Are personal checks becoming the currency of the past? The answer is yes and no. In some European countries, such as Sweden, checks are no longer being accepted, while others, such as the United Kingdom, are gradually letting them phase out in favor of debit, credit, and cash. In the United States, the use of personal checks is still a viable transaction. In fact, about 33 billion are still written per year. Additionally, online shoppers still seek out books of customized checks through websites - and this is in addition to those who still use the basic books of checks issued by banks.
What are some of the benefits of using personal checks? This past recession saw many getting into debt over credit cards, and checks won't cause a person to go into debt. Generally, a person writes one when enough funds are in his or her account and, if not, the check bounces and results in additional fees. Customers, in physical or online transactions, also see the use of personal checks as a benefit. Those wary of giving out credit card information over the telephone can use the numbers on their check instead.
For a business, the use of personal checks has some additional advantages. A check transaction often means that the customer has enough funds for the transaction. If not, the business can delay delivery or stall services until the check clears. Also, businesses may be charged a fee for credit card transactions - especially if the card doesn't go through. This isn't the case when a check is processed.
Aside from the financial advantages of personal checks, they also have an aesthetic advantage. The average consumer can have a set that reflects his or her personality. A business using a set, on the other hand, can customize the set to reflect the nature of the company, from the colors to adding a logo to the background.
For more information, please visit: Custom Checks