From pre-authorizing payments to getting paid, void cheques still come in handy… even though cheques are rarely used in Canada. The main reason you need an EQ Bank void cheque is to share your banking information with someone else.
Understanding Your EQ Bank Void Cheque
If you know what the numbers at the bottom of your EQ Bank void cheque mean, you can probably just share them… without having to go looking for a Void Cheque in your banking portal every time someone asks for one.
So, here are the important features of a cheque in Canada that you should be able to recognize by looking at one :
1. Your home address
This is the information you don’t need to look at a void cheque to know. However, it is often needed by those who ask you for a void cheque.
2. Your branch address
As EQ Bank is an online only bank, there are no brick and mortar branches. Rather all clients share the same “branch”. The address to use is: EQ Bank 700-30 St. Clair Avenue West, Toronto, ON M4V 3A1
3. Your branch transit number
This is a 5-digit number that identifies the EQ Bank branch to which your bank account is associated. Again, EQ is an online only bank so all customers share the same “branch.” and therefore the same branch transit number, which is 19682.
4. Your bank Institution Number
The institution number is a three-digit number that identifies the financial institution you are dealing with, regardless of the branch you have chosen. EQ Bank ’s institution number is 623.
5. Your account number (or folio number)
The account (or folio) number is the identifier for your bank account. Without the transit number and institution number, it cannot be used to transfer money. As a result, it is the most sensitive information you will find on your void cheque, as it is the number that is associated with your bank account. This number varies in length depending on the financial institution but generally ranges from 7 to 12 digits.
How to find your void cheque on the EQ Bank online portal
Before the Internet, a void cheque was a paper cheque with “SAMPLE” or “VOID” written on it to ensure that the cheque could not be used. If you have a chequebook, you can still do this. In fact, a void cheque is a document that contains all the information displayed on a cheque, so you can still do it that way.
For those who don’t want to waste paper or who don’t have a chequebook, it’s possible to get a void cheque from Coast Capital by logging in to their online banking portal. Follow the steps below to download a void check in PDF in just a few clicks:
- Log into your EQ Bank online account here: https://secure.eqbank.ca/login
- Find “My Accounts,” click on “Direct Deposit,”
- Then “Generate Void Cheque.” A void check will be downloaded.
- All that’s left to do is to print it or send it to whoever is asking for a void cheque.
Now you know all it takes to find your account information and understand void cheques as an EQ Bank customer! Furthermore, you should now be able to write a cheque.