What Is a Void Cheque?
If you have overdraft protection, you’ll be charged a fee and interest. A bank statement is a document that shows you a summary of the money that went in and out of your account during a set period of time. Another reason to void a cheque is when you’ve entered the wrong information on it — such as an incorrect date or dollar amount — while trying to make a payment.
Grab a check out of your checkbook, and write “void” across the front. 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. After you void the check, record the voided check number in your checkbook. This will help you remember that the check was voided and you’re not waiting for it to clear your account.
A voided cheque is a paper cheque that has “VOID” written across the front, rendering it invalid as a form of payment. Others will require you to purchase your checkbooks from them. Once you have your own personal checkbook, you can write VOID on any of the checks to get a void check. If any of these things occur you can simply void the check to ensure it doesn’t accidentally get used later.
If you don’t already have checks, you can order checks online. If you don’t have a chequebook, you can still get a void cheque. Most banks make it easy to access void cheques via online banking. 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.
How to read a void cheque
But there are reasons why you may need to void a cheque even though you can’t make a payment with it. 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. You may want more than one individual on your checking account.
But because the check is void, they won’t be able to use the check to take money from your account. A voided check cannot be used to cash out or deposit the money. Thus it feels like a useless check but it is a very important document for passing the banking information to another party. While providing the banking information to someone one should keep in mind that the check should not be used as a blank check by someone. Rather the person who is receiving the check can fill out the banking information which is provided in voided check to transfer the fund into the check writer account.
How to get a void cheque from your bank
A voided check requires the word “VOID” written across it, indicating that it cannot be used for payment. A voided check is a check with the word “VOID” across it, which indicates that it shouldn’t be used for payment. It’s typically written in large letters, so it cannot be mistaken for cash use. Voiding a check prevents the check from being used by anyone, especially thieves who could write a large sum of money out to themselves. Typically, a voided check is used to get information needed for electronic payments because it includes details such as your routing number, account number, and check number.
Also be sure not to write over the banking information at the bottom when you write “VOID” on the cheque. You can provide a void cheque to a merchant to set up automatic payments (also called pre-authorized payments) for recurring expenses, such as insurance, car payments, rent and utility bills. This saves you from having to remember to make payments on time and ensuring that a bill never becomes overdue.
By writing “VOID” on the cheque, you ensure its unusable in case the partially filled out cheque falls into the wrong hands after you throw it out. No matter what financial service you use, be it a bank or a credit union, the process to void a check from any financial organization is going to be the same as the process outlined above. To send a voided check to someone just ask them for the mailing address you should use to mail the void check to them. Some banks and credit unions will automatically send you a book of checks when you first open an account with them. To get a voided check you’ll need to talk to your bank and get them to send you a checkbook. Basically, voiding a check you already sent is like bouncing your check preemptively.
Example of a Voided Check
A void check is a check that has been canceled or invalidated by the sender writing the word VOID on the check. If you need to cancel a check you’ve written out, then you need to know how to void a check. This will help keep your checks safe and accounted for as you balance your checkbook. 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. So you wrote a check and gave it or sent it, but now you need to cancel it.
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. Consumers often provide their own routing and account numbers online without any problem, so voided checks are required less frequently. For example, online banks allow you to link external accounts by typing in those details yourself. Billers, such as utility companies, also accept payments by e-check when customers input their checking account information. Some businesses even take payments over the phone, allowing customers to provide the information orally.
If you have a Chase account, then you can also just fill out a form instead of using a voided check to set up direct deposit. All you’ll need to fill out the direct deposit form is your routing number, bank account number, and check ID number. To void a check, you just have to write the word ‘void’ across the front of the check. Just make sure that you write the word with bold letters and tall and wide enough to cover the whole face of the check with a dark pen or fine marker. You should also make sure that no one can remove the word void from the check. You would not want any thief to remove the word void because after that they will have a blank check in their hand.
EQ Bank vs. Tangerine: Features and Differences
Huntington explains how you can add a person to your account at any time or open a joint bank account together. Set up direct deposit for your Huntington Checking account, and you could start receiving your pay early. When we receive your direct deposit information from your employer, we make your pay available to you, up to two days earlyΩΩ.
Compare top interest rates and discover the best no-fee high-interest savings accounts (HISAs) in Canada. Maybe you don’t need the check anymore, or you messed up writing it out and need to change something on it. You don’t need to sign the check or enter any other information.
- Another reason to void a cheque is when you’ve entered the wrong information on it — such as an incorrect date or dollar amount — while trying to make a payment.
- For this, the word void should be written big and dark enough across the check.
- It’s a good idea not to sign the cheque to safeguard it from being misused.
- Voiding a check prevents the check from being used by anyone, especially thieves who could write a large sum of money out to themselves.
- If you have a checking account that doesn’t offer checks, you can try these options for setting up direct deposit or electronic payments.
You simply write the word “VOID” in big letters on the front of the check. If you need to cancel a check, no matter the financial system you’re using you can always contact them and they will run you through the procedure to stop a check payment. 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.
Purpose of A Voided Check
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. Autopay can be very useful to stay on top of recurring bills like utilities, rent, or credit card payments. 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.
First, it’s important to know that you should never give someone a blank check, especially someone you don’t know. This is because anyone can fill it out and withdraw money from your bank account. This is why employers ask for a voided check to set up direct deposit, not a blank one. 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.
Reasons for A Voided Check
You also might be able to provide your routing and account numbers directly. The information in this document was developed with reasonable care and attention. However, it is possible that some of the information is incomplete, incorrect, or inapplicable to particular circumstances or conditions. Common things that banks charge fees for include transaction fees, insufficient funds and overdrafts, wire payments, and out-of-network ATM use. An overdraft occurs when a transaction drops your bank account balance below zero.