What Is a Void Cheque?

Since there is no cash value and you haven’t signed or dated it anywhere, it will not expire. Since cheques aren’t widely used anymore, you might find yourself needing a voided cheque without any cheques on hand. This situation is becoming more common since e-Transfers and other forms of electronic transfer are the norms when it comes to moving money around. If you don’t have cheques on hand that you can void, you have some options.

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Keep in mind that some of these options may not be acceptable to whoever is requesting the void cheque. If you plan to use an alternative to a void cheque, confirm with the party requiring it to make sure that these alternatives are acceptable. Void cheques aren’t used as often as they were in the past, but you may still encounter them from time to time so it’s essential to know the basics. Here’s everything you need to know about what a void cheque is, what it’s used for, and more. Most companies don’t even need an original; a copy of a voided check is good enough.

If you’ve been what is a voided cheque handling your finances for some time, chances are you’ve seen a personal check with the word “VOID” written boldly across the front. All this means is that the check is now invalidated and can’t be deposited or cashed by the intended recipient. Voided checks are official checks from banking institutions, but they have the word “VOID” written clearly across the front. Individuals and businesses write this word in large letters to avoid accidental use.

You may be asked to send a voided check if you want to set up an electronic payment method for certain bills. That will eliminate the need for you either to issue a paper check in payment, or to go online and arrange the electronic payment manually. Similar to canceled checks, voided checks cannot be used to withdraw money from a deposit account. However, voided checks still show electronic banking information to help individuals or organizations connect with a bank account.

What Is a Void Cheque Used For?

• Kevin Villena is the Marketing and Sales Specialist at PostGrid.com, boasting a decade of experience in the Direct Mail industry.
• For regular payments like utilities, loan repayments, or subscription services, companies often ask for a voided check.
• This helps ensure that no one can use your cheque to withdraw money from your account.
• A void cheque is a cheque with the word “VOID” written across it, which prevents anyone from filling out the cheque and using it to make a payment.

Learn if your money is safe in banks, credit unions, and with CDs. You can open a Wise account and receive money from around the world with local bank details. No, it isn’t necessary to sign or put any information on a voided check.

• If you don’t have any checks, and you want to set up a direct deposit or automatic electronic payment, there are other ways to do so.
• It means that the check can no longer be used after it has been cashed or deposited.
• A voided check can be useful for providing the necessary information for certain electronic payments, such as direct debits.
• Use large letters that fill up the entire check, or write “VOID” in smaller letters on the date, payee, amount, and signature lines.
• If both these alternatives aren’t working, you can ask your bank to record your pertinent account details and then notarize the letter.

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The “void” writing tells the receiver (and anyone else who handles the cheque) that the cheque has no cash value. If a thief were to steal a cheque that is void, they would not be able to use it to withdraw money from your bank account. The Smart Investor (this website) is an independent financial website.

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(Some banks may choose to honor personal checks after this point but are not legally obligated to do so). But what if you write a check from your checking account and later discover that you’ve made an error? Maybe you misspelled the recipient’s name, entered the wrong amount, or used the incorrect date? These scenarios would call for you to void the check and rewrite another one using the correct information. To void a cheque, you simply need to write the word “VOID” in ink in large capital letters across the front, without covering the numbers at the bottom of the check. It’s a good idea not to sign the cheque to safeguard it from being misused.

Employers may not be the only entities you’ll have a direct deposit arrangement with. Direct deposit will be the preferred way for those institutions to make payments and for you to receive them quickly. Do you prefer to set up autopay so you won’t have to worry about going in and scheduling payments to come out of your account each month on the due date or a date that you’d prefer? But for automatic payments to start, they may request that you send over a voided check so they can have your official routing and account number on file.

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You can also ask for a paper copy of the Payroll, Direct Deposit, or Pre-Authorized Payment Form at your CIBC Banking Centre. Using the online form saves time and lets you type in your information. 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. You can try the alternatives below if your account does not offer checks.

By asking you for a check, your employer reduces the potential for errors. If you have to fill out a form, it’s possible you’ll make a mistake. If the employer has to read your handwriting, perhaps it’s not perfect and a mistake is made when entering the information. Kevin Villena is the Marketing and Sales Specialist at PostGrid.com, boasting a decade of experience in the Direct Mail industry.

Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. In the other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. Understand the key differences between APR and APY, and how they affect your savings accounts, CDs, and even crypto investments. Signing up is free and easy, and you can wave goodbye to those checks.

The bank teller should be able to print a check for you, which will have your account information on it. You’ll then be able to grab a pen and void the check in the exact manner we’ve described above. This is a seldom-discussed aspect of voided checks, but it’s critically important for protection from identity theft. There are several common situations when someone will ask for a voided check, which the next section discusses.

The product offers that appear on this site are from companies from which this website may receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The Smart Investor does not include all companies or all offers available in the marketplace and cannot guarantee that any information provided is complete. If you do not have a checkbook, the process of getting checks, voiding them and providing it to the employer for direct deposit can be difficult compared to the available alternatives. You can use a voided check to schedule regular payments from your checking account.

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. You want to make it difficult for thieves to erase or cover your void mark.