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Thursday, November 1, 2018

How Can Check Payment Be a Smart Financial Move?

I haven't used checks in a long time. I recently got a new bank account and didn't even bother ordering checks with that account. However, someone sent me this post on how using checks can be beneficial financially, which gives me some food for thought. Hopefully you'll also be more enlightened on the topic.


Making payments is always a burden on finances. For businesses and individuals, payment options are plenty. You can swipe your card, transact online or issue a check. With so many payment options available you need to find the payment option that is both easy as well as widely accepted. On top of finding a widely accepted and easy payment method, what if your payment method helped your finances?

Businesses buy overnight checks and keep them in stock to make payments. When you buy overnight checks, you are settling for a widely accepted payment method that helps you plan your finances and saves you money. Here are how check payments can help you out.


The biggest advantage of paying with a check is that it gives you time. When you swipe your card or transact online, you need to have funds in your bank. But what if the fund is not there in your account at the moment, and you need to make a transaction? You can write a post-dated check. A post-dated check, if accepted by your payee, allows you to complete the promised payment after your funds are replenished. So, with the help of checks, you can plan your finances and payments.

Cuts Down Fees

Online transactions, money withdrawals, and credit card transactions can come with a fee. For spending your money, you end up paying a lot of money to payment gateways. To prevent extra fees, you can write a check that your payee can cash or deposit at their bank without incurring a fee. If you do buy checks from the bank, you might end up having to pay too much. There are websites where you can buy overnight checks online and have them delivered. So, you can save money by opting to pay using checks.

Helps Maintain a Good Credit Score

Maintaining good credit is very important. Your credit record is always scrutinized when you try to take any form of a loan from the banks. So, it is imperative to avoid having a bad credit history. Payments made using credit cards can end up leading to a bad credit history if you happen to miss out on any payment. With check payments, you need to inform the bank if you have written a post-dated check. The payee can use a fund verification software to prevent cashing the check if you have low funds, this, in turn, saves you from getting a bad credit history.

Bulk Checks Save Money

If you have to make frequent payments to vendors, having a check printing set up can be a smart move. You need to buy overnight checks in bulk. Bulk order of checks can make the purchase affordable. To set up a check printing structure, you need to have a printer, computer checks and check printing software, like QuickBooks. Once you have the set up in place, you do not have to count on any gateway to complete your payments.

Checks are an easy payment method, which can give you the time to plan your finances well. Even if you transact using other transaction methods, be smart and use checks wherever you can.

See my disclaimer.

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