How to write a cancelled cheque india
To complete the process of assigning EMIs, the bank or the company financing the EMI likes to ask for a cancelled cheque.
You will have to fill up a form and provide necessary documents such as ID proof, address proof etc. There is no need for a signature on a cancelled cheque. A cancelled cheque can be asked for as a part of the KYC document as it provides various banking details of the person as well as the name of the person. You should always ask for a letter or an email of their demand for this cancelled cheque. So if you are investing in Mutual Funds or the stock market, the company will ask for a cancelled cheque to verify if the account associated with the investment actually belongs to you. EPF Withdrawal:If you have EPF account which has matured or you want to make premature withdrawal, you will not only need to provide a duly filled form but you will also need to provide a cancelled cheque. As of today, no loan company will provide the loan money in cash. Read More About Tax. Top 5 places where you may need to issue a cancelled cheque are: 1.
Follow News Other than this, there is no need to mention anything else on the cheque. If you wish to make use of ECS for deducting money from the designated account every month, you will require a cancelled cheque.
If and when you want to invest in market-linked instruments, such as mutual funds and stocks, the financial institution can ask you to submit a cancelled cheque. Alternatively, you can scan a copy of one cancelled cheque and use it again and again whenever the need arises.
It may even by your overdue credit card bill.
Electronic Clearance Service While setting up an ECS Electronic Clearance Service from your account, you need to give a cancelled cheque as a proof that you hold a valid account in the aforementioned bank in your name. Well, we hope that we have answered all your doubts about a cancelled cheque.
Fraud relating to these cancelled cheques are not unheard of.
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