Why Paper Cheques Are Still Relevant

paper cheque

While we live in a world where payments can be made electronically, there is still a need for paper cheques. They continue to be relevant as they offer a paper trail, reduce risk, and they help to serve a need both for individuals and businesses. They are convenient to use and make it possible to keep good track of all of your transactions.

Paper Trail

With paper cheques, there is a trail so it is easier to find out what was spent and where it was cashed. That can be important when it comes to having records to verify you made a payment. A photo copy of the cheque before you send it as well as one from the bank when you get your statement showing it was cashed can help you to keep very good records.

For a business, it shows a level of professionalism. Paper cheques often need the approval of more than one person, so there is a check and balance system in house for the business. Being able to send a cheque for accounts payable is important so you can build good business credit and stay on top of your cash flow. It also makes reconciling the books much easier.

Reduced Risk

Criminals can get away with forging cheques, but it is significantly harder than for them to get a hold of a credit or debit card information. When they forge a cheque, they often risk getting caught due to the signature, where they try to cash it, and being seen on surveillance video cameras. With your credit or debit card, they can do a great deal of damage all online and they remain safe by a cloak of darkness.


Not all businesses out there are set up to take your payment electronically. With paper cheques, you can pay for what you need and not have to carry cash to do so. Plus, you aren’t left out there in the cold because the entity can’t use other sources of payment to complete the transaction. Sometimes, you may need to write a cheque to pay for something, even though you know the funds won’t be available in that account for a day or two longer.

That type of practice isn’t encouraged, but it does happen. For example, your may have a deposit on Friday but you know it isn’t going to show up in your account until the following Monday. Yet you have bills to pay or you need to get some grocery shopping done over the weekend. With this type of scenario, you can write a cheque and before it gets to your bank, the funds will be available.


When you pay for services, it is a good idea to have a paper trail to fall back on. If you pay in cash, there is no proof you actually paid for those services. This can become a stick situation if you aren’t careful. For example, you may need to pay a deposit for an event hall to be rented or even to rent a home. You may be getting your house painted and they want a percentage of the funds up front. Writing a cheque proves you did pay for those costs should there be a problem that arises. If the cheque was cashed, that can be your proof in a court of law.

Save on Fees

The amount of money you get charged when you go to the ATM is ridiculous! It may be only a few dollars each time, but how much does that add up to each month or annually? Look for a cheque account provider with no fees attached for the service. You can also avoid higher fees such as sending a cashier’s cheque or a money order when you can use your own account at no charge.

Stop Payment

When you pay for something with cash or electronically, there is no way to stop the payment on it. You are at the mercy of the recipient to give you that money back, and that can turn into a time-consuming hassle. With a paper cheque, you can contact your bank and make a request for them to stop payment on it. While there is often a fee that applies to this service, it is going to be less than the value of that cheque.

You may have had every intention of allowing that cheque to be cashed, but then something comes up that completely changes the situation. You can go directly to your banking institution and complete the stop payment process. This avoids problems trying to get it all worked out with the person who has that cheque. Even if they try to present it to the bank, it will be refused.

Record of Expenditures

Hopefully, you have a great budget in place for your household expenses. Yet you may be wondering where so much of your money goes! How much do you spend eating out or shopping? Where can you cut out extras to add more to savings? When you use paper cheques, you can keep better records of all of your expenses. You will be able to accurately account for where your money is going every single month.

Proof of Payment

Should you personally get contacted that you didn’t pay a bill or your business has any outstanding accounts payable, the cashed cheque is going to be on record with your bank. They ca provide you with a copy of it to show to that creditor. It will verify that the account was paid, when it was cashed, and even who signed to cash it.

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