution and you had provided them 20 post dated cheques for Rs. 10000 each.Now it is your responsibility to provide funds in your account each month so that each cheque valued Rs. 10000 is honoured by the bank on presentationNow you are willing to play smarterAfter payment of four cheques, you write a letter to the bank to stop payment of the remaining sixteen cheques and you are also providing the banker the details of chequesThe banker will definitely accept your request because he cannot refuse your requestHowever, you are not willing to honour your commitments to the financing company and now the company cannot use those post dated cheques since they had been stopped for paymentThe company can go to the court and get legal remedy for this situation and they have valid proof for having provided you a vehicle loan and they have also proof for having obtained from you the post dated cheques towards repayment of the loan instalments
Can a cashier's check be cancelled?
Yes, a stop payment can be placed on a cashiers check. An official check is somewhat similar and the procedures at the financial institution that I work for are that the member has to wait at least 14 business days before placing the stop pmt on the check. This will allow enough delivery time. Then we ask that the company the check was made payable to give our member a letter acknowledging that a stop has been placed on the check and they are aware that a new check will be provided. This will protect both, the member and the company. If the company refuses to provide a letter then the funds will be deposited into your account and on hold for 90 days like another individual explained. This is to protect you for just in case that company does receive the check and cashes it. Go to your bank to verify all of their procedures. As for the fee, it does vary per financial institution. Like us, we charge $20.00 to stop personal checks but only $5.00 to stop an official check.