These brands compensate us to advertise their products in ads across our site. This compensation may impact how and where products appear on this site. We are not a comparison-tool and these offers do not represent all available deposit, investment, loan or credit products. If you already sent out a check without marking it as void or suspect that one has been lost or stolen, you could still put a stop order on the check to prevent your money from being stolen. You must first contact your bank and see if that particular check has already been cashed. If it hasn’t, they should be able to put a stop payment on that check.
Are There Alternatives To Voided Checks?
First, it’s important to know that you should never give someone a blank check, especially someone you don’t know. This is because anyone can fill https://www.quick-bookkeeping.net/how-to-estimate-burden/ it out and withdraw money from your bank account. This is why employers ask for a voided check to set up direct deposit, not a blank one.
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Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy. If you’re going to provide the voided check electronically, don’t just send it out in the open, in a standard email message. Take steps to hide your account information from thieves and hackers. For example, consider encrypting the image or uploading it to a secure file vault.
Recurring Payments
Requesting a voided check is the usual way employers set up direct deposit into their employees’ checking accounts. Employees prefer direct deposit because it’s instantaneous and eliminates the need to wait for a paper check to clear their accounts. Despite being an invalid form of payment, a voided check, who goes to prison for tax evasion which shows your bank’s routing, account and check numbers, can play an important role in setting up various financial transactions. 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.
Direct deposit is your ticket to Early Pay
Voiding a check is a common practice used to nullify incorrect checks and set up direct deposits or bill payments. The process is fairly straightforward, but it’s important that you do it carefully to avoid someone using your check fraudulently. As daily cash receipts journal paper checks become less common in banking, organizations that normally require a voided check may be more receptive to another method. Try those first and you avoid the risk of your sensitive financial information falling into the wrong hands.
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- If it hasn’t, they should be able to put a stop payment on that check.
- If you already sent out a check without marking it as void or suspect that one has been lost or stolen, you could still put a stop order on the check to prevent your money from being stolen.
Voiding a check for direct deposit is safe because nobody can deposit or cash it. Money can’t be withdrawn from your checking account using a correctly voided check. Whatever you do, never sign a voided check or write any additional information in the blank spaces provided. The purpose of a voided check is to provide your bank name, routing number, and personal account number. Bankrate.com is an independent, advertising-supported publisher and comparison service.
When an original check is not required (for example, if you’re going to fax in the instructions or submit an electronic image of your check), you can use the same copy repeatedly. A creative solution is to have a check printer to generate an image of a voided check for you. This method won’t work if you need to mail the check, but it can help you get an electronic image of a check containing your account information. Start the process of ordering checks, and when it’s time to “preview” your order, you’ll have a customized check image that you can void. Instead of using forms, which require you to void a traditional check, try logging into your account (or ask if there’s an online system).
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. Many small or less formal organizations may allow you to provide the information from your checking account directly to them in lieu of sending documentation. They don’t need a voided check; it’s just a matter of convenience if you send one. If you can provide your bank name, routing number, and your personal account number over the phone, it’s often good enough.
If that check number is posted to your account, contact your bank right away. Finally, if you use duplicate checks, make sure your VOID marks are seen on the duplicate, too. Get your paycheck directly deposited into your bank account to save yourself some time and hassle.
Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our https://www.quick-bookkeeping.net/ content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Employers may not be the only entities you’ll have a direct deposit arrangement with.