Even with online and mobile banking, checks remain a frequently sought payment method by businesses and people alike. If you use a check, at some time or the other you would be required to void the check. If you want to read about how to void a check, follow the link to our other post. Here we will discuss the various reasons you would want to void a check.
Circumstances When to Void a Check
There are various circumstances when you might be required to void a check.
Mistakes are common in everyday life and checks are no exception. While writing the check you could misspell the name, the amount with an extra zero, or the date. Under such a circumstance, you will be required to void the check to prevent it from being misused.
- Automatic Bill Payments
The process of setting automatic bill payments might be intimidating at the bank and the first thing the bank requires is a voided check. It essential that you provide the bank with a void check to set up automatic bill payments.
- Deposits from Employer
If you have joined new employment, among the documents that the employer requires is a void check. This helps them in setting up your payments.
Although there are various circumstances when you may require a void check, these three are the top ones.