Voided checks
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Billers, such as utility companies, also accept payments by e-check when customers input their checking account information. Some businesses even take payments over the phone, allowing customers to provide the information orally. Employers often use voided checks to set up direct deposits for their payroll, and service providers may need them to set up direct debits. This is because a blank check has all the information they need, such as routing or account numbers. Although it is not strictly necessary to get this information from a check, using one reduces the likelihood of a transcription or other type of error.
If you write “Void” on a check, always use ink; someone could erase a “Void” mark made with a pencil and then try to cash the check. Grab a check out of your checkbook, and write “void” across the front. Write with well-spaced letters that are tall and wide enough to cover the whole face of the check without obscuring the banking information at the bottom.
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You don’t need to sign the check or add any other information when you’re voiding it. Next, list the check in your check register what is a voided check so that you don’t forget where it went. There may be several instances when someone could ask you to void a check.
It’s possible that they would succeed, causing money to be removed from your account without your consent. Your company will place the voided check in your file so that it can be referenced in the future if necessary.
What is a voided check for direct deposit?
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 chequebook and write VOID across the front of it.
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You can set up your direct deposit to put $1,000 of your check into your checking account. Another option is to ask a teller at your bank for documentation that provides the same information as a voided check. A letter on bank letterhead with your account information could work. All you really need to provide is your account number and the bank’s routing information. Having the voided check on-hand also reduces the likelihood of payroll using the wrong information when it sends out paychecks since they have the check on-hand to reference. Rather than writing “void” on a check if a mistake is made when filling out the check, you can just rip it up or shred the check. Throw the pieces in a couple of different trash cans to keep your banking information safe.
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A person can void the check by simply writing the word ‘void’ across the front page of the check. This voided check can be used for passing banking information to another party. This information can be used to set up the account for salary payment or mortgage or EMI payment. Some companies may require a voided check to set up direct deposit, while others may be able to work with you to find other alternatives. The main goal is to ensure your paychecks are going to the correct account. Although the primary purpose of a check is to facilitate a money transaction, voided checks exist for several reasons.
For example, you may intend to write out a check for the amount of $50, but you accidentally add an extra zero, making it $500. You don’t want that check to accidentally get processed for the wrong amount, so you void it out. Rather than figuring out the process as it comes up, learn everything you need to know about voiding a check now so that you’re fully prepared in the future. Email isn’t always secure and using email can put your information at risk. This step keeps parties who don’t have the password from viewing the document. If you need to cancel payment on a check that has already left your hands, you’ll need to contact your bank. A bank statement is a summary of your account activity during a set time period.