The Right Way to Void a Check
We’ve all made little blunders when it comes to writing checks from our checking account. Sometimes, you get the amount wrong. Or maybe you accidentally wrote the check to the wrong person. And, unfortunately, sometimes you simply lose a check and need to replace it. Whatever the reason, you now find yourself faced with the task of voiding a check.
Ok, that sounds way more serious than it has to be. For the most part, voiding a check can be as simple as noting the voided check’s number in your check register as no longer valid and destroying the check. If you simply made a mistake while writing the check out, you don’t have to worry that it has fallen into the wrong hands. You’ve had custody of the check all along. Just pass it through your shredder and be done with it.
Some people prefer to keep their voided checks. Although it’s not necessary, that inclination can certainly be understood. If you decide you’d rather keep the voided check, you will need to take extra care to mark the check as voided. You can write the word “VOID” in all of the appropriate places such as the signature line, amount box, the entire face of the check, and the back. You must be careful if you choose to keep your voided checks to make sure they are kept in a secure location.
Checks that have been misplaced, however, have to be handled in an entirely different manner. In this instance your check is floating around in the world somewhere, and you’re not sure when, or if, it will turn up. You’ll have to involve someone else to properly void this check. Your safest bet is to have your bank issue a “Stop Payment Order” on this check. For a fee, your bank will ensure that they check isn’t paid if it is presented by anyone. Bear in mind, though, that a stop payment order is only effective for six months. If you’re still uncertain about the whereabouts of your check at the end of that time, you’ll need to ask the bank to issue a new order.
Filed under: Money Management
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