Learn about canceled cheques —their purpose, the details they contain, how to cancel it, and their role in banking and KYC verification. Read more! Learn about cancelled cheques , their purpose, details they contain, how to cancel one, and their use in banking and KYC verification. Read More! A cancelled cheque is an invalid cheque marked with two parallel lines and the word " CANCELLED " to prevent fraudulent use. Discover how to cancel a cheque securely & effectively. Follow simple steps, notify your bank, and provide necessary details for a successful cancellation process.