voided check for direct deposit

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. You will need to know who it was for, how much it was for, and the check number. If you aren’t sure of any of this information or get it wrong, the check could still be cashed, and the only way to avoid financial loss would be to freeze the account. If you want to receive your Social Security benefits in a different account, the process of switching accounts can take anywhere between 30 and 60 days. If you decide to change banks, don’t close your old account until you see a successful Social Security direct deposit land in your new account.

A voided check is simply a check that you can no longer use to make a payment or withdraw money from your checking account. You may need to void a check for several reasons, including https://www.bookstime.com/ setting up online bill pay or direct deposit. You can ask your financial institution to send a letter providing all the same information to the party requesting your voided check.

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One of the advantages is your bank or credit union may send the letter directly to the party requesting the voided check, avoiding the need to send it by email. Employers may not be the only entities you’ll have a direct deposit arrangement with. Direct deposit will be the preferred way for those institutions to make payments and for you to receive them quickly. Determining your direct deposit status is as simple as logging into your online bank account to see if your money’s arrived. If there is a delay, you may have to check with your employer’s payroll department.

Voiding a check makes it useless for payment or for withdrawing money. That way, you’re helping protect yourself if someone else finds your check. Make a note of the checking number and make a physical copy of the voided check to keep for your records. 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.

What Is a Voided Check?

Employers often use voided checks to set up direct deposits for their payroll, and service providers may need them to set up direct debits. This is because a blank voided check check has all the information they need, such as routing or account numbers. Using a voided check reduces the likelihood of a transcription or other type of error.

This option lets you deposit recurring income (like paychecks) directly into your account. You may need a voided check to set up a bank account, direct deposit, or automatic bill payment. You may also decide to void a check if you filled it out wrong or completed a mobile deposit and want to prevent others from using it.

What is a Voided Check?

The employee will usually need to fill out a direct deposit form in addition to providing a voided check. While having to provide a voided check may seem like extra work, it can actually ensure the process of setting up a direct deposit goes a lot smoother. If you don’t have a voided check for direct deposit, you can visit your bank to get a counter check, set up direct deposit online, or print a copy of a preview check.

You’ll need your Social Security number, filing status and your exact refund amount. You can start checking the status of your refund as soon as 24 hours after submitting your return electronically. If you filed on paper, the return could take six months or more, according to IRS.gov.

As 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. Employers usually ask for a voided check as a simple way to collect your banking information for direct deposit. Voiding a check can be a key step in setting up financial transitions like regular payroll direct deposits.

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