When it comes to managing your finances, keeping track of your checks is essential. But what about voided checks? Are they worth keeping, or should you shred them?
What is a voided check?
A voided check is a check that has been canceled before it was cashed. This can happen for a variety of reasons, such as:
- You made a mistake on the check.
- You changed your mind about the payment.
- The check was lost or stolen.
Should you keep voided checks?
Whether or not you should keep voided checks depends on a few factors, including:
- Your bank’s policy. Some banks require customers to keep voided checks for a certain period of time.
- Your personal preferences. Some people prefer to keep voided checks as a record of their financial transactions.
- The risk of fraud. Keeping voided checks can help protect you from fraud, as they can be used to verify your identity if your checkbook is lost or stolen.
How long should you keep voided checks?
If you decide to keep voided checks, it’s important to store them in a safe place. You should also keep them for at least seven years, as this is the statute of limitations for most financial claims.
What should you do with voided checks?
Once you’ve decided how long you want to keep voided checks, you need to decide what to do with them. You can:
- Shred them. This is the most secure way to dispose of voided checks, as it prevents them from falling into the wrong hands.
- File them. You can file voided checks in a safe place, such as a fireproof safe.
- Scan them. You can scan voided checks and store them on your computer or in the cloud. This is a good option if you want to keep a digital record of your checks.
Whether or not you keep voided checks is a personal decision. However, it’s important to weigh the pros and cons before making a decision. If you do decide to keep voided checks, be sure to store them in a safe place and dispose of them properly when you’re finished with them.
Additional tips
- If you’re concerned about fraud, you can ask your bank to add a positive pay feature to your account. This will help prevent unauthorized checks from being cashed.
- You can also sign up for a check monitoring service. This service will notify you if any of your checks are cashed without your authorization.
- If you’re ever the victim of check fraud, be sure to report it to your bank and the police immediately.
How To Void a Check
FAQ
How long do you need to keep voided checks?
Should I save voided checks?
Should I shred voided checks?
Can you throw away a voided check?
How long should you keep a bank check?
Keep the check until you’ve made sure the deposit has gone through — which may take several days — and that the bank doesn’t need the original check for any reason. Once the check has been cleared in your account, it’s best to shred it.
How long are business checks good for?
Business checks often include a note that reads, “Void after 90 days.” This encourages the recipient to cash the check right away—even if the 90-day deadline isn’t real. Like personal checks, business checks are usually good for six months, unless the check clearly states it’s valid for up to one year.
Should you write ‘void’ on a check?
However, it’s generally not recommended for documents you want others to have easy access to, like your will or final wishes. Dixon also notes voided checks, in particular, need to be voided and stored properly. “You should have ‘VOID’ written out across the entire check and with a red marker if possible,” says Dixon.
What happens if you void a check?
The most common situation is if you make a mistake filling out a check. Just write “VOID” in big dark letters across the front, and it’s nullified and invalid for financial purposes. Voided checks are also frequently requested when setting up recurring financial transactions because they contain all of your banking information.