What is a voided check: When and how to void a check Wise, formerly TransferWise

You can even choose to have your tax refund sent by direct deposit. Voiding a check is easy but you should exercise some care if you need to voided check void a check. Write VOID across the front of the check, but take care not to write over the numbers printed at the bottom of the check.

• Many banks, especially online banks, make it easy to open multiple savings accounts.
• You can also send it electronically, but you need to be careful if you are doing this.
• If you don’t already have checks, you can order checks online.
• If you want to pay your mortgage, car loan, or other bills online, then you may have to submit a voided check to schedule payments from your checking account.
• It’s important to note that you can’t void a check once you’ve given it to the payee.

Many banks, even if they don’t provide pre-voided checks, offer direct deposit forms. These forms are like pre-filled direct deposit forms that you can provide to your employer. They should suffice as proof of your checking account for your company. Review your company’s bank accounts for the next few months to make sure the voided check does not clear your account. This is important because in certain circumstances voided checks might clear your account. This could happen, for example, if the physical check is converted to an electronic payment. Electronic banking transactions are subject to rules detailed in federal regulation E.

Your account statements

If you want to be extra careful, you might write “Void” across the payee line, as well as on the signature line and in the payment box. 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. A simple rule to remember would be to treat checks like cash. This is why employers ask for a voided check to set up direct deposit, not a blank one. In a common example, many employers will ask for a voided check to initiate direct deposit.

You could also try to ask your bank for a counter check. Just bear in mind that usually, banks will charge a fee for counter checks, but it’s a small one. You’ll want to account for what happened to the voided check so you’re not left wondering if you have an outstanding check when you’re reconciling your bank statement. To do this, write down the original check number in your check register or software you use to track check payments and make a notation that it has been voided. If your bank’s online tools allow you to keep track of your written checks, record it there.

Set up automatic electronic bill payments

The person using your voided check will need that information to connect your bank account. When you’re submitting a voided check for direct deposit or automatic payments, you don’t need to include any information on the regular lines. Grab a blank check from your checkbook, then you’re ready to move on to the next step. Your paper checks all have your bank information on them—the name of your bank or credit union and your account and routing number. By giving a voided check, you give the person establishing the link to the bank account information they need to set up your direct deposit. But because the check is void, they won’t be able to use the check to take money from your account. One of the most routine instances of voiding a check is for setting up direct deposit with your employer.

Voided checks allow you to protect your funds from unauthorized use while also providing your pertinent financial information. Many banks now offer digital checks or, as mentioned above, a pre-filled direct deposit authorization form for ACH setup purposes. These can be filled out online and either printed or emailed directly to your payer. Your employer may request a voided check to get your bank’s information, routing number and your own bank account number so they know where to deposit your money. If you don’t have access to online banking, or just want to deal with a real person, phone up your bank directly.

What Does It Mean to “Void” a Check?

There are several situations in which a voided check might be used. The most obvious one is when a mistake has been made when writing a check, such as stating the wrong payee or amount to be paid. Writing “Void” across it prevents someone from using the check to falsely extract money from the person’s checking accounting. Another use for a voided https://www.bookstime.com/ check is to set up direct deposit payments, usually for payroll payments from your employer into your checking account. 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.