Cheque Leaf: 5 Top Facts You Need to Know

A cheque leaf is a primary financial instrument for all account holders and banks provide a chequebook when you open an account. It is essential to know the validity of a cheque leaf, the process of filling it and more to make the best use of it. 

Before digitisation in the financial industry, cheque leaf was a popular and convenient way to make non-cash transactions. Many still prefer to transact through this method. This is especially common in rental payments. 

Read on to learn how to fill a cheque leaf, its types as well as other pertinent information. 

What is a Cheque Leaf?

A cheque leaf is basically a single cheque in your chequebook. You can use it to:

• Withdraw cash from an account
• Deposit funds to an account
• Transfer funds from one account to another

When you write a cheque, it instructs the bank to debit your account and credit the account of the payee mentioned in the cheque.

Here are a few essential elements of a cheque:

• Date and bearer clause
• Amount to be written in words and numerals
• Signature of the drawer or the person writing the cheque
• A 6-digit cheque number in a cheque present at the bottom left
• A 9-digit MICR code following the cheque number
• An alphanumeric 11-digit IFSC code
• The bank name in whose favour the cheque has been drawn
• Account number from which the amount will be deducted

Read about Best banks for saving accounts in 2023

How to Write a Cheque

Follow this process to fill a cheque leaf:

• Step 1: Write the date on the top right of a cheque in the prescribed format
• Step 2: Mention the name of the payee
• Step 3: Write the amount in words and then in the numeral form 
• Step 4: Sign the cheque at the bottom right space
• Step 5: Verify the details and submit it

What are the Different Types of Cheques?

Here are some kinds of cheques you need to be aware of. Remember that each cheque follows a different format and is used for different purposes.

• Self-cheque: Used to withdraw funds from a bank account, as the payee is the account holder
• Bearer Cheque: An uncrossed cheque that does not require any endorsement to execute transactions
• Account Payee Cheque: This cheque instructs the bank to deposit funds in the payee’s account as mentioned in the cheque
• Banker’s Cheque: Guaranteed cheques issued by a bank which cannot bounce
• Post-dated Cheque: It comes with a future date to fulfil future obligations and the validity of a cheque leaf is 3 months
• Crossed Cheque: It is a bearer cheque crossed twice for security, which is only cashable by the payee
• Traveller’s Cheque: It is used for withdrawing money safely during travel

How to Cancel a Cheque Leaf

Here’s how you can cancel a cheque leaf:

• Step 1: Sign the cheque and draw two parallel lines across the cheque
• Step 2: Write the word ‘CANCELLED’ in block letters within these lines without striking off essential details such as your name, account number, etc. 

Make sure not to overwrite a cheque as the bank may consider the same invalid. It is also important to handle a cheque carefully and use the correct signature when you write one. 

You can use a cheque to pay your loan EMIs, credit card bills and much more. If you want immediate funds at affordable interest rates, you can apply for an Instant Personal Loan from Fibe. 

We offer amounts ranging up to ₹5 lakhs at a starting interest rate of 2% per month and tenure going up to 36 months. Download our Personal Loan App or visit our website and apply online with minimal formalities and instant access to funds!

FAQs on Cheque Leaf

How to write a cancelled cheque?

Follow these simple steps:

• Step 1: Take a new cheque leaf, sign it and draw two parallel lines across it
• Step 2: Once you draw them, write ‘CANCELLED’ in block letters between the lines

When drawing parallel lines, ensure they do not cover essential details such as your account number, your name, MICR code, etc. 

How to find the cheque number in a cheque?

The cheque number is mentioned at the bottom left of every cheque leaf. It’s the first 6 digits normally mentioned before the 9-digit MICR code.

How to get a cancelled cheque online?

You cannot write a cancelled cheque online as you need to take a cheque leaf from your chequebook. That said, you can cancel an issued cheque online by contacting your bank.

How to write an amount on the cheque?

Add the same amount in numerals in the respective box on the right side of the cheque. After writing the amount in numerals, write it in words in the designated line available next to the word ‘Rupees.’ When writing in words, make sure to start from the extreme left side and add ‘only’ after you complete writing the amount. 

Can banks issue cheque leaves?

Yes. Banks are authorised to provide chequebooks containing cheque leaves to their customers after opening accounts. However, banks will not issue individual cheque leaves to customers. 

Can I get a cheque leaf online?

You can get a chequebook online by placing an online request on the bank’s net banking portal or the app. However, you will not get individual cheque leaves online.

Does a cheque leaf expire?

Cheque leaves don’t come with an expiry date. The validity of a cheque leaf starts from the date it is drawn and is generally 3 months.

What is the difference between a cheque and a cheque leaf?

Both are similar and there is no difference. A single cheque from your chequebook is known as a cheque leaf.