What is a Void Check? Definition Meaning Example

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. Reach out to your human resources department to ask void check meaning which alternatives they offer. For example, they might accept a bank letter or a voided preprinted deposit slip as verification of your banking information. There’s no need to sign a voided check and it may be safer if you don’t. A voided check is simply used for verification of your banking information.

• You also can’t discard it because if someone were to get hold of it they could withdraw money from your account.
• You will need to let the bank know which account to deposit the funds or if you prefer cash.
• To do that, you’ll have to write the word ‘VOID’ in capital letters going across the front of the check.
• Direct deposit will be the preferred way for those institutions to make payments and for you to receive them quickly.
• The voided check was adequately destroyed and the new one was assigned as the payment for that supplier’s invoice in the company’s accounting system.

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. 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. A voided check is deliberately canceled, marked "VOID" to prevent any financial transactions.

Q: Can someone still cash a voided check?

Consider using a password-protected PDF if sending your information by email. A cleared check may contain information that you or another party may prefer to keep private. In the event of a lost or stolen card, contact us anytime day or night to avoid fraud.

• 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.
• If you’re setting up direct deposit with your employer, you’ll need these numbers.If you’re opening a new account, make sure you order checks to have on hand.
• You also might be able to provide your routing and account numbers directly.
• They may ask for a voided check because all your account information can be found on there including your account number, account type and bank routing number.
• Although voided checks are a practical way of sharing banking information, don’t use them indiscriminately.

Be sure to keep images of your checks somewhere safe, like a locked filing cabinet or an encrypted storage container on your computer. In the other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider. Find out what ACH stands for, what it can be used for, and the pros and cons of ACH transfer. Wise is an online account that lets you spend abroad with your Wise card.

Requirements for a Voided Check

Expect to provide your routing number, account number, and your name. Many times, you’ll need a voided check to set up automated loan payments such as a mortgage payment, student loan, or auto loan. A voided check is a check that has the word VOID printed on it, whether handwritten or printed. The check cannot be presented for payment but still has information that can be used to verify your account and which bank holds your account.

This way, if your check gets lost, you won’t have to worry about it getting in the wrong hands. Whether scanning it on your computer or keeping a picture of the voided check on file. You’ll want to write it in letters that are large enough for anyone to read, and you’ll want to write in a large, thick pen, if possible. The notation of “void” is used because checks are prenumbered for control purposes and every check needs to be accounted for. Most checks are good for six months, but banks might still cash checks that are past this expiration date.

Do I sign a voided check?

And although I am a millennial, I still remember using a “voided check” to set up payroll at one of my first jobs during college. It's typically written in large letters so there's no chance of it accidentally being used. All you need to do if you want to establish a direct deposit is take an existing check and write the word ‘VOID’ across the front of it in large capital letters.

The information in this document was developed with reasonable care and attention. However, it is possible that some of the information is incomplete, incorrect, or inapplicable to particular circumstances or conditions. Most companies don’t even need an original; a copy of a voided check is good enough. Discover what FDIC insurance is, its limits, and the types of accounts it covers. Learn if your money is safe in banks, credit unions, and with CDs. No, it isn’t necessary to sign or put any information on a voided check.