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A cheque allows a bank to pay a specific amount to any organization or individual. However, nowadays, cheques have lost their importance due to the development of electronic alternatives. But you might need a cheque sometime when e-transfer is not a viable option. Therefore, you will have to understand how to use it to make the process safe. We will discuss the Laurentian Bank Void Cheque in the following. We will cover how to use it, read it, and get it. Keep reading if you want to know more about the Laurentian Bank Void Cheque.
What Is a Sample Cheque?
A sample cheque is a paper cheque, but it will look different. Yes, it will come with a sample word on it. That means you cannot use that cheque to withdraw money. But you can use it to get all the information. Yes, it is a document that provides essential banking information. People use sample cheques to share their banking information with someone.
What Is a Void Cheque?
A sample cheque is a void or specimen cheque. You will need this cheque while setting direct deposits to a bank. Also, you can consider using this for pre-authorized debits, including childcare, rent, or loan repayments.
As it will have all your bank details, the receiver can use the banking information to connect with your bank account. The data will help to make withdrawals and deposits. If you want to create a void cheque, you can write Void across the cheque front with a dark pen. With this simple step, you can make void cheques for your use.
What Are Void Cheques Used for?
You can use a void cheque for setting up an electronic link with your bank account. People mostly use it while preparing pre-authorized debit agreements. Here are some usages of the void cheque you can go through.
Insurance payment deposits
Loan payment withdrawals
Set up direct deposits
Rent Payment withdrawals
Mortgage payment withdrawals
In brief, you can use a void cheque whenever you want to share your banking information. As it is a void cheque, no one can use it to withdraw money from your account.
How Do I Void a Cheque?
You will have to write VOID across the cheque using a dark pen to make it void. You can use a blue or black pen. You can use a permanent marker as well. Also, you will have to avoid covering any number in the lower left of your cheque. If you write on those numbers, the recipients cannot get all the required banking information. The bottom left side of the cheque will contain the banking information that your recipient will need to set up the link to your account.
How Do I Write a Meridian Void Cheque?
You will have to follow a few steps to write a Meridian void cheque. You will find the process the same as other leading Canadian banks.
Cheque Date: You will find it in the top right corner and you will have to write it in YYYY-MM-DD format. However, if you do not have the desired amount in your account, you can postdate your cheque.
Payee: You will find a Pay to the order of line and you will have to write the payee name with correct spelling. Also, you will have the option to pull any funds for yourself. You can write myself, bearer, or cash.
Write the Amount: You will have to write the amount in the number form. You can write “125.50” for $125 and 50 cents.
Write the Amount in Words: Write in the appropriate field under the Payee’s name. You can write the amount in words to avoid any confusion.
Signature: After entering all the details, you need to sign the cheque in the bottom right corner. Otherwise, your cheque will be invalid.
Memo: Fill the memo area with the reason for payment. You can write Rent Payment for April.
How Do I Read Meridian Void Cheque Information?
The cheque will have all the essential banking information. You can find a lot of banking data. Here are the details you can get from a Meridian void cheque.
Home Address: You will find the home address on a sample cheque. You might want to share your home address while giving your bank details to someone.
Bank Branch Address: The sample cheque will have the branch address of your Meridian bank. Yes, it will have the address of the Meridian branch where you have opened your account. The branch can resolve many banking issues.
Transit Number: The cheque will also include the 5-digit transit number of the branch. The number will help to identify the branch.
Institution Number: The cheque will have the institution number. It is a 3-digit number that will identify your financial institution regardless of your specific branch. The institution number of Meridian is 837.
Account Number: The cheque will also include your account number or folio number. The account number will identify your account. However, you cannot use your account number to transfer any amount without using the institution number and transit number. Your account number is sensitive information. Therefore, you will have to be careful while sharing your sample cheque with anyone. The strength of the account number will vary based on the branch. However, the account numbers of Meridian are mostly seven digits.
Additionally, you can get your routing number. You can combine the transit number and the institution number of the Meridian and then add a zero; you will get the routing number.
You will have all these banking details on your cheques. Therefore, you will have to take extra caution while sharing a cheque with anyone.
How Do I Get a Specimen Cheque from Meridian?
As mentioned above, a sample cheque is also a void cheque. You will have to write SAMPLE on sample cheques and VOID on void cheques. You can make a cheque void by writing VOID across the cheque. However, cheques are expensive, and you can use sample Meridian cheques instead of cheques. You can get sample cheques via online banking. You will have to follow a few steps to download Meridian sample cheques with a few clicks. You can download sample cheques in PDF format. First, you will have to log into the online portal of Meridian. Here are step-by-step instructions for your help.
Using Online Banking:
Log in to your Meridian account using their online portal.
Go to “Accounts” and pick the account you want a direct deposit form for.
Click on “CRA Direct Deposit” in the right-hand menu and choose “Deposit Form.”
A PDF of the direct deposit form will open; you can download and print it if needed.
After completing this, a PDF file containing the sample cheque will appear in your browser. Please proceed to download it.
It is noteworthy that Meridian sample cheques will include all the essential information that you will find on your cheque. It will have the institution number, branch number, transit number, and account number.
Once you have the copy, you can share it with anyone who wants to set up a pre-authorized debit or direct deposit from or to your bank account.
Can I Get Free Cheques from Meridian?
Yes, you can get free cheques from Meridian. Some banks offer discounted or free cheques. However, you will have to review the terms and conditions. There might be monthly maintenance fees and other charges. Therefore, you will have to ensure that you have gone through extra charges before considering free cheques.
How Much Do Meridian Cheques Cost?
Prices will vary, and you will have to know the exact amount while placing the order. When it comes to certified cheques, you will have to pay $15 for the member and $20 for the beneficiary. You can talk to customer support to know the exact amount you will have to pay while ordering cheques.
How Do I Print a Specimen Cheque from Meridian?
As mentioned earlier, you can get Meridian cheques for free. You can order online, and you can print the cheques. However, you will have to meet some requirements. You can follow the above steps to save, download, and print your cheques.
Can I Get a Meridian Cheque Over the Counter?
The bank will send cheques to you. You will have to wait to receive cheques after placing the order. However, you can order cheques via online banking. You will find it easy, fast, and secure. First, log in to your account and select the account options. Now, you will have to choose Account Services and select Order cheques. You can download sample cheques as well.
Now you have an idea about Meridian’s sample cheques. You can download, save, or print your void cheques. If you need it immediately, you can write VOID on your cheque. If you do so, no one can use your cheque for transactions.
