This eliminates any risk of losing funds from your account because no one else can use the check to withdraw funds. Also, you cannot discard it because someone may use it to withdraw funds from your account. It doesn’t affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.
- It’s a good practice to keep a record of voided checks for at least one year to ensure you have a clear financial trail for tax purposes or to resolve any disputes that may arise.
- 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.
- Most employers ask for voided checks to set up direct deposits.
- Though we live in an age where most of our banking can be done digitally, there are some instances when you’ll be asked to provide your bank information using a blank check.
You can ask your bank to draw you up a “counter check”, a special type of check that can be officially voided by the bank but still includes your important account information. You might also ask the business or organization requesting a voided check if they would accept a deposit slip that has been voided as well. It’s a good practice to keep a record of voided checks for at least one year to ensure you have a clear financial trail for tax purposes or to resolve any disputes that may arise. Some financial advisors suggest keeping all bank records, including voided checks, for up to seven years, consistent with the period for which the IRS recommends retaining tax documents.
If the word ‘VOID’ isn’t clear, someone might still try to use the check. Make sure the check’s important details, like the account and routing numbers, are still visible. Sometimes, you may need to cancel a payment after writing a check. Voiding the check ensures that it cannot be used for any financial transactions. This is especially important if you decide not to proceed with a purchase or service.
Record which check has been voided
Writing the word “VOID” on top of the written information prevents someone from using it. This is the third instance where a voided check is beneficial. 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. You may also be able to set up deposit or withdrawal instructions using a deposit slip instead of a voided check. A pre-printed deposit slip might be required—not the blank ones you grab at the bank and fill out by hand.
Providing Digital Bank Account Verification
Some or all of the offers that appear on this page are from third party advertisers from which FinanceBuzz receives compensation. The easy way to do this is to write “void” in big letters so that it covers most of the check. Make sure the bank routing number and your account number on the bottom of the check are still readable, as well as the name and address of the bank (if included on the check). Alternatively, you could write “void” in the payee line, dollar amount box, signature line, and dateline. Your last option is to gather all your bank account information in one place so that you can fill out a form for your employer to set up a direct deposit.
- Your last option is to gather all your bank account information in one place so that you can fill out a form for your employer to set up a direct deposit.
- Having this information ready will save you time and help the bank process your request more efficiently.
- For example, if you are in business and your suppliers prefer to be paid electronically, then a voided check may be part of setting up automatic payments.
- Typically, you’ll need to void a check when you need to provide new account verification for setting up a direct deposit or direct withdrawal.
- When you void a check, you need to make sure it can’t be used fraudulently.
Before you can learn how to void a check you need to understand what this is. A void check is a check that has been canceled or invalidated by the sender writing the word VOID on the check. Sometimes you will need to void a check, and in order to avoid problems, you’ll need to know exactly how to do it.
Voiding a check makes it unable to be processed or honored by a bank or credit union. If you need a voided check to set up direct deposit with your employer, you have a couple of choices. You can take a check from your checkbook and write “void” across it in large letters and provide the check to your employer. A voided check is a check with the word “void” written across the front, which indicates that it shouldn’t be accepted for payment. The check can still be used to get the information needed for electronic payments. Bankrate.com is an independent, advertising-supported publisher and comparison service.
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We live in a very digital world when it comes to finances, but that doesn’t mean we may never run into things like checks again. Checks are still a great secure payment option that you might still need to use from time to time, even to make some electronic payments possible. If you already sent a check to someone, then it is not possible to void it. The recipient will be able to cash the check unless you immediately contact your bank and have them issue a stop payment on that check. Doing so will block the bank from honoring the check when the payee presents it.
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. If you don’t have a voided check, there are several alternatives you can use to provide your banking information for purposes such as setting up direct deposits or automatic payments. One common alternative is a bank deposit slip, which also contains your routing number and account number. Requesting a voided check is the usual way employers set up direct deposit into their employees’ checking accounts. Employees prefer direct deposit because it’s instantaneous and eliminates the need to wait for a paper check to clear their accounts.
A Letter From Your Bank Or Credit Union
If you don’t have a paper check, you can always go to your nearest bank branch and request a voided check. Voided checks can serve an important role in direct deposits and other ongoing transactions. 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.
Steps to Provide a Voided Check to Your Employer
You will need to know who it was for, how much it was for, and the check number. If you aren’t sure of any of this information or get it wrong, the check could still be cashed, and the only way to avoid financial loss would be to freeze the account. Instead of using forms, which require you to void a traditional check, try logging 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. For that reason, voided checks should never be provided lightly. They should be given only to individuals who are both trusted and necessary in your life.
Many small or less formal organizations may allow you to provide the information from your checking account directly to them in lieu of sending documentation. They don’t need a voided check; it’s just a matter of convenience if you send one. If you can provide your bank name, routing number, and your personal account number over the phone, it’s often good enough. Avoid sending this information in an email due to the security risks.
If you don’t have a spare blank check and still need to figure out how to get a voided check, there are a couple of options as well. A voided check is an official check from your banking institution that has had the word “VOID” written clearly (and in large print) all the way across the front of the check. Others will require you to purchase your checkbooks from them.
Properly voiding your checks is easy to do and can save you from future fraud. Grasp the meaning of APY in banking and CDs with our in-depth guide. Discover how APY impacts your financial choices and maximizes your savings.
Although it void a check meaning might sound complicated, voiding a check is actually quite easy. You can do this by taking a check from your checkbook and writing VOID in big letters all across its front page. It’s important that the letters cover the whole front part of the check but without covering the bank details on it. Another important thing is to use a black marker or a pen that can’t be erased, making it easier for thieves to use it as a blank check.
You can open a Wise account and receive money from around the world with local bank details. You should not give anyone a blank check because they can fill it out and withdraw money from your account. A voided check facilitates direct transfers, giving recipients faster access to their funds. Given that you cannot just submit a blank check, you void it to prevent anyone from filling it out and taking funds from your account. A voided check has the word ‘VOID’ written across the front of the check in capital letters. This allows us to maintain a full-time, editorial staff and work with finance experts you know and trust.
