What is a VOID Cheque?

A VOID cheque is a cheque that is not useable for any bank transaction. Instead, it simply provides an authenticated user with the ability to deposit funds into your account using your information.

Void checks are handy because they let you share the number of your bank account and bank routing numbers without worrying if anyone will use the cheque.

Why do I Need a Void Cheque?

The recipient of your void cheque may use this information to run an electronic transaction to deposit money in your bank account. Using voided cheques is entirely safe if the transaction involves moving funds from one account to another between individuals who maintain accounts with different banks located a certain distance apart. For instance, if you have an account with Scotiabank, and want to use a voided cheque to get cash out, then the bank will not let you. In those cases, electronic funds transfers are easier, as long as you can produce the void cheque paper for payments to be directly posted to your bank account.

Do You Need Void Cheques?

If you do not use checks, you may need to figure out alternate ways of linking bank accounts and setting up auto payments. Setting up electronic check payments automatically, connecting your bank account, and making direct payments are a few things you can do with a voided check. If you do not have access to paper checks, you can void them and give them to an employer or a merchant who needs them; there are other ways to set up ACH transactions.

If you get an employer’s payment electronically, you could send them a voided check, giving them all your bank information. However, if your employer does not want the voided check and uses a form instead, you need a few pieces of information from your bank to correctly fill out the form.

The bank teller would need to print out the check for you on a counter; then, you can clear it and use it if necessary, according to the instructions listed here. If you do not have checks on hand, you could go into a nearby bank branch and request a counter check. If you have access to a check printing machine, you can print out the check and use it to perform whatever financial transaction it is intended for. Generally, a check is a document you sign that authorizes a receiver to draw an amount specified from your bank’s checking account.

Voiding a check you have:

Get a cheque with your name and address if you have one. Write “VOID” across the front of the cheque in pen. You voided the cheque!

All you have to do if you are looking to set up direct deposit is to grab your existing check and put the word voided in big, capitalized letters on the front. Make sure to write the VOID in big letters to cover a blank cheque, but do not cover any bank information on the back of the check because those numbers are what the receiver will need.

Taking the voided cheque into any licensed bank branch close by will enable them to take a photo and deposit it in your account in minutes once they have verified its authenticity. While many merchants and lenders may accept the bank institution’s information, it is usually necessary to present the blank check for a void. Voided checks can also be needed when setting up automated bill payments, like bill-paying utilities or even auto-paying for home or student loans. Therefore, it is best to taint or destroy the voided check permanently, so no one can take it to the bank later and expect to get paid.

Also Read: How to Write a Cheque

How to get a void cheque online

Get a VOID cheque online by visiting your online bank account with your financial institution. You will be able to print it off easily.

Provide a Void cheque for payments or deposit

If you want to set up a direct deposit with an employer, you cannot simply send in a blank check for the bank’s information because someone can fill out a check and withdraw the money from your account. Knowing how to clear a blank check can be helpful in some situations, like when you want to set up a direct deposit into your checking account. Knowing how to void a blank check is helpful if you need to set up automatic payments for your credit or you want to begin receiving paychecks through direct deposit.

A voided check will have all your banking information printed on it, so it can give others all the information they need to set up a direct deposit payment from your account. A voided check can help provide necessary information for some electronic payments, like direct debits. Employers can use the bank information printed on a check to establish an electronic link for making payments or withdrawals to or from a bank account. That particular check can no longer be used to make purchases or to access funds from the linked bank account without your permission, but the voided check is still convenient.

At this point, the only way to stop a check from being cashed or wired is to ask the bank to issue a Stop Payment, which can come with fees.

Final thoughts: Void checks

Before making a claim, verify with the person you are providing your required account information that a letter from your bank would be a substitute for a voided check. You may even want to ask the bank to send a letter to your address that includes the required account information, or you can obtain a pre-printed deposit slip or counter-check from your bank and use this in its place. If you cannot use the deposit slip or the counter cheque, your bank may be able to give you a formal letter with your routing number and account number, which you could use in place of the voided check. If you need a Stop Payment Order on the check, your bank likely needs information about the check that you wish to void.

Void checks have been around for quite a while, but they continue to be popular because they offer a fast way to get money out of your account without relying on physical cash or a personal check.

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