Certainly, voided checks are not very common in the current electronic era. Account holders increasingly use on-line platforms to make payments and tend to fill their banking information directly on web sites. A voided check will have all of your bank information printed on it, so it can provide others everything they need to set up a direct deposit payment from your account. A void cheque is a way for an employer or company to ensure it has your correct banking details. However, if it doesn’t insist on an actual voided cheque, you can simply contact your bank to confirm transit, institution and account numbers.
These days, cheques are pretty much a relic of the financial past, but one of the ways they’re still useful is actually when they’re void. You may need to provide a void cheque to a new employer so they have your banking details to set up direct deposit for payment or for preauthorized payments on monthly bills. Once you write VOID on one of your checks, it automatically means that it becomes invalid. This check cannot be treated as a blank check and used to make any payments, but it can still provide relevant information about your bank account.
You just need to ensure you have enough funds in the account to cover it (this is where overdraft protection comes in handy, too). Your employer will ask for a blank cheque to send to the finance department who will set you up in the company’s payroll system. Then, on paydays, instead of receiving a physical cheque that you need to deposit yourself, your pay will be deposited directly into your bank account. Although the primary purpose of a check is to facilitate a money transaction, voided checks exist for several reasons. One group of motives derive from errors or changes in the transaction.
Is a void cheque the same as a direct deposit form?
The employer needs a voided check in order to extract the bank account information from the bottom line of the check. Yet another use for a voided check is when a lender wants to use it to set up an automated loan payment. As was the case with direct deposit, the lender will want to use the bank account information listed on the bottom line of the check. Employers often use voided checks to set up direct deposits for their payroll, and service providers may need them to set up direct debits. This is because a blank check has all the information they need, such as routing or account numbers. Although it is not strictly necessary to get this information from a check, using one reduces the likelihood of a transcription or other type of error.
When you void a check, it can’t be used as a check, meaning it can’t be deposited. Usually, a check is a document you sign to allow the recipient to withdraw the amount you specified from your bank’s checking account. Voiding the check makes the recipient unable to do this anymore.
Can I Deposit a Voided Check?
The purpose of a voided check is to certify your bank account information. Once you void a check, it becomes invalid and useless for payment. You can often get a voided check online by logging into your bank’s website or mobile app and selecting an option to request a voided check. Some banks also offer the ability to print a voided check directly from their website.
- You simply write the word “VOID” in big letters on the front of the check.
- Not every bank offers this option but the “Big Five“ Canadian banks such as RBC and CIBC do.
- This is why it is always a good idea to document your check transactions in your check register so that you will always have information like, the check ID number, the amount, and who you paid.
- This check cannot be treated as a blank check and used to make any payments, but it can still provide relevant information about your bank account.
- In a way, voiding a check you already wrote is a safe method of destroying the check.
Write with well-spaced letters that are tall and wide enough to cover the whole face of the check without obscuring the banking information at the bottom. You want to make it difficult for thieves to erase or cover your void mark. A voided check is a check with the word “void” written across the front, which indicates that it shouldn’t be accepted for payment. The check can still be used to get the information needed for electronic payments. Setting up personal financial transactions such as online bill pay, paycheck direct deposits, or automated clearing house (ACH) transfers often require the use of a voided check. A voided check requires the word “VOID” written across it, indicating that it cannot be used for payment.
We recommend you review the privacy statements of those third party websites, as Chime is not responsible for those third parties’ privacy or security practices. Compare top interest rates and discover the best no-fee high-interest savings accounts (HISAs) in Canada. In the other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. Find out what ACH stands for, what it can be used for, and the pros and cons of ACH transfer. Make a note in your check register so that you’ll know where the check went.
What is a voided check?
This can actually be a bit of a problem for them when they go to deposit the check if the bank account they want to use for that check is only in Mrs. Johnson’s name. If you mess up writing a check, then you’ll want to void the check you already wrote on and start over again. This can happen if you accidentally write the wrong amount on the check, or if you write the wrong name down for the recipient. Before you can learn how to void a check you need to understand what this is. A void check is a check that has been canceled or invalidated by the sender writing the word VOID on the check.
