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The Cancellation of Cheque Letter is a crucial banking document used in Australia when an account holder needs to prevent a cheque from being processed for payment. This document becomes necessary in various situations, such as when a cheque is lost, stolen, or when there are disputes regarding the payment. The letter must comply with Australian banking regulations, particularly the Cheques Act 1986, and typically includes specific details about the cheque, account holder information, and the reason for cancellation. It's an important risk management tool in both personal and business banking contexts, providing a formal record of the stop payment request and protecting both the account holder and the bank. The document is designed to be clear and unambiguous, ensuring that banks can act quickly to prevent unauthorized or unwanted payments.

1. Account Holder Details: Full name, address, and contact information of the account holder(s)

2. Bank Account Details: Bank account number, branch details, and type of account

3. Cheque Details: Cheque number, date, amount, and payee details of the cheque to be cancelled

4. Cancellation Request: Clear statement requesting the cancellation/stop payment of the specified cheque

5. Reason for Cancellation: Brief explanation of why the cheque needs to be cancelled

6. Acknowledgment of Fees: Statement acknowledging any applicable fees for the stop payment request

7. Authorization: Declaration of authority to request the cancellation and signature block