Whenever you give bank information to others, there is always a danger of falling into the wrong hands. Many companies have no trouble reissuing a check if not more than a year or two has passed since the original date specified in the check. Checks are sequentially numbered, so it is better to void them instead of shredding or destroying them right away. This is in case the owner forgets and gets a headache looking for a missing check.
How to Void a Check
Try those first and you avoid the risk of your sensitive financial information falling into the wrong hands. Voiding a check is a common practice used to nullify incorrect checks and set up direct deposits or bill payments. The process is fairly straightforward, but it’s important that you do it carefully to avoid someone using your writing off stock check fraudulently. 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.
- If all else fails, you may be able to get official documentation from your bank or credit union instead of voiding a check.
- First, it’s important to know that you should never give someone a blank check, especially someone you don’t know.
- Once you have the voided check you need, consider scanning or photocopying it.
- Voiding a check can be a key step in setting up financial transitions like regular payroll direct deposits.
Deposit Slips
You may have several of these pre-printed slips in the back of your checkbook. No two accounts at the same bank will have the same account number. https://www.quick-bookkeeping.net/pay-stub-meaning/ The city and state of the bank is not the address of the branch you go to. It’s the city and state of the headquarters of the bank.
Send the Check or Image
If all else fails, you may be able to get official documentation from your bank or credit union instead of voiding a check. Ask for a letter, printed on bank letterhead, which lists your account number, routing number, and account type (checking or savings). Alternatively, some banks provide form letters for setting up direct deposit—print it while you’re logged in to the online banking system, and it should have everything you need. Voiding a check is a straightforward process that involves writing the word “VOID” on the check.
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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. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards https://www.quick-bookkeeping.net/ in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team.
If you’ve never set up direct deposit before, it can be intimidating. These contain almost the same information as your voided check, minus your name and address. All the rest, including bank name, routing number, and account number, are stated. There are instances where voided checks may still be cashed by the payee.
See if you can set up your bank account link entirely online. Instead of using forms, which require you to void a traditional check, try logging what is the formula for calculating earnings per share eps into your account (or ask if there’s an online system). In most cases, you need to provide your bank account information in an online form.
This will open the possibility of accessing your money or even stealing your identity for other purposes. It should be written across the entire front in large, preferably upper case letters. Use either with a dark pen or fine marker so it will show clearly on the one hand, but still leave the important information intact on the check. Writing “VOID” across the front of the check prevents anybody from using the check to make a standard check payment (by filling in a payee and an amount).
We do not include the universe of companies or financial offers that may be available to you. The information in this document was developed with reasonable care and attention. However, it is possible that some of the information is incomplete, incorrect, or inapplicable to particular circumstances or conditions. If you can send a hard copy of the voided check via fax, so much better. There will be less risk involved since transactions like these are not prone to hacking. If the check issuer is your employer, this will allow them to balance their account.
You only need to sign an agreement authorizing such transactions. If you are paying via check, this should not be a problem. If it is your check, you should write yourself a new one and not waste time thinking of what-ifs. There you have it—that’s everything you need to know about how to void a check. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.