Why is a canceled check needed?

Trending canceled check is needed? The canceled check in the bank plays an important role in many financial processes. Let us know what it is and it is Casselikha. Two parallel lines are drawn on the canceled check and “canceled” between them. It is not used for money transactions, but only for the confirmation of the bank account. Its purpose is only to certify your bank account information. It cannot be abused because ‘canceled’ was written on it. Banks usually check cancer at the time of the loan. A canceled check is also sought while taking an insurance policy. It is used to send a premium payment or claim amount directly to your account. There is also a demand for canceled check to verify banking information at the time of investment in offline PF withdrawal, mutual funds. A canceled check is also needed during the registration of Electronic Clearing Service (ECS). The use of canceled checks in ECS is needed to ensure automatic payment from the account. Do not sign the canceled check because it is just for proof. Write it only with a blue or black pen. Click here Life & Style Click for more stories Click here