Because it includes your name, bank account and routing numbers, a voided check could put your finances at risk if it falls into the wrong hands. Before discarding the voided check, shred it so https://www.bookstime.com/ any sensitive information is unreadable. If you don’t have either a check or a deposit slip, you can ask your bank to write an official letter containing your account number and routing number.
The banks, lenders, and credit card companies are not responsible for any content posted on this site and do not endorse or guarantee any reviews. However, not all businesses are willing to accept a bank letter as proof of your banking details. Check with the company before getting one to make sure it’s acceptable, and check with your bank to see if they charge a fee to draft the letter. It’s similar to the sample or starter checks you get when you first open a checking account. Companies don’t always need an original check to get your account information.
Related to Void check
This way, if your check gets lost, you won’t have to worry about it getting in the wrong hands. Once you’ve voided your check, make sure to keep the correct records. You’ll want to make a note in your checkbook that this check was voided. Simply write VOID, with the check number and date and then add a note with the name of the recipient you gave the voided check to.
Your paper checks all have your bank information on them—the name of your bank or credit union and your account and routing number. By giving a voided check, you give the person establishing the link to the bank account information they need to set up your direct deposit. But because the check is void, they won’t be able to use the check to take money from your account. If you want to avoid writing checks for mortgage, rent, and insurance, you can use a voided check to set up automatic electronic payments. Once you set everything up, the amount will be deducted from your bank account each month automatically.
When It Makes Sense to Void a Check
If you write the wrong dollar amount, then you’d have to void the check to keep anyone from cashing it or depositing it. A canceled check means the clearing process is finished, and the check cannot be reused. You can open a Wise account and receive money from around the world with local bank details. 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.
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- However, it is possible that some of the information is incomplete, incorrect, or inapplicable to particular circumstances or conditions.
- Whatever you do, never sign a voided check or write any additional information in the blank spaces provided.
- Signing up is free and easy, and you can wave goodbye to those checks.
As was the case with direct deposit, the lender will want to use the bank account information listed on the bottom line of the check. First, it’s important to know that voided check means you should never give someone a blank check, especially someone you don’t know. This is because anyone can fill it out and withdraw money from your bank account.
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For example, online banks allow you to link external accounts by typing in those details yourself. 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. Voided checks can be a useful tool in managing your finances, especially when used to set up direct deposit or autopay. Direct deposit of your paycheck provides a convenient way to access your money faster while eliminating the risk of paper checks being lost or stolen. Automating payment of your mortgage, loans, credit cards, utilities and other bills helps prevent late fees and can even benefit your credit score.
Voiding a check can be a key step in setting up financial transitions like regular payroll direct deposits. Voiding a check properly by writing “VOID” in large letters on the documents will help reduce the risk that the check will be cashed. In lieu of a voided check, you may also be able to provide documents such as a direct deposit slip that can provide the key financial information for the transition. You can also use a voided check to set up automatic electronic payments, including ongoing expenses such as rent and bills. Autopay can be very useful to stay on top of recurring bills like utilities, rent, or credit card payments.
What Is A Voided Check?
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. In order to send the correct information to the bank to stop payment, you will need to extract the requisite information from either a copy of the check or the check register. If you deposit a voided check in an ATM, it may be briefly accepted.
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- To do that, you’ll have to write the word ‘VOID’ in capital letters going across the front of the check.
- In short, voided checks — like checks themselves — aren’t obsolete quite yet.
- If not, your bank may be willing to issue you what’s referred to as a counter check.
- Ask the requester if they’ll accept a deposit slip or letter from the bank containing your account information in its place.