Knowing how to void a blank check is useful whether you need to set up auto-pay on a loan or want to start receiving your paycheck via direct deposit. Voided checks allow you to protect your funds from unauthorized use while also providing your pertinent financial information. You may need to void a blank check https://www.bookstime.com/ for multiple reasons, not just to set up direct deposit for your paycheck. Whether you’re able to stop a check payment depends on when it was written and whether the payment has already been processed. And depending on your banking institution, there may be fees involved with stopping payment on a check.
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What if you don’t have checks?
Voiding the cheque ensures that you aren’t sending out a “blank cheque” that criminals could fill in and use to withdraw money from your account. Voiding a check is easy but you should exercise some care if you need to void a check. Write VOID across the front of the check, but take care not to write over the numbers printed at the bottom of the check.
If you’re the one making the payments, you may need a voided check from the other party to connect the accounts. If the other person is making the payments, he or she will need a voided check from you for the same purpose. Even though fewer consumers make payments by check, voided checks remain important. That’s why it’s good to know how they work, even if you don’t frequently pay by check, so you remain protected when you use them. Ultimately, voided checks can come in handy in many situations.
Recurring Payments
This is meant to make the check unusable for financial transactions while still displaying account details. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
