There is a tendency to view checking with paper checks as something of the past when there are payment options that can be made digitally such as Venmo, Zelle, and Apple Pay, but there are still some instances where it’s more beneficial to use paper checks. In these instances, it’s safer or preferable to use a personal or paper check, how to utilize checks in a safe manner, and when it’s okay to leave them out.

You might want to make your check in one of the following scenarios:

  • Shopping at a small business
  • Cash gifts
  • Tracing important payments
  • Secure your identity

Shopping at a Small Business

Because of their size and credit card processing charges, some small firms aren’t able to accept credit cards. A study found that only 27% of small businesses prefer digital payments (think credit cards or ApplePay) over traditional payments (cash check, cash, and money orders). So, if you are hiring someone to mow your lawn, purchase products from a local market (or flea markets vendor), and even employ the occasional dog walker, you may wish to keep a bank account at the ready to pay the bill.

Gifting Money

If you’re in a hurry and are heading to an event like a birthday celebration, wedding, or other family celebration It’s probably best to stash money into a gift card. However, when you’re giving money away as presents, beach checks may be a better option as opposed to cash. Although both checks and cash can easily be lost in the excitement of unwrapping presents, one of them is addressed specifically to the individual and the other isn’t.

This may help the recipient be able to recall who gave them cash. If they set cash to the side and revisit it later, they could not recall who gave the money to them. Giving money by check could additionally encourage the recipient to save the funds rather than spend them all at once. They’ll have to visit any bank or a mobile app for depositing or cashing it, which may take a little more effort.

Tracing Important Payments

If you are making a major payment such as a down payment on the purchase of a house, a college tuition amount as well as a deposit towards the reception venue, or even a payment to a government organization like the IRS It is recommended to use a paper check. This can ensure that the payments were received as you’ll be able to see what the recipient of the check does when it deposits or cashes your check in your bank’s next statement or through your bank’s online platform. Some banks will even show you a photo of the cashed check so you can ensure it’s correct. This may even help prevent the payment of extra fees due to late transactions since they will all be dated.

Additionally, in the event that your check is stolen or lost You may request to stop your payment by calling the bank’s customer support number or online on the website of your bank. If you want to make a stop payment on an unpaid check, you’ll need to select “stop” on the “stop payment” option via the online portal of your bank. However, you must do this before the check has been cashed. There’s also the need to enter your account number, the number of the check as well as the value in the amount of the cash. Make sure you’ll probably have to pay a cost to stop a check. The fees will vary from bank to bank, but you may end up paying approximately $33 to stop the cash, while some banks could cost more.

If You’ve Been the Victim of Fraud

Has your sensitive financial information been compromised or stolen? Don’t worry, you’re not the only one. One study showed that in 2018, 14.4 million people in the U.S. were victims of identity fraud which amounted to a total amount of $3.4 billion worth of loss. The worst part is that the same study found that even more victims had to pay from their own pocket to cover the cost of that fraud.

Based on these figures so it’s logical to like to keep your personal information secure if you’ve been through similar issues. A lot of people return to using cash or checks made of paper in lieu of swiping their credit or debit cards at local retailers. They may also decline to submit their payment details through retail websites or use online and digital payment methods. While writing a check on paper isn’t a guaranteed method keeping your private information offline and swiping your credit card with caution could aid in reducing the chances of fraudulent identity theft and other financial crimes.