Using the online form saves time and lets you type in your information. Instead of trying to correct the error you may have made on a check, it’s better and safer to cancel the check completely by voiding it. Sometimes writing a check is easier if you are not comfortable with managing your finances all online or using apps.
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Example of a Voided Check
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Companies may require a voided check to set up direct deposit for employees or to establish automatic bill payments. It helps provide a company with the necessary bank account information while preventing the actual check from being used for financial transactions. Voided checks can serve as a secure method to share your bank account details, eliminating the potential risk of unauthorized transactions. By providing a voided check, you ensure that your banking information is accurate, reducing the chances of miscommunication or errors.
What Is a Voided Check?
It can serve as a conduit for establishing direct deposits, ACH transfers or to schedule electronic payments from a checking account, whether for personal or business use. Requesting a voided check is the usual way employers set up direct deposit into their employees’ checking accounts. Employees prefer direct deposit because it’s instantaneous and eliminates the need to wait for a paper check to clear their accounts. Many employers ask their employees to submit a voided check in order to set up payroll direct deposit. To do so, an employee simply writes “Void” in large font across a check and gives it to the human resources department. 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.
- Banks typically charge a fee for these checks, which can be anywhere from a few dollars to as much as $25.
- Voiding a check ensures it won’t be used by anyone, such as thieves who may write in a large amount for themselves.
- Conveniently make your loan payment with a debit card or electronic check!
- As we start to move away from cash or checks, e-money transfers are…
- The voided check serves as a verification of your routing number and account number.
- The first thing to know about checks is what all the numbers mean – the check number, routing number and account number.
The purpose of a voided check is to provide your bank name, routing number, and personal account number. Don’t cover up the routing or bank account number at the bottom of the check when voiding it. Those numbers are necessary for identifying your bank account to send or receive payments.
Can I Deposit a Voided Check?
But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Voiding a check is easy but you should exercise some care if you need to 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 companies and websites allow you to set up an electronic bank transfer entirely from your online banking. While owning a checkbook and writing checks to many people might seem a bit outdated, there are still plenty who prefer this method. A voided check is a check written or partially written but then canceled or deleted by the maker of the check. Before giving an employer a voided check, it can make sense to first make a copy of the check, so that you know how the check was used.
