How to Set Up Direct Deposit Without a Voided Check

You don’t want some hacker buying 20 Jet Skis with your bank info because you trusted a fishy URL. To void a check to provide your employer to set up direct deposit, take a blank check and write “VOID” in large letters across the entire check. Be certain that you don’t cover the routing or the account numbers, which your employer will use to make sure your paycheck goes to the right account. Make a copy of the check to send to your employer, and keep the original for your own records. One of the most common uses for a voided cheque is to provide up direct payroll deposits with an employer.

• If the latter, make sure the VOID marking covers the check number, amount and recipient.
• The supplier wants to be sure that the charge will be made to the correct account and holder.
• This is why employers ask for a voided check to set up direct deposit, not a blank one.
• House and Senate committees report the voided check as a negative entry on Form 3, using the same line that was used to report the original disbursement.
• Whether you’re voiding checks because you’re afraid of overdrafts, you’re juggling debt, or you’re setting up direct deposit at a new job (congrats on that one!)—you’re going to need a budget.
• A voided check is a valid paper bank check that you render unusable and uncashable.
• Check with your employer’s payroll department to determine if this is an option.

There are several situations in which a voided check might be used. The most obvious one is when a mistake has been made when writing a check, such as stating the wrong payee or amount to be paid.

Why would I need to void a check?

You can easily keep this information in the check registry of your checkbook. Basically, voiding a check you already sent is like bouncing your check preemptively. However, fees for canceling a check payment are still going to apply.

You may want to dispose of a voided check, in lieu of holding onto it, for several reasons. That might make it seem useless, but in fact a voided check has a specific purpose, which is to make it easier for you to share your banking information with someone else. voided check A voided check is simply a check that can no longer be used to make a payment or withdraw money from your checking account. A voided check has the word “VOID” written across the front of it. But you can contact your bank to have a stop payment placed on it.

Your account statements

It’s typically written in large letters so there’s no chance of it accidentally being used. 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. We believe by providing tools and education we can help people optimize their finances to regain control of their future.

• The privacy practices of those third parties may differ from those of Chime.
• Knowing the right method to void a check, as well as the security steps to protect yourself, can help make payment — both as a recipient and as a payee — more efficient.
• They can also typically be used to receive direct deposits and make automated payments.
• In theory, you should be able to just provide a routing number and account number to your payroll department.
• Often, when you try to set up direct deposit, your employer will ask for a voided check.

The most purpose in pretty much every case is to provide critical banking information to an individual or an organization so they can establish a direct link to that account. An overdraft drops your bank account balance below zero and can result in fees and interest. Overdraft protection prevents a non-sufficient funds fee. To void a cheque, you simply need to write the word “VOID” in ink in large capital letters across the front, without covering the numbers at the bottom of the check. It’s a good idea not to sign the cheque to safeguard it from being misused. Another reason to void a cheque is when you’ve entered the wrong information on it — such as an incorrect date or dollar amount — while trying to make a payment.

Some Helpful Links About Voiding Checks from Different Banks

We’ll break down the simple instructions for voiding a check properly in a moment. So you wrote a check and gave it or sent it, but now you need to cancel it. This is because it is an easy and convenient way https://www.bookstime.com/ for the employer to have access to your bank information without requiring you to make a money transfer. The only way to give yourself peace of mind is to void the check and then throw it out or shred it.

If you don’t have your checkbook readily available when requested, here are some alternatives you can provide that will have the same information as a check. Of course, the offers 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. Compensation may factor into how and where products appear on our platform . But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That’s why we provide features like your Approval Odds and savings estimates. First, you might want to void a check if you make a mistake while writing it. This may include writing down the wrong amount or making it out to the wrong person.

Alternatives to a Voided Check

Direct deposit is incredibly convenient, once you have it set up. You won’t have to worry about losing a check or wasting time cashing it or depositing it. Instead, just go about your life as money constantly arrives in your checking account.

In other cases, though, you’ll have to fill out some paperwork and provide a voided check, which contains your bank’s routing number and your account number on it. Mobile banking, paper checks aren’t as common as they once were. However, they are still in use, so it’s important to know how to properly fill them out, use them, and get rid of them. If you decide to use a check, make sure you know the right way to void it to ensure you, and your money, are safe. If you don’t have a voided check, there are other ways you may be able to set up direct deposit. This means you can snap a picture of your paper check and deposit it into your account, right from your phone.

Brokerage Services

To get a voided check you’ll need to talk to your bank and get them to send you a checkbook. Some banks and credit unions will automatically send you a book of checks when you first open an account with them.

Check with the merchant you want to pay or the lender to whom you make loan payments, to see if they have online options for enrolling in automatic bill payment. Firstrepublic.com provides information to clients about their accounts and financial services by First Republic Bank and its affiliates. Consider keeping a photocopy in your records if you believe you’ll need it for future reference. By voiding a check, it can no longer be used as payment or to withdraw money. That way, you’re helping protect yourself if your check falls into the wrong hands.