Have you ever been asked to submit a void cheque to set up a direct deposit? Or are you being asked for the first time and wanting to figure it out so you don’t look like a fool in front of the payroll department?
All major banks will be able to help you get a void cheque. For instance, it’s very easy to get a CIBC void cheque. You can do this either using an old-school paper cheque, or by getting your CIBC void cheque online using the CIBC direct deposit form.
Here’s a quick guide that explains everything you need to know about getting a void cheque through CIBC. It’s easy, and won’t take you more than 5 minutes.
How to get a CIBC void cheque
The easiest way to get a void cheque through CIBC is if you were given a chequebook. From here, you can get a dark-coloured pen and write “VOID” across it. Of course, don’t cover up any of the bottom numbers or your name.
Now, the thing is, cheques are not always free. Sometimes they are, depending on what kind of chequing account you have, but for some of us, it’s not worth paying for something you’d never use, especially if we can get Interac e-Transfers done for free.
If you’re with CIBC and have access to a CIBC Smart Plus account, you can get personalized cheques for free. You’ll also be able to get other perks like:
- unlimited transactions and unlimited Interac e-Transfers,
- no CIBC fees for ATM withdrawals, and
- one CIBC credit card with an annual fee rebate for you and up to 3 authorized users.
CIBC direct deposit form – an easy way to get a CIBC void cheque online
There’s an easy alternative to a paper cheque – getting a CIBC void cheque online. Or rather, getting the information from a void cheque online.
It’s called a CIBC direct deposit form. If you have CIBC Online Banking, you can easily request this form, which of course, is free.
Here’s how to access your CIBC direct deposit form:
- Sign into your CIBC Online Banking account.
- Under “Manage My Account”, select “Void cheque/direct deposit info”.
- Save the form and sign it.
Now you can send this to your employer or whoever needs it.
How to get a void cheque from the CIBC App
You can also get the same information from your CIBC Mobile Banking App.
Once you’re signed into the CIBC app, you can select the account that you want your money deposited into. Then, under “Account Info”, you will be able to access the 3 things needed for a direct deposit.
Keep in mind that your employer may want a proper form filled out. You can find more information about this and the getting a void cheque from the CIBC App here.
How to read a CIBC cheque
Now that you have your CIBC cheque, you may be wondering why your company (or mortgage, or loan, etc.) wants your CIBC void cheque.
What your company needs (and what’s needed for you to get paid) are the weird little numbers on the bottom in the 1980’s hacker font.
What the numbers mean at the bottom of your CIBC cheque
These numbers represent your financial information and show where the money moves. Don't worry, no one can take these numbers and steal your hard-earned savings. Having a void cheque is essentially like having a sample cheque that can't be cashed.
- The transit number – this refers to the bank branch where you opened your account. The address should be listed next to the CIBC logo.
- Financial institution number – this identifies the bank (CIBC). In this case, it’s 010. For a BMO cheque for example, it would be 001.
- Account number – this is pretty self-explanatory. For CIBC, your account number is 7 digits long.
Ready to get your own CIBC void cheque?
That’s it! That’s all there is to know about CIBC void cheques. Now that you know how to get a void cheque from CIBC, you’re ready for some sweet cash from your direct deposit.
Have questions on getting void cheques? Have any experiences or stories you want to tell? Let us know in the comments below.
FAQ
What is a void cheque?
A void cheque is a cheque that's been marked in such a way that it's not usable by anyone to cash in any of your money. This is in contrast to sending a blank cheque, which thieves can use to withdraw money from your bank account. Common usages for void cheques include setting up direct deposit for your payroll and setting up recurring bill/rent payments.
How do I get a void cheque from CIBC?
If you were issued a chequebook from CIBC, you can simply write VOID on it and submit it to your employer, landlord, or whoever is asking for it.
What do the numbers at the bottom of my cheque mean?
The numbers at the bottom of a CIBC cheque represent 3 things: the branch you opened your account with, the financial institution that your account belongs to, and your account number. This allows the person receiving the cheque to send or receive money to the correct account (yours!).
Is there a way to get a CIBC void cheque online?
Yes, you can download a CIBC direct deposit form online, which functions in the same way as having a physical void cheque. You can either send one that you’ve signed using your computer, or print it out, giving you an option to essentially print a void cheque from CIBC.
Can I get a void cheque from the CIBC App?
You can get the same information as a void cheque, but your employer may need a proper form filled out in a similar fashion to the CIBC direct deposit form.
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