Kevon Miller Law
However, leaving these checks unattended could be a serious mistake. Anyone can get their hands on these incomplete checks and fill out the rest of the details themselves to withdraw funds. If you need to prevent a check you’ve written from being cashed, you can request your bank to stop payment on the check. Once a check has been cashed, you can’t reverse or void the transaction. Make a note of the check-in your check register so that you know where that particular check went. If you don’t, you’ll have a gap in check numbers, leading you to wonder what happened.
- This is the reason banks will request a void check rather than a blank one, i.e., to make sure it can’t be used.
- These online platforms save plenty of time with secure options for voiding checks.
- It would print the banking information on the official letterhead.
- Bankrate.com is an independent, advertising-supported publisher and comparison service.
If you make a mistake, you won’t get your paycheck as scheduled. Worse, the money could go into someone else’s account and you might be unable to recover it. Make the lines in the word “void” as dark and heavy as possible so there’s no way a thief can erase or cover them up.
What is a voided check?
Be sure to keep images of your checks somewhere safe, like a locked filing cabinet or an encrypted storage container on your computer. Balancing a checkbook and keeping track of all your expenses are great ways to start on the path to budgeting. Get started with a step-by-step guide, and take control of your money. Yes, it’s the digital age, but you still need to know how to void a check. Signing up is free and easy, and you can wave goodbye to those checks. The only way to give yourself peace of mind is to void the check and then throw it out or shred it.
Your account number and the bank’s routing number are preprinted on the check, so there’s no risk a slip of the finger will result in a payor or payee getting the wrong information. Companies don’t always need an original check to get your account information. Some companies allow you to scan or copy a check or deposit slip and send that instead.
Anyone who manages to get their hands on one could simply make it out to themselves and cash it. For example, if you are in business and your suppliers prefer to be paid electronically, then a voided check may be part of setting up automatic payments. This website is an independent, advertising-supported comparison service.
If you’re using the check to set up direct deposit or automatic payments, send it to the recipient. If the company is willing to accept a copy rather than the original check, you can fax or scan it instead of mailing it. If you’re like most people, you hardly ever use paper checks anymore. It’s much easier to make purchases with a debit card or payment app, use online banking to pay bills, and receive your paycheck by direct deposit. Businesses might need to hand over multiple voided checks to different recipients. Using an online check writer solution provides a convenient and secure method for printing and mailing void checks.
When to use a voided check
While both void transactions and declined payments result in the funds not going through, they differ in when and why they occur in the payment process. Cancelled payments, on the other hand, are more like refunds, as the funds have already been transferred to the merchant’s account. This option is common in online returns, where customers return a product after purchasing it, and the merchant refunds the payment. Unlike voiding, the funds are reversed back into the customer’s account after the payment has been settled. This doesn’t pose the same risk as sending a blank check because banks don’t accept photocopied checks. However, someone could still copy your account information and try to authorize a transfer out of your account.
Create a Duplicate of the Voided Check
Employers may ask for a voided check to help them set up direct deposit and you may need to void a check for other purposes, so it’s handy to know how. However, there are some alternatives to voided checks — like counter checks, a letter from your bank, or bank deposit slips — if you don’t have a paper check readily available. And if your goal is to set up direct deposit, certain accounts might allow you to do so without ever having to provide a paper check at all. You may need to provide a voided check when you set up automatic bill payments, deposits from your employer, or investments from your bank account.
If you’re unable to provide a voided check, or if your bank doesn’t offer paper checks, there are alternative methods to set up a direct deposit or an electronic payment. The most common use for a voided check is to establish a direct deposit¹. If you’re going to receive payments from an employer electronically, you can send them a voided check, so they have all of your bank information. Use the cloud-based platform to print high-quality, error-free checks or void checks online easily and securely.
Wise is a safe and easy way to send, receive and manage your money without any old-fashioned banks involved. Voided checks can serve an important role in direct deposits and other ongoing transactions. The void payment may appear as pending on the account for a short period, but the charge will disappear without voided check any deductions or fees from the customer’s account.
In short, voided checks — like checks themselves — aren’t obsolete quite yet. Someday they may be, but for now, they still serve a useful purpose. Online, an Internet scammer might find a way to enter their banking information in place of yours and intercept your paycheck. But a check with your name and banking details preprinted on it is much harder to fake. However, not all businesses are willing to accept a bank letter as proof of your banking details.
Voiding a check can help prevent fraud and protect your bank account from unauthorized transactions. The easy and secure way is to void checks using our check printing software. In addition to voiding checks, you can create unlimited checks using our platform.
The checks have the necessary banking information for companies to initiate direct deposits, electronic bill payments and automated clearing house transfers. Professionals don’t even have to worry about losing their paper checks. They can even use expired ones as void checks to request payments from their employers.