You can always contact us and we’ll help you with whatever you need, as soon as possible. A void cheque is a cheque that has the word ‘VOID’ written on it in large letters. This renders it invalid and prevents anyone from filling it out, making it out to themselves and/or trying to cash it.
What is a Void Check?
They also contain relevant information such as the routing number, but you will have to insert your bank account number. Voiding a check helps ensure others can’t cash or deposit money from your account. Because checks have important bank information on them, be sure to void them correctly when you don’t want to use them. void check meaning Next, use the blue or black pen to write “VOID” in large capital letters across the front of the check, ensuring you cover all of the information boxes. Another viable voiding method is to write “VOID” in smaller letters on the date line, amount line, payee line, and signature line, as well as in the amount box.
Once you set everything up, the amount will be deducted from your bank account each month automatically. You’ll have to sign an agreement that authorizes automatic payments. Void cheques are safe to share with those who need your banking information. Just ensure that you use some type of pen or permanent marker that cannot be erased and that you write “void” in large, clear writing. That being said, your banking information is still personal information so you don’t want to be showing void cheques with your account details to everyone.
The only way to give yourself peace of mind is to void the check and then throw it out or shred it. You don’t need to sign the check or enter any other information. By clicking on some of the links above, you will leave the Chime website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Chime.
Ensure you copy the correct number, or you might cancel the wrong payment. The voiding process is almost always the same, including using a pen to write “VOID” across the cheque or in five separate areas of the check. That said, writing “VOID” in large letters across the check is certainly the faster way of both methods. Just be sure to avoid covering the account number and routing number at the bottom of the cheque.
If you have a checking account that doesn’t offer checks, you can try these options for setting up direct deposit or electronic payments. Even with today’s largely electronic world, the use of printed checks has not gone away. For example, when you call a plumber or electrician for a home repair, payment by check could be necessary. Some payments are made by mail as well, and you might prefer sending a check, versus mailing out a credit card number.
FAQs about how to void a check
By using auto-pay you won’t have to worry about forgetting any bill payment and accruing late fees and hits to your credit score. You can even directly link your Wise account to your US bank, brokerage, credit card provider, PayPal, and many other services — and automate your payments through direct debits, which are free. If you want to set up a direct deposit with your employer, you can’t just submit a blank check to provide your bank information, as anyone could fill out the check and take money from your account. For example, if your company’s payroll department needs a check from you to set up direct deposit, you can provide a voided check. Then you know that no one would be able to alter the check and spend it, because it has been voided. Another option in case you have no checks is to use online banking options.
All you should see is the bank information such as your routing number, account number, and check number, and the word ‘VOID’, which you should have written on the front of the check. It means that the check can no longer be used after it has been cashed or deposited. Most companies don’t even need an original; a copy of a voided check is good enough. It’s typically written in large letters so there’s no chance of it accidentally being used.
If you need a Stop Payment Order for a check, your bank will probably need the information on the check you want to cancel. This is why it is always a good idea to document your check transactions in your check register so that you will always have information like, the check ID number, the amount, and who you paid. Sometimes you will need to void a check, and in order to avoid problems, you’ll need to know exactly how to do it. This is because it is an easy and convenient way for the employer to have access to your bank information without requiring you to make a money transfer. If you add one too many ‘0s’ to your check, you can’t just correct it and hope it works out. You also can’t discard it because if someone were to get hold of it they could withdraw money from your account.
We live in a very digital world when it comes to finances, but that doesn’t mean we may never run into things like checks again. Checks are still a great secure payment option that you might still need to use from time to time, even to make some electronic payments possible. Voided checks can serve an important role in direct deposits and other ongoing transactions. While Chime doesn’t issue personal checkbooks to write checks, Chime Checkbook gives you the freedom to send checks to anyone, anytime, from anywhere.