A cheque leaf is a primary financial instrument for all account holders. You receive a chequebook when you open a bank account. This chequebook contains the bank cheque leaf in varying numbers, such as 5, 10 or even 25.
Prior to digitisation in the financial sector, a bank cheque leaf was considered one of the most popular non-cash payment forms. Even today, many people prefer initiating transactions through cheques. This is especially common to rental payments.
Read on to know more about the cheque leaf meaning and how to write a cheque as well as other pertinent information.
A cheque leaf is basically a single cheque in your chequebook. You can use it to withdraw cash or even deposit and 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, as mentioned in the cheque.
Here are a few essential elements of a cheque:
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Follow this process when initiating the cheque leaf filling process:
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.
You can cancel a cheque easily by drawing two parallel lines across the cheque. Then, you have to write the word ‘CANCELLED’ in block letters within these lines. Make sure not to strike off essential details such as your name, account number, etc. One of the most critical points to remember in a cancelled cheque format is that it does not have a signature.
Make sure not to overwrite a cheque as the bank may consider the same invalid. In such instances, you can always sign close to the section where you have overwritten. It is also important to handle a cheque carefully and use the same 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 Cash Loan or personal loan from Fibe. We offer amounts ranging from ₹5,000 to up to ₹5 lakhs at affordable interest rates. Just download our Personal Loan App or visit our website and apply for a loan today!
Take a new cheque leaf and draw two parallel lines across it. 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. Remember not to sign on a cancelled cheque.
The cheque number is mentioned at the bottom left of every cheque leaf. In simple words, it is the first six digits you normally find in a cheque before the 9-digit MICR code.
To get a cancelled cheque online, access your bank’s website and navigate to the customer service section. After that, click on the respective option, ‘Order copy of the cheque.’ Select the account and cheque type to get a cancelled cheque online.
You need to first write the amount in words in the designated space mentioned ‘Rupees.’ When writing in words, make sure to start from the extreme left side and add ‘only’ after you complete writing the amount. After this, add the same amount in numerals in the respective box you can find on the right side of the cheque.
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.
You can get a chequebook online by placing an online request on the bank’s net banking portal. However, you will not get individual cheque leaves online.
Cheque leaves don’t come with an expiry date. The validity of a cheque starts from the date it is drawn. A cheque comes with a validity of 3 months from the date it has been presented.
Both are similar, and there is no difference. A single cheque from your chequebook is known as a cheque leaf.