A canceled check is a check that has been marked as “cancelled” by a bank after it has been processed and the funds have been transferred. To prepare a canceled check, you will need to follow these steps:
- Write the check: Fill out the check with the correct information, including the payee’s name, the amount, and the date.
- Sign the check: Sign the check in the designated area.
- Make the payment: Take the check to the bank or use online banking to make the payment.
- Wait for the check to clear: After the check has been processed, the bank will mark it as “cancelled” and the funds will be transferred to the payee’s account.
- Request for the cancelled cheque: You can request for the cancelled cheque from the bank by visiting the bank in person or by contacting the bank through the phone or online banking.
- Obtain the canceled cheque: Once the bank has processed your request, you will receive the canceled cheque.
It’s important to note that some banks may also provide the facility of e-cheque or e-image of the cheque, where you may receive the image of the cancelled cheque through email or online banking portal.
