Before explaining why personal checks are necessary, let us shed some light on the term itself. A personal check is the one that is processed directly from your checking account. When you hand over the check to someone, apart from the essential details such as the date and account number, it will have the amount and name of the recipient mentioned on it. In other words, personal checks are a means of assuring the recipient that no matter when he deposits it, the money will be there.
Despite the clear advantages of digital payment over its counterpart, personal checks are much in use and can never be obsolete, per se. There are innumerable small scale businesses that do not accept credit or debit cards. Also, when it comes to paying the rent to your landlord or gifting someone, checks are, undoubtedly, the most preferred alternative.
Why should you buy personal checks?
If you ever conduct a survey and ask the millennials to name one habit that they are trying to get rid of the most, we are certain that maximum of them will sway towards the practice of spending more than what is necessary. The digital modes of payment have made transactions so easy and simplified that people do not think twice prior to falling prey to temptations that prompt them to shell out their resources in the blink of an eye.
This privilege is something that cannot be exercised when one is dealing with checks. While some might consider this to be a drawback, according to us, falling back on the old-school personal checks can be a great way of curbing your expenses and resultantly plumping your savings. The mere length of the process of visiting the bank and getting the cash immediately will persuade you to take a step back and save it for later. Economic experts have always been of the opinion that it is the initial steps of savings that call for the effort. Once you secure a decent fund for yourself, you will automatically incline towards alternatives that do not cost as much.
Other than this, here are the additional benefits of turning to personal checks for your transactions.
If you happen to lose your purse that has a lot of cash or, mistakenly share the passwords for your online transactions with somebody else, under no circumstances can you retrieve the lost money. Even if you do, the procedure will be incredibly tedious and agonizing. In the case of checks, the banks will need to see signatures on all of them and the cashiers will be required to verify the authenticity of the customers’ signatures.
Avoid convenience fees
For the uninitiated, there is an ample number of institutions out there that charge convenience fees for every transaction. Even if they appear negligible at first, the costs will add up when you carry out multiple trades. Nevertheless, when you pay the recipient through personal check, there aren't usually any additional charges whatsoever.
It is an offline option
Not everyone is comfortable or proficient with the idea of making payments through the internet. In fact, as per reports, more than 11% of American adults aren't acquainted with the functionalities of the internet. Furthermore, a major part of this group favors dealing with checks rather than cash.
Order checks online
Now that you know the significance of carrying around a few slips from your checkbook at all times, let us bust a small myth here. There are many who ditch the idea of relying on checks simply because they believe that reordering checks cost a bomb. However, only a part of this statement is true because you are likely to pay a hefty price for reordering the checks only when it will be sent to you by your bank. Instead, if you choose to order the checks online, you will be cutting back way more than you expected. Checks that cost less aren’t essentially of cheap quality. If you land on the best place to order checks from, we can assure you that there will be numerous interesting styles and designs for the checks at your disposal, and that too protected by top-notch security features.