Why people still using paper checks in SuperMarket

The days of waiting impatiently behind writing a check to someone on the supermarket register are mostly gone, but billions of checks still change hands every year in the United States.

n On the day of electronic payment, the check may look old. But they are still routinely used to pay businesses and landlords, as they can be less expensive, more convenient and more predictable than modern-day digital options.

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Checks are cheap and convenient

Whenever you make a purchase with a credit or debit card, the merchant is charged by the various financial institutions involved in the transaction, which is usually a small percentage of the total price. For large national chains, those fees may not have much impact, but for smaller businesses with lower margins, they may start adding up. And some small businesses, such as one-man landscaping businesses, landlords with a handful of properties for rent, or even independent corner grocery do not want to take the time or effort to install credit card processing equipment and software Huh.

But consumers will feel uncomfortable paying their rent or services, such as cleaning pools in cash, and many small businesses won’t be thrilled to have that cash on hand. And of course, there are plenty of online payment options, but they usually require setting up an account for everyone, and when funds are available, they may have their own or complex policy fees. For example, small-time landlords and tenants will not feel comfortable asking each other to set up new online accounts and learn the intricacies of a particular digital payment system.

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Other countries with a banking system have standardized procedures for inexpensive electronic, person-to-person payments, which have switched from checks to a greater extent than the US, but the US system still offers bank-provided payment systems and third -Part is a patchwork of online providers.

But anyone with a bank account can transfer funds from any bank to any other bank for free or at a nominal fee. Many banks allow customers to deposit checks by simply taking a photo of them, and some will even write checks and mails on behalf of their customers. And until all consumers’ accounts are checked, they can usually still receive prepaid money orders and go to the check cashing store, allowing at least limited use of the check system. On the other hand, online payment systems often require a checking account to transfer or withdraw funds.

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Checks are predictable

Generally young and old people of Czech manual working Americans are well aware of this, without seeking help from banks or consulting online manuals. They can use the checks to ensure that their own bank will effectively keep automatic receipts when they are depositing. They can stop payment on checks before depositing. They also know that until the check is deposited, the fund will remain in their own bank accounts – meaning a few extra days to earn interest or ensure the accounts are comfortably funded.

They can deposit a lot or deposit a cash check with no consideration from friends, relatives or business associates at their general financial institutions – and they can refuse to cash in or out-off by returning the check.

Conversely, every online payment system has its own system for transaction logging, dealing with refunds and withholding payments and denying unsolicited transfers. They are not necessarily flawed, but they still take the time to write a check, or leave a stack of checks in the bank.

Of course, millions of American workers have switched from receiving paychecks to receiving direct deposits, and writing monthly checks to utilities and credit card companies to use online payments. Should individuals and small businesses appear to have an equally convenient and predictable system to cover payments, individual checks may eventually reach their expiration date.

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