Have you ever needed to provide an RBC void cheque to set up a direct deposit or to rent an apartment? I remember the first time I was asked to provide one and had no idea what it was.
Just last week, I had to provide a voided cheque to set up a new direct deposit. It got me thinking, do people still know how to get a void cheque, especially from RBC?
Well, fear not! In this article, I’ll share my experience with RBC void cheques, what they are, why you might need one, and how to download one easily. From downloading it online to alternative ways of obtaining it, I’ve got you covered.
So let’s dive into the world of RBC void cheques and make your banking life easier!
What is an RBC Void Cheque?
An RBC void cheque is a paper cheque from the Royal Bank of Canada with the word “VOID” written across to indicate that the cheque cannot be used for payment. This cheque is not meant to be used for payments or transactions but to provide important banking information.
Void cheques are typically used for direct deposit, setting up pre-authorized payments, or verifying your account information.
Before the advent of online banking, RBC customers would receive a physical chequebook, and void cheques were a common feature that provided an easy way to provide information while preventing unauthorised cheque use.
Why Do You Need an RBC Void Cheque?
An RBC void cheque can come in handy in a variety of situations. One of the main reasons to have a void cheque is for direct deposit payments.
Whether it’s your employer or the government, having your pay or benefits directly deposited into your bank account can be a convenient and efficient way to get paid.
Providing a void cheque to the organisation making the deposit ensures they have the correct banking information and can deposit the funds directly into your account.
Another reason to have an RBC void cheque is to set up pre-authorized payments. This could include monthly utility bills, mortgage payments, or insurance premiums.
By providing an RBC void cheque, you authorise the payment to be automatically deducted from your account regularly. This can help you stay on top of your bills and avoid late payments or fees.
How To Print an RBC Void Cheque Online
Instead of manually voiding a cheque by writing “VOID” across the front using a permanent marker or a dark pen (with blue or black ink). You can easily print an RBC void cheque from the RBC online banking by following these steps:
- Step 1: Sign in to RBC Online Banking
- Step 2: Click on “Account Services”
- Step 3: Select “View and Print Void Cheque”
- Step 4: Select the bank account for the void cheque
- Step 5: Agree to the terms and conditions rendered, and click “Next”
- Step 6: Click “View and Print” to access your void cheque”
How To Read an RBC Void Cheque
Cheques contain all your banking information, and recipients can use the numbers on the cheques to set up connections to your bank account for deposits and withdrawals.
An RBC void cheque (RBC sample cheque) contains the following details:
- Name and Address: Your name and address are printed on the cheque to indicate the bank account owner from which funds will be withdrawn. Always keep your address up-to-date as the company may need to contact you.
- Bank Branch Address: There is a section on the cheque for the bank’s physical location. Some companies use this when an issue needs them to send a correspondence letter.
- Beneficiary (Payee): This section usually contains the name of the individual or organisation receiving the payment. For a void/sample RBC cheque, this section is usually blank.
- Transit (Branch) Number: This is located at the bottom left-hand corner of the cheque. It is a five digits number that identifies the specific branch where the account was opened.
- Cheque Number: This three-digit number is usually used by the bank to identify the cheque transaction in your bank statement.
- Financial Institution Number: This three-digit number is also called the “Bank code”. It is located after the transit number. It identifies the bank independent of the transit number. RBC’s bank code is 003.
- Account Number: After the institution number is the account number. This 7-12 digit number identifies your account. RBC bank accounts usually have seven digits with two dashes between them. Combining the institution number and the transit numbers gives you the routing number.
RELATED: How to Read a Cheque in 8 Easy Steps
Alternative Ways To Order RBC Cheques
Ordering RBC cheques is easy, and the process can be completed online, over the phone, or in-person at a local RBC branch.
Some banking accounts offer free cheques when you sign up. The RBC Signature No Limit Banking and the RBC VIP Banking offer free cheques upon signing up for your account.
For other account holders, ordering additional cheques can be done through the “Account Services” section of Online Banking or by calling customer service.
The price you’ll pay for your cheques will depend on the style and quantity you choose, with more personalized or higher-end styles costing more.
Are Voided Cheques Risky?
In general, void cheques are not considered risky as long as they are properly voided.
The only risk associated with a void cheque is if you forget to write “VOID” across the top, which would allow someone to potentially fill out the Payee information and amount and use the cheque to withdraw money from your account.
However, this scenario is unlikely, and you can easily avoid it by double-checking that you have properly voided the cheque.
As long as you take the necessary precautions and follow proper procedures, void cheques can be a safe and convenient way to provide banking information to trusted companies and institutions.
Final Thoughts on RBC Void Cheques
Knowing how to write an RBC void cheque or print one is an essential financial skill that can save you time and hassle. As we’ve learned, a void cheque can be used for various financial transactions, such as direct deposit payments and account verification.
With RBC, the process is even more convenient, as you can easily print out your void cheque with just a few clicks. So, the next time you need to provide banking information, remember the usefulness of a void cheque.
Overall, RBC provides an excellent service for those who want to avoid the hassle of writing out a cheque and manually voiding it. With the ease of printing out a void cheque, you’ll have all the necessary information at your fingertips. So why not try it and see how it works for you?
FAQs on RBC Void Cheques
How Much Do RBC Cheques Cost?
RBC cheque pricing varies based on the number and style you choose. Select RBC premium accounts provide personalised cheques free of charge.
Can I get an RBC cheque over the counter?
The service of getting RBC cheques over the counter has been discontinued, and it is no longer possible to obtain a cheque at a branch. Previously, this service cost $2.
How do I get a specimen cheque from RBC?
An RBC void cheque can be easily printed from your online banking account with RBC.