In the world of banking, there are many tools and terms to get familiar with. One of those tools is the humble void cheque. If you’ve ever started a new job or set up automatic payments, you’ve likely encountered one. And if you’re banking with Tangerine or have a Tangerine card, there are some specifics you should know. Let’s take a closer look.
Void Cheques: The Basics
First things first, what’s a void cheque? Imagine a regular cheque from your chequebook. Now, picture the word “VOID” written in big, bold letters across it. That’s a void cheque. It can’t be used like a regular cheque to pay someone. Instead, it’s a way to share your bank account details without risking someone taking money out.
Why do people need it? When companies want to deposit money into your account (like your salary) or take money out (like a gym membership fee), they need to know where to send or take the money from. A void cheque provides that information safely.
Tangerine: Not Just Another Bank
Tangerine has made a name for itself with some cool offerings. Besides being known for its standout credit card options (like the one where you can pick where you earn the most cashback), Tangerine also offers easy-to-use banking tools. One of those tools is their easy-to-get void cheques.
How to Get Your Hands on a Tangerine Void Cheque
Physical Tangerine Void Cheque
- Free Cheques for Tangerine Users: If you’re banking with Tangerine, there’s good news. Every chequing account holder can order a set of cheques at no cost. Here’s how:
- Go to the Tangerine website and log in.
- Find the section for your chequing account.
- There should be an option saying “Order Cheques.” Click on it.
- Follow the steps, and in about two weeks, a book of cheques should arrive in your mailbox.
- What if I Run Out?: The first set of 50 cheques from Tangerine’s No Fee Daily Chequing Account is free. But if you use them all up and need more, you can order another set. Just keep in mind, this next book will cost you $20.
Online Tangerine Void Cheque
Sometimes, you might not want to wait two weeks. Or maybe you just prefer doing things online. Tangerine has got you covered. They offer a digital version of their void cheque, and getting it is quick:
- Again, start by logging into your Tangerine account.
- Head into your chequing account section specifically.
- Look for an option that says “Void Cheque” and click on it.
- You can then download a PDF. This digital cheque has all the details you’d find on a paper one.
- Depending on the current app version you may find that the void cheque is only available on the computer version of the Tangerine banking site, not on the app.
Making Sense of Your Tangerine Void Cheque
All cheques, void or not, have some numbers at the bottom. These numbers might look confusing, but they’re just giving information about your bank and your specific account. Here’s a breakdown:
- Transit Number (00152): This number is usually about the bank branch you signed up at. But Tangerine is mostly online. So, all their accounts have the same transit number.
- Financial Institution Number (614): This number is about the bank itself. Even though Tangerine is part of a bigger bank called Scotiabank, it has its own unique number.
- Account Number: This one’s simple. It’s just your personal account number with Tangerine. It’s longer than some other banks, with 10 numbers in total.
Frequently Asked Questions (FAQs)
1. How do I make a Tangerine void cheque?
If you have a paper cheque from Tangerine, just grab a pen and write “VOID” across it. That’s it!
2. Can I get a Tangerine void cheque online?
Yes, you can! Log into your account, find your chequing account section, and there should be an option to download a digital void cheque.
3. What do all those numbers on the cheque mean?
They’re just details about your bank and your account. The three main numbers to know are the transit number (about the bank branch), the financial institution number (about the bank itself), and your personal account number.
4. Is there a limit to how many digital void cheques I can download?
No, there’s no limit. You can download a digital void cheque from Tangerine as many times as you need.
5. What should I do if I mistakenly gave out a void cheque without writing “VOID” on it?
If you accidentally gave out a regular cheque without marking it as “VOID,” contact your bank immediately to inform them. They might suggest monitoring your account or taking additional precautions.
6. Can I use a void cheque from Tangerine for any bank transaction?
Yes, a void cheque from Tangerine can be used for any transaction that requires bank account details, such as setting up direct deposits or automatic payments, regardless of the institution requesting it.
7. Are digital void cheques as accepted as paper void cheques?
In most modern settings, yes. Many businesses and institutions accept digital void cheques, especially as more transactions move online. However, it’s always a good idea to check with the requesting party first.
8. Is there a fee associated with ordering more than one chequebook from Tangerine?
While the first set of 50 cheques is free with Tangerine’s No Fee Daily Chequing Account, any subsequent chequebooks will cost $20 each.
9. How secure is it to send a digital void cheque via email?
While a void cheque doesn’t allow someone to withdraw money, it does have your bank details. When sending sensitive information via email, ensure the recipient’s email is correct and consider using encrypted email services or secure document-sharing platforms.
10. I lost my chequebook. What should I do?
If you lose your chequebook, notify Tangerine immediately. They can guide you on the next steps to ensure your account remains secure.