How to Void a Check

A voided check is often needed to set up personal financial transactions like online bill pay, direct deposit of paychecks, or ACH (automated clearing house) transfers. The word "VOID" must be written across a cancelled check to show that it cannot be used to pay for something.

A voided check has all the banking information that is needed to make sure that electronic banking transactions are done correctly for the 55% of Americans who prefer to pay bills online and the 94% of Americans who get paid through direct deposit.

What Is a Voided Check?

If you need a cancelled check, you don't have to ask your bank or credit union for one. You can just take a check from your supply and write "VOID" on it yourself. The word "VOID" doesn't have to cover the whole check, but it should be big enough and dark enough that the check can't be used. Don't cover up the bank account number at the bottom of the check.

How to Void a Check?

1. Use a blue or black pen.
2. Write “VOID” in large letters across the front of the check, or write “VOID” in smaller letters on the date line, payee line, amount line, and signature line, as well as in the amount box.
3. Make a copy of the voided check for your records, noting the check number.

When to Use Voided Checks

You can't write on, cash, or deposit a void check. Even though that might make it seem useless, a voided check is used to make it easier for you to give someone else your banking information.

Most of the time, you should keep your banking information private to avoid fraud and theft of your identity. Don't let other people find your chequebook, blank checks, or copies of your checks.

A void check can be helpful when you need to give someone else your banking information for a good reason. You don't have to copy the routing number and account number from the bottom of your check onto a form and risk making a mistake. Instead, you can give a voided check with that information already printed on it. The person who gets your cancelled check can use the information on it to set up an electronic transaction for your account.

You might use a voided check to:

• Authorize your employer to direct deposit your salary or wages.
• Authorize your employer to direct deposit your expense reimbursements.
• Authorize a government agency to direct deposit your benefit checks.
• Set up automated loan payments (e.g., mortgage, student loan).
• Set up automated bill payments (e.g., utilities, credit cards).

If you filled out a check wrong but don't want to throw it away or shred it, you can write "VOID" on it. This kind of void check can be used to keep track of things. Since checks are numbered in order, if you throw one away instead of writing "VOID" on it, you might forget that you didn't use it.

Why Do Companies Need a Voided Check?

Employers often use cancelled checks to set up direct deposits for their employees' paychecks, and service providers may need them to set up direct debits. This is because a blank check has all the information they need, like routing or account numbers. Even though it's not strictly necessary to get this information from a check, doing so makes it less likely that there will be a typing mistake or other mistake.

Can I Deposit a Voided Check?

No. Even though you can sometimes deposit a void check in an ATM, this kind of mistake is likely to be caught when human tellers check the machine's deposits. Then, any funds that were cleared in error will be taken out of the recipient's bank account and sent back to the original owner. When a customer gets their statement, they can file a claim if a voided check clears.

Direct Deposit

With a direct deposit, you can cash a void check and have the money put into your checking account. It works, but you need to know your banking information in order to complete the transaction. Once you have signed and dated the document, you will need to bring a void check to an authorised bank branch near you.

Most of the time, the banker will take a picture of your filled-out void check so that they can make sure it is valid before processing it for deposit. They might also ask to see your driver's licence or state ID card so they can check that the signature on the check matches the one on file for your account.

What is a Deposit Slip?

People often use deposit slips to put money into their personal or business bank accounts. Some people call them "cheque forms." They can also be called a bank form, a bank form deposit slip, a deposit form, or a cheque request, among other things.

In general, you fill out these slips when you want to take money out of the account you are using. You can find the account number and routing number for your checking account on the receipt for this type of transaction. This will let you make the necessary deposits.

Automated Payments

Electronic payments, which are also called "automatic payments," are made by moving money from one account to another.

The money you spend or give away is taken out of your account and put into the account of the person you gave it to.

When someone uses a credit card to pay for something, they are just borrowing money that they will have to pay back at some point. This kind of transaction doesn't involve exchanging cash between the two parties, so it can happen even if they don't know each other if they both use cards linked to their own accounts at different banks that are far apart.

Are void Cheques safe?

Using void checks is perfectly safe as long as the transaction involves moving money from one account to another and is between two people whose accounts are at different banks that are in different places. But if there is a problem with a bank's authorization process, these transactions might not follow security rules, which could put your money at risk. If something goes wrong, it will also be hard to replace any lost money because only the person who got the money would be able to get to it.

Conclusion

To cash the check, all you have to do is fill out some personal information on both sides, sign it, and take it to any bank branch. If you have access to a computer, you can also get a void check to pay online or from your computer. Don't worry if you don't! You don't need an appointment at any of the banks near you that offer these services. Just stop by during their business hours.