The fastest, most convenient way to manage your everyday financial transactions. Your payor may ask you to complete their own form in order to process your request. Lauren is a personal finance writer who strives to equip readers with the knowledge to achieve their financial objectives.
- That said, voided checks contain all of the information needed to set up a direct deposit, which is why they are helpful.
- A letter on bank letterhead with your account information could work.
- You don’t have to think about the extra money or manually move it to the account.
- 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.
- According to the IRS, the fastest way to receive a tax refund is by filing electronically and opting for direct deposit.
- This makes it easier to remember that the check was voided and isn’t a check that needs to be cleared on the account.
- Another option is to ask a teller at your bank for documentation that provides the same information as a voided check.
However, don’t make it too large that it covers up your routing and account information at the bottom of the check. Most checks are good for six months, but banks might still cash checks that are past this expiration date. Some checks might explicitly state a different period, such as three months or a year. Note that some banks may charge a fee to issue a stop payment on a check. By writing “VOID” on the check, you’ll prevent anyone from filling out the check and cashing it. Fortunately, voiding a check is a simple and straightforward task.
Paychecks deposited into someone else’s account
While our articles may include or feature select companies, vendors, and products, our approach to compiling such is equitable and unbiased. The content that we create is free and independently-sourced, devoid of any paid-for promotion. Combine that feature with savings plans like 401(k)s that come right out of your paycheck, and you can automate almost all of your required savings. Making sure you don’t overspend and leave nothing left in your account has never been easier. If you want to save $100 a month to take a vacation, set up a new account for vacation savings.
But unless you’re voiding a filled-out check, make sure you don’t cover up the routing or account number on the check—those are important. If you are still receiving paper checks as payment, there are a number of reasons to consider making direct deposit your payment method of choice. An employer starts by collecting the banking information—including https://www.bookstime.com/ bank account number and bank routing number—of its employees and vendors. This is part of the information that your employer likely gathered from you during your onboarding process after you were hired. If you already have a checking account but no checks, you can contact your bank or credit union about ordering checks.
What is an example of a voided check?
Once you’ve voided a check and shared it with your employer or another business, make sure that you set up a budget to keep track of your income and expenses. You can use copies or pictures of the same voided check for multiple situations. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
They are usually found at the back of your checkbook or at a bank. You may wonder what the difference between a voided voided check and a canceled check is. When you make a void check, you are canceling a physical check you have in your possession.
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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.
Don’t cover up the routing or bank account number at the bottom of the check when voiding it. Those numbers are necessary for identifying your bank account to send or receive payments. Employers ask for a voided check when setting up your direct deposit because it provides all the information necessary to deposit money in your checking account.