What is a voided check and what are some examples?
You may need a voided check to set up a bank account, direct deposit, or automatic bill payment. You may also decide to void a check if you filled it out wrong or completed a mobile deposit and want to make sure it can’t be used again. If you’re trying to set up online bill payments, you may be able to do that through your online banking access, with no voided checks or paper forms required. You can easily void a check by writing “VOID” across the front of the check, using blue or black ink and large letters. You may need to void a check to set up automatic transactions, like direct deposit of paychecks to your checking account.
Why Do Companies Need a Voided Check?
Employers often use voided checks to set up direct deposits for their payroll, and service providers may need them to set up direct debits. This is because a blank check has all the information they need, such as routing or account numbers. Although it is not strictly necessary to get this information from a check, using one reduces the likelihood of a transcription or other type of error.
A voided check has the word ‘void’ written across the check which is used to make it easier for providing banking information to someone and can be used for recordkeeping purposes. Technically, you expose your account what is a voided check information every time you write a check, so you might wonder if it’s any worse to email an image of your check. When there’s a paper check involved, the only way to use the information is to get a copy of the check.
Setting Up Direct Deposit Without a Voided Check
For example, you might end up bouncing other checks or missing payments because there’s not enough money for necessary payments. Rather than writing “void” on a check if a mistake is made when filling out the check, you can just rip it up or shred the check.
Check with the merchant you want to pay or the lender to whom you make loan payments, to see if they have online options for enrolling in automatic bill payment. If you give your employer a voided check, be sure to record it in your check register so that you can keep track of which check number was used.
You need to set up automatic payments
Those numbers are what the person receiving the voided check will use to identify your checking account. Employer’s use a voided check to ensure accuracy when setting up direct deposit. A mistake in either the routing number or the account number can create delays in payment and may lead to other costs. In some cases, you can use a preprinted deposit slip to verify your banking information. A preprinted deposit slip has the same information as a voided check, including your name, routing number, and account number. Certain types of transactions might require a voided check to verify your banking information. If you need to provide this info, you’ll often be asked to include your routing number and account number on a form but also to include a copy of a voided check.
- Check with the merchant you want to pay or the lender to whom you make loan payments, to see if they have online options for enrolling in automatic bill payment.
- The main goal is to ensure your paychecks are going to the correct account.
- This could happen, for example, if the physical check is converted to an electronic payment.
- Employers might ask for a voided check to set up direct deposit.
- A routing number indicates a specific financial institution, as well as the geographic region of the country it is located in.
- However, it’s just as important that you know how to do so safely, securely, and while maintaining as much of your personal and private information as possible.
For example, setting up autopay for your rent, utility bills, or phone bills may require a voided check if you choose to use https://www.bookstime.com/ a direct debit from your bank account. In order to set up a direct deposit, your employer will need your account details.
Where can I find my routing or account number on a check?
The payee, that is the person or organisation who you wrote the check to. Typically this will be a blank check that you are asked to submit along with a Direct Deposit Authorization Form, or something similar. Don’t use a pencil, since someone could come along and “unvoid” your check by erasing your marks. The most important thing is to be sure that it cannot be erased or obscured in any way. A wire transfer is an electronic transfer of funds across a network administered by hundreds of banks around the world. Rebecca Lake is a journalist with 10+ years of experience reporting on personal finance. If you need to void a check for any reason but don’t have one, there are workarounds you can try.
This is because a blank check has all the information they need, such as routing or account numbers. Although it is not strictly necessary to get this information from a check, using one reduces the likelihood of a transcription or other type of error. Paper checks are a traditional form of banking and many of the best checking accounts still used them. But we live in a modern world with new approaches ways to handle money. Check out these two apps that can help you get your direct deposits faster and without providing voided checks.