With the evolution of modern technology, our society is moving increasingly away from paper usage. Digital purchases have skyrocketed, and many companies choose to digitally store their records rather than  keep them on paper. Today, you can complete all of your shopping without ever setting foot inside a store. One of the major ways in which technology has changed is in the ways in which we spend our money. How often do you see someone pay for their groceries by writing a check? Although check writing has dwindled over the years, we recommend keeping a checkbook on hand for certain events.

The Pros of Checks

They are Great for Paying People Individually

Yes, we are living in a digital world, but that doesn’t mean that everybody has a smart phone. Perhaps your neighbor’s teenage daughter is babysitting your children, and you don’t have any cash on you. She might be savvy enough to have Venmo, but that is not always the case. For situations like these, a check suffices in a pinch.

Checks Still Work For Some Large Payments

When paying a medical bill or school tuition, schools may not accept debit card payments. Also, most renters still use checks to pay their landlords or apartment companies. Landlords and medical or educational institutions may not accept credit card payments.

Keep Checks for Security Reasons

If your wallet or purse is stolen, you may not have any access to your money at all. You can still write checks while you are waiting to receive your new debit and credit cards.

Precautions for Checks

If your checks end up in the wrong hands, not only could your money be stolen, but your identity could be stolen. Although we recommend keeping checks for personal use, make sure that your checks are securely stored. The best place to keep checks is in a locked box or drawer in your house. That way your checks are safe from thieves even if your house is broken into.

side-banner_timeThe Cons of Checks

The Cost

Although you may not be paying convenience fees like you would when you pay with a credit card, you still have to pay for your checks. As banking shifts away from paper checks, they become more expensive to order and purchase.

Processing Time

Credit or debit transactions clear relatively quickly in comparison to the processing period of a check payment. Waiting for a check to clear can be excruciating if you are on a budget because you do not want to overspend. Paying with a debit card can be easier for following a budget because your payments clear immediately.

You’re Holding Up the Line

Have you ever been in line behind an old lady who doesn’t even pull out her checkbook until the cashier rings up the entire purchase? You then have to wait while she questions what the date is, and then she writes up the check amount and signs it. Meanwhile, the next aisle over, three people have checked out in the same amount of time. Don’t be that person. If you have to pay with a check, have as much of it filled out as possible before you receive the final bill of sale.

Our payment processing services include ACH payment methods for checks. If you would rather not mess with checks, we offer many payment gateway services for your business. Contact Americard Payment Processing today to learn more.