How to cancel check – Avoid fraud and unauthorized withdrawal
A check is physical, legal contract that effectively represents a promissory note to pay the amount indicated in numerical and written values to the nominee to the nominee. Your signature authorizes the indicated amount to withdraw from your bank account and is transferred to the depositor’s account where the check was submitted for the deposit.
A direct check for a direct debit or a wired check may be requested by the employer for the creditor. Organizations require information on the check, but this does not result in actual payment. A check may also be called for errors in dates, payer information or sums. Such errors are given to banks, and a new test is written to avoid the “editing” that raises the concerns. Checks are weak for cheating because “donor” (you – the account holder) does not need to deposit checks in his account for another person. Therefore, keeping an eye on your checkbook location and an accurate list of checks are important.
When making a check, follow these steps:
- Use a black or blue pen – pencils, or anything can be erased
- Type VOID in large, clear letters on the PEEE line
- Type VOID in large, plain letters in the payment AMOUNT box
- Type VOID in large, clear letters on signature line
- Record record and rotated in your check register or offline
- If you have to send a wired check to set up direct deposit or debit, make a copy for your records.
- Online check – Use your options in banking service access to cancel check number
** Note that if a payer has already been given the check, the only way to cancel it is to contact your financial institution and request a stop payment for the fee.
Including non-utilitarian representation of a legal contract through a check is included. It is important to check the correctness to avoid fraud and recover unauthorized withdrawal from your checking account.
By Dennis Vargin
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