A voided check may be perforated with a "Void" stamp, or crossed out, or have "Void" written across it, be shredded, or simply be stored in a voided checks file. It is best to permanently deface or destroy a voided check, so that no one can present it to a bank at a later date and expect to be paid for it.
They also display your contact information and may include your Social Security number. If your bank still sends you copies of voided checks, you must dispose of them properly. Otherwise, you could make yourself vulnerable to identify theft if you simply throw them in the trash.
You can also take a photo or scan the check so you can use the same check for if you need a voided check in the future. Be aware that you can void a blank check or you can void a check that you've already filled out. However, once voided, the check can't be used.
The person receiving your voided check can use that information to set up an electronic transaction for your account. You might use a voided check to: Authorize your employer to direct deposit your salary or wages. Authorize your employer to direct deposit your expense reimbursements.
In the same vein, if the check you've made a mistake on is voided and someone comes across it, they can't use it to fraudulently withdraw money from your account. Luckily, voiding a check is easy. Here is everything you need to know to void your first check.
If they simply toss the check into the garbage without shredding it, it could be very easy for a criminal to dig it out and steal your account number, routing number and personal information.
Banks don't have to accept checks that are more than 6 months (180 days) old. That's according to the Uniform Commercial Code (UCC), a set of laws governing commercial exchanges, including checks.
Personal, business, and payroll checks are good for 6 months (180 days). Some businesses have “void after 90 days” pre-printed on their checks. Most banks will honor those checks for up to 180 days and the pre-printed language is meant to encourage people to deposit or cash a check sooner than later.
Most employers will ask for a voided check to set up your direct deposit in addition to filling out a form. They ask for this because a check has all the information your employer needs to help ensure your paycheck is deposited in your account.
If you want to get rid of a voided check, the safest method is to shred it. If you don't have a paper shredder, you can use scissors to cut up the check. Make sure you cut directly through your name, account number, signature, and other important details.
While many banks have moved to digital formats for canceled checks, if you have physical copies or reprints from your bank, shred them. They contain a lot of personally identifiable information that could put you at risk. Stop those canceled checks from posing a risk by having them shredded.
Old checks and checkbooks should be destroyed before they're discarded, to protect against fraud. Financial documents such as old checks aren't like other paper waste, which can simply be dropped in your trash or recycling bin once they've served their purpose.
Send the Check or Image
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.
To void a check, you'd have to cancel it before the recipient had deposited it. But this isn't the same as a canceled check. A canceled check is one that the bank has already cleared. It means that the check can no longer be used after it has been cashed or deposited.
If you deposit a canceled check into your bank account, the funds will be removed once the bank realizes the mistake and you may face processing fees, and you may even face legal consequences.
Blank checks do not expire, but there could still be the reason that an old blank check may not be able to be cashed. There are a few different types of checks that you may be talking about. A blank check with nothing on it that is part of your bank checkbook is likely going to last for many years.
Usually your monthly statement will include the check number, amount, and date of payment for each check you wrote. State laws also generally require banks and credit unions to keep a copy of all checks for seven years.
The six-month rule applies to checks that have an expiration date, too. However, some banks and credit unions may agree to process the payment, states Cornell Law School. A two-year-old check could be approved, rejected or held until the bank gets in touch with the payer.
Checks don't expire and the funds must be turned over to the state, if they are not claimed. Unclaimed wages, commissions and ordered refunds must be turned over to the state after one year.
Check the date on the front of the check.
If the date on the check is more than 180 days old, the check is stale.
Go to your local bank or credit union. Take your check to a friend or family member's bank or credit union. Go to the bank or credit union that issued the check to cash it. Go to any bank or credit union to cash a check.
Crooks exploit the fact that banks must make funds from a check deposit available to the account holder within days but can take far longer to discover that the check is phony — sometime weeks, according to the Federal Trade Commission (FTC).
Generally speaking, a thief will need more than just your check routing number to gain access to your checking account. However, the odds of theft increase when the perpetrator has access to your routing number and checking account number.
Then, days or weeks later, the check will bounce leaving the victim responsible for losses and returned check fees. Scammers know the simple fact, if they can trick you into depositing into your account, you will be responsible for the loss and theft of your money.