How to Set Up Direct Deposit with Your Employer

So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank, N.A. Or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Chime Visa® Credit Builder Card and the Chime Visa® Cash Rewards Card are issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. A voided check still shows information about you and your bank account. It will likely have your name, address, bank name, account number, and routing number.

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• If a merchant wants to turn your paper check into an EFT, the merchant should give you notice that your payment will be processed that way.
• If you don’t have a paper shredder, you can use scissors to cut up the check.
• If you wish to dispose of the check, be sure to remove/tear this information from the check beforehand, as it could be used for identity theft or fraud.

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Voided Check

Put simply, direct deposit makes your life easier on payday. You don’t have to pick up a check from your employer, you don’t have to physically deposit the check at your bank and you’ll have more time in your day to do other things. Boiled down even more, most employers just need your personal information, your bank information and how much money you’d like to send to each account . The forms and other requirements such as a voided check are just there to help make the process easier and more secure for you.

This information can be used to set up the account for salary payment or mortgage or EMI payment. You want to get direct deposits from the organization which is faster electronically way. But for that, you may need to provide banking information to the organization such as bank account number. By voiding a check, you can provide the information to the organization.

Alternatives to a Voided Check

A voided check cannot be used to cash out or deposit the money. Thus it feels like a useless check but it is a very important document for passing the banking information to another party. While providing the banking information to someone one should voided check keep in mind that the check should not be used as a blank check by someone. Rather the person who is receiving the check can fill out the banking information which is provided in voided check to transfer the fund into the check writer account.