Voided check definition

Civilization became possible only when Sumerians of the Bronze Age invented money. Maybe you ran across a check that was misplaced at your place of employment and weren’t able to return it to the rightful owner? In this case, it would make sense to void the check and toss it to prevent fraud from occurring. It is healthy to keep the original check to remind yourself that it is void. You can also use the duplicates or photographs for various purposes.

• Once your account is linked electronically, your money will be deposited directly into your account on payday.
• 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.
• Professionals don’t even have to worry about losing their paper checks.
• They can ensure that your account matches where the funds will go.
• In some instances, like applying for a student loan or receiving a tax refund, organizations may request a voided check as proof of your existing bank account.
• You won’t need a void cheque very often, but it’s very inconvenient not knowing how to make one when you do.

In each of these scenarios, the use of a invalid check helps safeguard sensitive account information while providing the necessary details to facilitate various financial operations. But for those who don’t have a checkbook, how to get a voided check online becomes an important question. You may be able to get a void check online if this is a service that your bank offers. However, it’s important to note that online void check services are typically only offered by major financial institutions in developed financial markets.

How Can PostGrid Help Create and Mail Voided Checks?

While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. A void cheque for direct deposit is simply a cheque from your chequebook with the word “VOID” written on it. This makes the cheque void, while allowing an employer or a service that’s setting up auto billing to access the banking information they need to set up direct deposit. 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. First, your online banking portal may be able to provide you with a void cheque on demand. You may be able to save the pre-made void cheque as a PDF and then send that via email to whoever needs your void cheque.

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However, leaving these checks unattended could be a serious mistake. Anyone can get their hands on these incomplete checks and fill out the rest of the details themselves to withdraw funds. 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.

• Many employers use direct deposit to pay their employees instead of writing cheques.
• If there is an option to print a void cheque, you’ll find it in your account details.
• 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.
• That’s why it’s good to know how they work, even if you don’t frequently pay by check, so you remain protected when you use them.
• Voiding a check may seem as simple as just writing “void” across the front.

Electronic Payments

Some businesses even take payments over the phone, allowing customers to provide the information orally. Most banks make it easy to access void cheques via online banking. Despite being an invalid form of payment, a voided check, which shows your bank’s routing, account and check numbers, can play an important role in setting up various financial transactions. 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. FormPros offers a fast, secure, and hassle-free way to generate invalid checks online.

It means that the check can no longer be used after it has been cashed or deposited. To void a check, you’d have to cancel it before the recipient had deposited it. Jordann Kaye is a content marketing manager and spokesperson at Zolo Canada and freelance financial writer based in Halifax with more than 10 years’ experience. She writes about personal finance topics, such as investing, insurance, credit cards, and real estate. A void cheque is a regular cheque with the word VOID written across the front of the cheque. Voided checks reveal crucial banking information that if not shredded or disposed off properly can serve as linchpin to more dangerous scams.

The thought of writing a check may seem a bit archaic, but there are still many that use personal checks at the point of sale to make purchases. Furthermore, some have no problem writing checks each month, heading to the post office, and mailing them off to their lenders and service providers to cover bills. 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. By writing “VOID” on the cheque, you ensure it’s unusable in case the partially filled out cheque falls into the wrong hands after you throw it out.

What is a Void Check? How to Void a Check?

The GlobalBanks editorial team comprises a group of subject-matter experts from across the banking world, including former bankers, analysts, investors, and entrepreneurs. All have in-depth knowledge and experience in various aspects of international banking. In particular, they have expertise in banking for foreigners, non-residents, and both foreign and offshore companies. This article is part of our free series on sending money, including the ultimate guide to bank checks, which you can access here.

If you do not have a voided check available, you may be able to provide the specific account information that is being requested of you. A voided check refers to a bank check with the term “void” written across the face. This indicates that the check has been voided intentionally, which means it can no longer be used for payment. This is a fancy name for checks printed on demand for specific purposes at your bank or credit union. Banks typically charge a fee for these checks, which can be anywhere from a few dollars to as much as $25. But, if you normally have no need for paper personal checks, this can be a way to provide a voided one.

This is necessary if you intend to pay your car loan, mortgage and other bills online. For example, if you are in business and your suppliers prefer to be paid electronically, then a what is a voided cheque voided check may be part of setting up automatic payments. With advancements in digital banking, services like FormPros offer a convenient and secure way to generate a voided check online, catering to the needs of modern banking and finance. In this article, we’re going to share everything you need to know about void checks, including how to get a voided check and answers to common questions we receive about them from our members. If you’re self-employed, a freelancer, or you run a business, you may have certain clients whom you work with on an ongoing basis. To simplify and speed up payment, you may set up an electronic billing and payment arrangement with that client.

What Is a Void Cheque?

This eliminates any risk of losing funds from your account because no one else can use the check to withdraw funds. The deposit should be dated the same day you voided the check, but there should be another JE to offset that dated the same date as the original check. This streamlined process eliminates the need for physical checks while ensuring accuracy and security.

It can save you hundreds of hours and resources annually spent to create voided checks for vendors and other organizations. There are personalization tools to customize your voided checks with custom branding elements as well. A void cheque is often requested by an employer so it has the banking information it needs to facilitate setting up direct deposit of your pay into your bank account. For regular payments like utilities, loan repayments, or subscription services, companies often ask for a voided check. It enables them to set up an Automated Clearing House (ACH) transfer, ensuring timely and automatic deductions from your bank account for recurring bills. As paper checks become less common in banking, organizations that normally require a voided check may be more receptive to another method.

Alternatively, you can check whether your bank will allow you to print a void cheque directly from your online banking portal. If this is an option, you won’t need to keep physical cheques on you. Take a blank cheque from your checkbook and write VOID across the front of it. Make sure you write it in large letters to cover the whole cheque but don’t cover up the banking information at the bottom of the cheque as the recipient will need those numbers. A voided check may be perforated with a “Void” stamp, or crossed out, or have “Void” written across it, be shredded, or simply be stored in a voided checks file. It is best to permanently deface or destroy a voided check, so that no one can present it to a bank at a later date and expect to be paid for it.