Checks get frequently utilized to receive direct deposits and make automated payments. These transactions can help you streamline your money and have more control over your deposits and withdrawals.
What is a Void Check?
A void check is one on which the word “VOID” gets written across the front. You don’t have to ask your bank or credit union for a canceled check if you’re required to produce one. You can separate it from your supply and mark it “VOID.” The word “VOID” does not have to cover the entire check, but it should be large and dark enough to prevent it from being cashed. Don’t scribble over the bank account number at the bottom of the check.
What is the purpose of a void check?
When setting up a payroll deposit or automatic payments, you could be requested to present a void check. Because your account information gets printed on every cheque, you can utilize the void check to create an electronic link to your bank account.
Voiding the check ensures that you are not sending out a “blank cheque” that fraudsters could use to withdraw funds from your account.
Instead of paying their staff with checks, many firms use direct deposit. Your money will get paid immediately into your account on payday once your account is linked electronically.
You can set up regular payments for recurrent expenses like bills and rent so that money is routinely deducted from your account rather than needing to write a check or pay in person.
How to void a cheque
Even if cheques appear to you to be cryptic relics from the past, voiding a cheque is quite simple. It’s even simpler than writing a check. Grab one from your checkbook and write the word “VOID” across it with a dark pen or marker to void a cheque. Make the letters large and well-spaced so that they cover all of the fields you’d ordinarily fill out. If someone gets their hands on the cheque, they won’t utilize it because the fields are blank. Just make sure the digits at the bottom of the check aren’t covered. Remember, these are the numbers that will get used to establish electronic contact between two parties.
Just make sure the digits at the bottom of the check aren’t covered. Remember, these are the numbers that someone will use to link their bank account to yours electronically.
What other options do you have besides voiding a check?
You can always utilize the direct deposit or pre-authorized debit forms connected with your bank account if you don’t have a checkbook or don’t have access to your cheques.
Most banks provide this information online, allowing retrieve your account number and routing number quickly. From here, you can send the form to any organization you want, whether it’s your new employer, a vendor, or a service that requires monthly payments. Although void cheques are still a possibility, you’re usually better off downloading the relevant bank account’s direct deposit forms and storing them safely. If you’re “stuck in your ways” and refuse to change, a void cheque will suffice.