You might not even have noticed the gradual change from paper checks to electronic checks. Some banks stopped returning your paper checks years ago, while others offer you only electronic copies of them. There are a number of reasons why it makes good sense to quit using checks. Perhaps some of these reasons apply to you.
Nothing to carry
If you are using checks to pay for expenses such as groceries, clothing or other purchases, not only do you have to carry a checkbook but you also have to carry two forms of identification. It seems like everyone wants a record of these numbers in the event of a bounced check.
Let us examine what was just mentioned above. Printed checks almost always contain at least your name and your address. They also often contain your telephone number. If you use a check for a purchase at a grocery store, stop and consider how much identification is now available on your check:
• Your name
• Your address
• Your telephone number
• Your checking account number
• Your driver’s license number
• Possibly your credit card number
This is the type of information that identity thieves would love to get their hands on. One unscrupulous person in the line of people who may handle your check and you could be the next victim of identity theft.
Stop and consider the savings that you would have if you quit using paper checks today. Not only would you save the expense of purchasing printed checks, but the cost of mailing them. The cost of mailing a check does not stop with the stamp either, it involves envelopes and perhaps even a trip to the post office which involves additional gasoline.
One of the most frustrating things about paper checks is if you make an error in your checkbook you can find yourself facing a costly overdraft fee. You can avoid these fees by using a debit card (which will not allow you to exceed your balance), or setting up bill payment (almost always free with your account, and also do not allow you to exceed your balance) for regular bill payment.
Stop and consider the positive environmental impact of not using checks. If you use your debit card or electronic payment you can contribute positively to a cleaner environment.
There are many valid reasons why you should quit using checks, these are just a few of them. Stop and consider your options and decide if it is time for you to quit using paper checks. For some, online banking where there are checks on demand works better while others will continue to prefer more traditional banking choices.