Voiding checks might seem like a minor skill, but understanding how checks work is not fully understood by many people. The ability to void a check properly ensures that your money and personal information remain secure. Since the check contains sensitive financial information, dispose of it properly to prevent identity theft. Some people recommend shredding the voided check, which is a good idea if it was simply a mistake. If the check has already been processed, including through mobile deposit, you don’t need to void it.

How to Void a Check — And Protect Your Bank Account

However, a voided check can still be used to gather information about a person’s bank details such as bank account number, routing number, and check number. This is the main reason why you should manage them carefully and keep them safe and out of reach.Voiding a check makes it invalid and impossible to use as a blank check. This means that if your void check falls into the wrong hands, they won’t be able to abuse it. Void cheques are safe to share with those who need your banking information.

How Long Are Checks Good Forarrow-right

OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances. FinanceBuzz makes money when you click the links on our site to some of the products and offers that we mention. These partnerships do not influence our opinions or recommendations. FinanceBuzz writers and https://www.bookstime.com/ editors score products and companies on a number of objective features as well as our expert editorial assessment. Acquiring business funding can be difficult if you don’t have perfect credit, tons of collateral, or established connections. Make sure to note its official check number in your ledger as you do.

Void Cheque (or Void Check) Meaning

• You do not need to sign the check or enter any other information for it to serve the intended purpose.
• When you hear the term “void,” it’s like saying something is nullified or rendered ineffective.
• The easiest way is to just print a void cheque from your online banking portal.
• The products and services offered on this third-party website are not provided or guaranteed by the bank.
• Voiding a check is simple, but you have to do it correctly to ensure it serves its purpose without creating security risks.
• Autopay can be very useful to stay on top of recurring bills like utilities, rent, or credit card payments.
• Deposit slips contain your account information, and you can write “VOID” across the slip.

Employers, landlords, and the government still request them for payroll, rent payments, or benefit deposits. Writing paper cheques is going out of style, and many people actually don’t have cheques anymore. retained earnings balance sheet It’s much more common to make payments or receive payments through debit cards or cash. If you don’t have a void cheque to offer, it’s not always the end of the world. Many companies are flexible enough that they are willing to set up payments in a different way.

• You may be asked to send a voided check if you want to set up an electronic payment method for certain bills.
• Also, if you use duplicate checks, be certain that the VOID marks are visible on the duplicate as well.
• Sometimes, service providers or financial institutions may need to verify your account information.
• The days of receiving paper payroll checks and taking them to the bank to have them cashed are long gone.
• You may want to set up automatic payments for bills like utility bills or mortgages.
• 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.
• If you’re the one making the payments, you may need a voided check from the other party to connect the accounts.

Lost Checks

In a way, voiding a check you already wrote is a safe method of destroying the check. For instance, maybe you wanted to write a check out to a newly married couple and wrote the check out to Mr. and Mrs. Johnson. This can actually be a bit of a problem for them when they go to deposit the check if the bank account they want to use for that check is only in Mrs. Johnson’s name. Before you can learn how to void a check you need to understand what this is.

• Understanding what “void” means on a check is crucial for preventing financial mistakes.
• They also use the information to verify that your account matches where the funds are being sent to ensure they’re going to you.
• They help prevent check fraud by rendering the check unusable for unauthorized withdrawals.
• 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.
• Some organizations allow you to submit a screenshot or printout from your online banking portal, displaying your name, account number, and routing number.
• Voiding the check makes the recipient unable to do this anymore.
• It’s another way to help ensure your bank account is safe and secure.

When Verifying Account Information:

The article was reviewed, fact-checked and edited by our editorial staff prior to publication. The only way to give yourself peace of mind is to void the check and then throw it out or shred it. If you add one too many ‘0s’ to your check, you can’t just correct it and hope it works out. You also can’t discard it because if someone were to get hold of it they could withdraw money from your account.

Write in big, bold, clear print VOID on the face of the check

Rather than remembering to send money every month, you can set up automatic payments from your bank account to pay for bills. This can prevent you from incurring late fees or losing your payments in the mail. Many people choose to set up these payments for credit card bills, loans, and void check meaning utility bills.