CIBC Void Cheque – How To Get a Void Check with CIBC Online

Void cheques are an essential part of modern banking. Whether you’re setting up direct deposits or automated bill payments, these cheques come in handy. For those banking with CIBC, there are specific steps and considerations to be aware of. Let’s delve into the intricacies of obtaining and understanding CIBC void cheques.

Void Cheques: What Are They?

A void cheque is like any other cheque from your chequebook but with one crucial difference: it has the word “VOID” written across it in bold. This marking ensures that nobody can use the cheque to withdraw money. However, the cheque still carries your essential banking details, making it a secure way to share account information without the risk of unauthorized transactions.

CIBC’s Approach to Void Cheques

If you have a chequebook from CIBC, creating a void cheque is straightforward. Grab a pen, preferably dark-coloured, and write “VOID” on the cheque. However, be careful not to obscure the vital numbers at the bottom or your name.

While cheques can sometimes be an additional expense, CIBC offers some account types, like the CIBC Smart Plus account, that come with perks such as:

  • Free personalized cheques
  • Unlimited transactions and Interac e-Transfers
  • No CIBC ATM withdrawal fees
  • Annual fee rebate on a CIBC card of your choice, for you and up to three authorized users

Digital Alternatives: The CIBC Direct Deposit Form

For those who prefer online solutions or don’t want to wait for a physical chequebook, CIBC provides an online void cheque alternative. This is called the CIBC direct deposit form, and it’s free for online banking users. Here’s how you can get it:

  1. Log into your CIBC Online Banking.
  2. Navigate to “Manage My Account” and choose “Void cheque/direct deposit info.”
  3. Download, save, and sign the cheque if necessary.
  4. Forward the form to your employer or other concerned party.

Using the CIBC App to Get Void Cheque Information

CIBC’s mobile app also offers a way to access void cheque information. Follow these steps:

  1. Open the CIBC app and log in.
  2. Choose the account you want to use.
  3. Under “Account Info,” find the required details for a direct deposit.
  4. While this provides all the necessary information, always check if the recipient requires a specific form or format.

Decoding a CIBC Cheque

If you’re wondering why certain entities request a void cheque, it’s all about those unique numbers at the bottom of the cheque. Here’s a breakdown:

  • Transit Number: This number indicates the specific CIBC branch where you opened your account. It’s typically next to the CIBC logo. This transit number is specific to the branch that your account is associated with, and is critical because it identifies your account routing.
  • Financial Institution Number (010 for CIBC): This number identifies the bank. The CIBC financial institution number is 010. If it asks for only 2 digits, you can use 10, but typically it will ask for 3-digits and you should input 010.
  • Account Number: A straightforward number, it’s your personal 7-digit account number with CIBC.

Frequently Asked Questions (FAQs)

1. Why do I need a void cheque?
Void cheques are a safe way to provide your banking details for transactions like direct deposits and automated bill payments, without the risk of unauthorized withdrawals.

2. How can I create a CIBC void cheque?
If you have a CIBC chequebook, write “VOID” across a cheque, ensuring not to cover essential details.

3. What’s the significance of the numbers at the bottom of my CIBC cheque?
They represent your specific branch, CIBC as the financial institution, and your personal account number. This trio ensures money is directed accurately.

4. Can I get my void cheque details online with CIBC?
Absolutely! CIBC offers a direct deposit form online that serves the same purpose as a physical void cheque.

5. Is the CIBC app useful for obtaining void cheque details?
Yes, the app provides all necessary details, but always check if the recipient has a specific format requirement.

6. Are there fees associated with getting a CIBC chequebook?
While some accounts, like the CIBC Smart Plus, offer free cheques, others might charge. It’s best to check with the bank or review your account details.

7. Can I use a void cheque for any bank transaction?
Yes, a CIBC void cheque can be used for any transaction that needs your banking details, regardless of the requesting institution.

8. How secure is it to send a direct deposit form via email?
Always ensure you’re sending sensitive information to the correct recipient. Consider using secure email or document-sharing methods for added safety.

9. I misplaced my chequebook. What should I do?
Immediately inform CIBC to take necessary precautions and ensure your account’s safety.

About The Author

Jack Prenter is the founder of DollarWise. With an extensive professional background in private equity and insurance, he's the Head of Partnerships at Nexus Mutual and previously led their investment committee. He studied Economics at the University of Nottingham. Jack is now based in Toronto, Ontario.