what is void cheque

what is void cheque

1 year ago 32
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A void cheque is a cheque with the word "VOID" written across it in large letters, which renders it invalid and prevents anyone from filling it out and using it to make a payment. Voiding a cheque is important to prevent others from making withdrawals on your account, and it is typically used to get information needed for electronic payments because it includes details such as your routing number, account number, and check number. A voided cheque may be necessary to set up direct deposits, automated clearing house (ACH) transfers, or electronic bill payments. You may be asked to provide a void cheque when setting up a payroll deposit or automatic payments, and it can be used to set up an electronic link to your bank account. Voiding the cheque ensures that you arent sending out a "blank cheque" that criminals could fill in and use to withdraw money from your account. 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 cheque.

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