Check Accounts

I can remember when checks and checking accounts were the best method to make your day-to-day financial transactions.  Technological advances means that making a financial transaction is nothing more than a click away; but fortunately checks are not redundant.

It is an undeniable truth that consumers use checks far less than say 20 years ago.  Credit cards, online payment channels like PayPal are an easy and convenient alternative.  There are however some situations that just cry out for the old fashioned check.

Stalling Creditors

There are times when you want to slow down your bill payments.  Cash flow is all important and paying a bill by check can buy you a day or two extra.  By the time you put your payment in the mail, your creditor banks the check, and then it clears at your bank can easily take 2 or 3 days.  However for all intents and purposes you have paid the moment your creditor receives the payment.

Safety of Transaction

Bank checks are only issued by a bank if you pay for them first, and so they are guaranteed by the bank and as such are a safe as cash, with the added bonus of the check being written in the name of the person it is intended for. This added level of security is required ofr many important transactions like buying a car or a house.

Business Still Like Checks

It sounds a little quaint, but many business still like to use checks to pay their bills.  They are easily mailed and provide a written record of your payment in the stub.  Many small business owners like to sit down with their checkbook and pile of bills once a month and clear all their bills in one sitting.

There are many more possible uses for the old fashioned check.  A takes just a little imagination to think of ways that using checks could make your life a little easier.  If you haven't written on for a while give it a try.