![]() ![]() So, what exactly are the payment methods - some that can boost your bank account thanks to rewards programs - that you could use instead of writing checks? Using one of the best cashback credit cards can also earn you money on your everyday purchases. This can be at the grocery store, when paying utility bills, or at the farmer’s market. If you find yourself having to pay for something that isn’t in one of the above categories, then you may want to skip writing a check in favor of more secure payment options. You can also track the journey of your check via your bank and see copies of it on the receiving end as well.Ĭhecks may be your best option when sending gifts or paying folks for services like babysitting if you don’t have cash on hand. This could include paying the IRS, making a down payment on a house, or paying your child’s college tuition bill. ![]() And while writing checks comes with its own set of issues, laying low until fraudsters are off of the scent of your cards isn’t a bad idea.ĭo you need to make a significant payment with as much of a paper trail as possible? Writing a check can come in handy here. If you have had the unfortunate experience of having your identity stolen, it’s understandable that you may want to pivot away from credit or debit cards for a while. Now that you know the risks of writing checks, there are several situations in which writing a check could actually make sense. Credit card accounts tend to have better fraud protection than even the best checking accounts due to reporting procedures and various laws. However, not all accounts are created equal. Let’s face it, identity theft and fraud aren’t exactly rare occurrences anymore there are many ways in which your accounts can become breached thanks to criminal activity. You’re especially vulnerable in this situation if you leave your checkbook in an easy-to-access location, such as on your deck, dresser, or kitchen table. Things can be made even worse if, during a robbery, your checkbook is stolen, which means the thief can use it as they please. It’s an experience that can leave you feeling violated due to your safe space being compromised. And anyone with access to the garbage can find it and engage in criminal activity.Ī homeowner’s worst nightmare is being the victim of a home invasion. But that doesn’t mean that the people you write a check to exercise the same level of caution.Īs a result, your dog walker or your nephew on his twelfth birthday could be disposing of your check wholly intact after they deposit it with their smartphone. You may be super careful at home to shred any important documents before you throw them in the garbage, such as bank statements, insurance papers, and tax forms. That’s why your checks have identifying information on them, including your full name, permanent address, and phone number.Įven more concerning, however, is that checks have your banking routing and account numbers on them - how else would the payment be processed? All of that information on display for anyone who handles your check can render you vulnerable to unsavory activity. That check you wrote to buy a couple of boxes of Girl Scout Cookies from a friend or family member’s child could fall into the wrong hands.įor a long time, paying by check was your only option, such as buying something from a paper catalog or paying a utility bill by mail. While the USPS tries to deliver our mail as safely and efficiently as possible, the reality is that mail can be and sometimes is stolen. While it may be easier to write a check than it is to use an alternate method of payment, there are problems that can arise when you do.Ĭhecks are super handy when you need to make a payment that has to be sent by mail, such as making a payment to the IRS or sending money to a landlord’s P.O. That’s why financial experts recommend paying with your credit or debit card instead.īut people are still writing checks, including 59% of millennials and Gen Xers and even more baby boomers. However, you may be more at risk of theft and fraud if you’re still using this payment method. In general, paying by check is fairly safe, thanks to measures like watermarking and specialized check backgrounds. 9 Things You Must Do Before The Next Recession ![]()
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