Get started with a step-by-step guide, and take control of your money. It should be written across the entire front in large, preferably upper case letters. Use either with a dark pen or fine marker https://www.online-accounting.net/single-entry-bookkeeping-single-vs-double-entry/ so it will show clearly on the one hand, but still leave the important information intact on the check. Portions of this article were drafted using an in-house natural language generation platform.
Recurring Personal Payments
They should be given only to individuals who are both trusted and necessary in your life. If any person or organization requests a voided check, be prepared to question them about the exact purpose. Unless it’s one of the usual reasons, you should never provide income statement vs. pl a voided check to anyone. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site.
Why Do Companies Need a Voided Check?
The article was reviewed, fact-checked and edited by our editorial staff. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Yes, it’s the digital age, but you still need to know how to void a check. Be sure to keep images of your checks somewhere safe, like a locked filing cabinet or an encrypted storage container on your computer.
- Bankrate.com is an independent, advertising-supported publisher and comparison service.
- Voiding a check is a straightforward process that involves writing the word “VOID” on the check.
- If so, try voiding that check as if it came out of your checkbook.
- Employers may not be the only entities you’ll have a direct deposit arrangement with.
- You may need to void a check when you make an electronic financial transaction.
Recurring Payments
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 all else fails, you may be able to get official documentation from your bank or credit union instead of voiding a check. Ask for a letter, printed on bank letterhead, which lists your account number, routing number, and account type (checking or savings). Alternatively, some banks provide form letters for setting up direct deposit—print it while you’re logged in to the online banking system, and it should have everything you need.
About This Article
You may need to void a check when you make an electronic financial transaction. A voided check includes banking information required to ensure correct electronic banking transactions for people who https://www.online-accounting.net/ pay bills online and or are paid via direct deposit. As paper checks become less common in banking, organizations that normally require a voided check may be more receptive to another method.
Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. If you deposit a voided check in an ATM, it may be briefly accepted. But once the error is identified, the cleared funds will then be removed from the recipient’s bank account and returned to the original owner and a fee may be charged. If a voided check clears, customers can file a claim when they receive their statement. You may have to get creative, wait for checks, or find an alternative way to link your bank account.
Banks and credit unions are well instructed in methods of protecting personally identifying information and they will know the best way to send the letter safely to the intended party. A voided check is simply a paper check with the word “VOID” written across it, often in big letters, indicating without a doubt that it shouldn’t be used for making a payment. This precautionary measure prevents the check from being misused, whether you used it previously for an electronic payment or by thieves who might attempt to write a large sum of money out to themselves.