Check Accounts Viability

In recent history checks and checking accounts were the only viable way to conduct your day-to-day financial affairs at both a personal and business level.  With the advent of new technologies, financial transactions can happen at the flick of a mouse button; but the reality is that computers and the internet, have not quite made the humble check 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.

Putting the Brakes on Payment

Sometimes you just don't want to pay your bills too fast.  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.

Making Safe Payments

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 to Pay By Check

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.

Checks have many other uses. Just use a imaginative thinking to make using checks a convenient part of your life.  If it has been a while since using one, why not give it a try.