Are checks still useful?

We live in the digital era. Technological developments have been so huge that even payments have become extremely simple and fast nowadays. PayPal, Venmo and Zelle are online services that allow us to make payments directly from our electronic devices. Banks have their own applications to give their clients the chance to transfer money easily, regardless where they are. And debit, credit and prepaid cards are being used consistently. In light of this, some may wonder if the old, ‘90s movies style checks still have any utility. Surprisingly, the answer is still a straightforward “yes”.

As already mentioned, there are many alternatives that do not carry checks’ cons with them. In fact, the money spent for buying the envelopes and the stamps or the long times required to process payments with checks can easily be avoided with the wide range of possibilities that we briefly discussed. However, personal checks are still useful and some companies are providing themselves with devices that can reduce the time of the operations substantially. Panini.com, to give you a concrete example, offers a lot of modern and advanced check scanners that can scan and store information in just a few seconds and that can be i deal for big companies that receive plenty of checks on a daily basis. But why do people still use them, then? Well, the advantages are probably more than you can imagine!

First of all, some small retailers simply have not adopted modern payments methods yet. In this case, checks can help bridging payments without that would probably be too high for cash. Secondly, house payments can be more difficult than you think. For example, although bigger properties may have adopted modern methods some landlords can still be difficult to deal with for the tenants. They could not have ways to receive online payments such as PayPal and checks could be a good solution. Moreover, if you use checks you can avoid fees. Money orders and transfers often have fees to pay that can be annoying if repeated over time. In this sense, checks may be a solution sometimes. In addition, if you need to stop a payment made by check that is as easy as making that request to your bank. However, there may be cases in which the option of cancelling a payment is not possible and checks can help avoiding this issue. Finally, paper checks are connected to your bank account and you can always find record. Especially if you are older and you are not that familiar with modern technology, having paper records can make your life way easier.

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