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A voided check is a check that cannot be used for financial purposes to pay for anything. You might be asked to void a check, and turn it in with some paperwork to get direct deposit started. Direct deposit allows your paycheck to go directly into your account. If you made a mistake when filling out a check, you might need to void that check.
- But, keep in mind that they may charge a small fee for providing the counter check.
- If you decide to use a check, learn the correct way to void it to keep you and your money safe.
- Sometimes you will need to void a check, and in order to avoid problems, you’ll need to know exactly how to do it.
- You can often get a voided check online by logging into your bank’s website or mobile app and selecting an option to request a voided check.
- When you void a check, that means the check cannot get deposited or cashed out.
But, to stop payment on a check, you need to give your bank more information, including the check number, amount of the check, check date, photo ID, and recipient name. If you accidentally give a signed check to someone or the check gets stolen, you will need to rely on the honor system if you decide not to take action. The only way for you to stop it from getting cashed or deposited is to request a stop payment from your bank.
How To Void a Check
That way, you’re helping protect yourself if someone else finds your check. 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. After you’ve recorded the voided check, you can either keep it in a secure file or completely destroy it.
Don’t cover up the routing or bank account number at the bottom of the check when voiding it, as those numbers are necessary for identifying your bank account to send or receive payments. You can even directly link your Wise account to your US bank, brokerage, credit card provider, PayPal, and many other services — and automate your payments through direct debits, which are free. Often, banks will provide instructions on how you can set up a direct deposit without a voided check. Reach out to your bank, or see if there’s any information online about how you can do this. The money also becomes immediately available as soon as it has been deposited directly into your account which is another huge bonus. No, you cannot deposit a voided check into your checking account.
Reasons for A Voided Check
This clarifies that the check should not be used for financial transactions. Then you must provide a canceled or voided check to facilitate the process. It allows the bank to verify your account details, ensuring the remaining funds can be transferred to your new account. Take a pen or marker and write the word “VOID” in large and bold letters on the front side of the check. Also, ensure that the word covers the check number, payee information, and monetary amount. If your checking account doesn’t offer checks, you may be able to set up direct deposit in other ways.
By clicking on some of the links above, you will leave the Chime website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Chime. We recommend you review the privacy statements of those third party websites, as Chime is not responsible for those third parties’ privacy or security practices. You can https://accounting-services.net/bookkeeping-101-everything-you-need-to-know/ also write “VOID” in a smaller font on the payee line, date line, amount line, signature line, and in the amount box. It’s okay if it covers up the different text boxes on the check. We’re the Finance Futurists, personal finance educators empowering Millennials and Gen Zers to invest in their future selves by learning how to make their money work for them.
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Once you’ve voided a check, it’s essentially disabled and cannot be used any longer. However, you don’t want to take any kind of chances when it comes to your banking information. We’ll break down the simple instructions for voiding a check properly in a moment. Of course, the offers How To Master Restaurant Bookkeeping in Five Steps on our platform don’t represent all financial products out there, but our goal is to show you as many great options as we can. Once you’ve voided a check and shared it with your employer or another business, make sure that you set up a budget to keep track of your income and expenses.