While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. Knowing how to use a voided check and what it entails is all part of managing your personal finances. Remember, a void check is a document that provides a means of sharing your banking details when required. By following the guidelines mentioned above, you’ll be able to effectively provide a voided check when necessary. You’ll also ensure that your bank account isn’t tampered with while at it. So the next time you’re asked for a void check, you’ll know what to do.
What Are Voided Checks?
Worse, the money could go into someone else’s account and you might be unable to recover it. Write down the check number and the date, and under “transaction description,” just write the word “void.” Enter a zero or a dash for the amount of the check. Alternatively, you can write “void” in each field of the check separately. By voiding the check first, you eliminate any risk that someone else will use it to take money out of your account. Most companies don’t even need an original; a copy of a voided check is good enough.
Is it safe to send a voided check via email?
In addition, a voided check takes away the hassle of sending in payments or setting up an online payment each month because it automatically comes out on the specified date. It may or may not have other information filled in throughout the check. The text should be clearly seen, but it doesn’t cover up any other writing beneath it. The offers that appear on this site are from companies that compensate us. 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.
Get a Letter from the Bank
A voided check is a check that can no longer be accepted as payment from anyone. It has the word “VOID” written across it and therefore is not a blank check either. A voided check will still have your account details on it but it cannot be used to process any payment. Sending a voided check isn’t the only way to set up electronic payments.
Send & Receive
Then you know that no one would be able Partnership Accounting to alter the check and spend it, because it has been voided. A voided check is a check which is no longer valid and has the word ‘void’ written on the front. No, once a check is voided, it cannot be reinstated or reused as a valid form of payment. It ensures that the check cannot be accepted by banks or financial institutions for payment.
You need to set up automatic payments
In such instances, the company may request a voided check to be sure that they have the correct account details. In order to set up a direct deposit, your employer will need your account details. They may ask for a voided check because all your account information can be found on there including your account number, account type and bank routing number. You can also use a voided check to set up automatic electronic payments, including ongoing expenses such as rent and bills. This information is most often used to set up an electronic link to your bank account. For example, you can provide a voided check to a person or company.
- Not all companies will take a counter check, so make sure you find out if it’s acceptable.
- If you don’t have either a check or a deposit slip, you can ask your bank to write an official letter containing your account number and routing number.
- Lastly, digital forms or authorization through your bank’s online system to provide the necessary information electronically are increasingly accepted.
- If you don’t have a checking account, you can use one of these other methods.
- Instead of voiding a check and submitting it through a form, you can now set up your direct deposit or automatic payment through their online system.
In today’s increasingly digital world, a voided check seems like a rather quaint way to send your banking information. However, there are advantages to using one rather than sending your information electronically. However, not all businesses are willing to accept a bank letter as proof of your banking details. Check with the company before getting one to make sure it’s acceptable, and check with your bank to see if they charge a fee to draft the letter. If you voided the check to correct an error, just put it in the shredder.
Direct Deposit
- You can request a counter check with your account information from the teller at any branch of your bank.
- You’ll just need your bank details at hand and then input them directly.
- You can open a Wise account and receive money from around the world with local bank details.
- A voided check is a check with the word “void” written across the front, which indicates that it shouldn’t be accepted for payment.
- If you don’t have a paper check, you can always go to your nearest bank branch and request a voided check.
- Once a check has been voided, it’s no longer usable as a form of tender.
The most common payroll use for a voided check is to establish a direct deposit¹. If you’re going to receive payments from an employer electronically, you can send them a voided check, so they have all of your bank information. Additionally, many banks can provide a pre-printed letter or document that verifies your account details. Some institutions may accept a printed online banking statement that includes your account and routing numbers.