Credit cards and debit cards are increasingly becoming common ways to make payments, but if you have a bank account, ordering personal checks might come with many advantages both in terms of convenience and your budget.
Use Personal Checks to Give You More Flexibility
If you need to remove money from your account but don't have an alternative way to access it currently, a personal check can provide you with an additional backup option. You can even write yourself a check and cash it.
Find Out Who Accepts Personal Checks
Not every party will necessarily accept personal checks because of the concerns of a bounced check. However, if you are trusted, you may be able to have them make an exception. This is especially true in the case of emergencies. A personal check is much quicker and more affordable than using a money order or cashier's check.
Oftentimes, when paying by check, the check will be cashed in a few days. However, there are some companies that scan checks and clear them immediately similar to when you are using a debit card.
Stay Within a Budget
When you write out a check, you will understand how much money you are spending. With credit, you can easily find yourself spending more than what you can afford. Also, a personal check does not come with the interest rates found with a credit card. You'll also have an easier time keeping track of all your expenses.
Writing a check takes more time but this can help you avoid spending money. The time it takes to write the check can cause you to second-guess your purchase.
Oftentimes, making a payment using a credit or debit card requires a convenience fee. However, mailing a check is simple and easy. You are also able to post-date the check so it will not be cashed until you have money in your account so you can make a payment early.
Avoid Sending Cash in the Mail
Sending cash in the mail is risky because it's easier to feel money inside the envelope than a thin check that can be hidden among paper. Also, choose an envelope that is opaque for maximum security.
Personalize Your Checks
You are allowed to choose among several personalized checks so you can use checks that reveal your personality. Personalizing your checks can also be useful if you plan on starting a business.
To learn more about checks and checking accounts, talk to a bank, such as FCCU - First Community Credit Union.Share