If i cancell a cheque, what happensnext. i have had to cancel a cheque for �00 that was deposite on something. on my statement online i have been charged �10 for this and it says cheque cancelled. When the payee trys to cash the cheque will they get told that it has bounced or something. I have never had to do this before, thanks in advance.
The payee will pay the cheque into their account as normal and then a few days latter it will 'bounce' and they will have the cheque returned to them by their bank with the reason 'Payment Stopped' or 'Paymnt Coutermanded By order of Drawer'.