Sometimes it makes more sense (or is your only choice) to use a paper check instead of another means of payment. However, in spite of all this, there are a few compelling reasons not to ditch your checkbook entirely. Since money is not withdrawn immediately from a bank account when someone writes a paper check, bouncing checks (and paying high fees) becomes more of a concern. Additionally, personal checks often contain a wealth of personal and banking information for identity thieves and other scammers. If a checkbook is lost or stolen, victims might face a nightmare of trying to undo the damage. Security is another reason for the decline in use of paper checks. Online bill payment services make sending payments easier by automating the process. Many online merchants only accept credit and debit cards.
For many people, it is faster and simpler to swipe a debit or credit card than it is to write out a check while shopping at brick and mortar establishments.
This change in consumer behavior is the result of several factors, including the introduction of more convenient payment methods, the growth in online shopping, concerns about fraud and identity theft, and a desire to avoid bounced check fees. In fact, I can’t remember the last time I wrote a paper check.
In fact, some of my purses even had a special compartment that provided easy access to my oft-used pad of checks. Nowadays, however, I leave my checkbook at home. Until about five years ago, I used to carry my checkbook everywhere.
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