Check Accounts

In recent history checks were the best way to run your day-to-day finances.  Technology has made financial transactions quicker and easier than ever; but fortunately checks are not redundant.

It's a truism that people 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.

Slowing Down 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.

Safety of Transaction

Bank drafts are guaranteed by the bank they are issued from and so are nearly as good as cash. This level of security is required for certain transactions like paying deposits on 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.

Although a little old fashiond, if you use your imagination it is easy to think of ways that a check account would improve your life - why not give it a try?