Are you wondering if you should finally ditch paper checks and fully embrace digital finance? Digital transactions have their good points, but so do checks. In fact, in some ways, checks are superior to credit cards. So before you say goodbye to your checkbook, note 3 advantages of using paper checks over a credit card.
1- They Might Help You Save Money
Writing a check forces you to slow down when making a purchase. It gives you time to rethink your buying decision. Reconsidering your purchase may help you realize it isn’t in your best interest. You may find this especially helpful if you have a history of making snap decisions you later regret.
Credit Cards Make Buying Too Easy
On the other hand, using a credit card could make it too easy to buy on impulse. Impulse purchases may offer a quick spike in the feel-good brain drug dopamine. Unfortunately, the experience of giving yourself repeated dopamine spikes can be addictive, leading to ongoing spur-of-the-moment buying sprees for business or personal use.
Even worse, impulse shopping can develop into compulsive shopping, where you have little control over your actions. People suffering from compulsive shopping are emotionally driven to buy, not to fill a real need, but to psychologically soothe themselves. The desire is so strong that they’ll continue to shop regardless of how much it’s damaging to your company’s budget.
Checks Buy Time
But shopping by check doesn’t tend to have the same instant gratification, lessening the impact of dopamine. In other words, checks buy time. And the more time you can insert between your initial urge and the actual purchase, the better your odds of sticking to your budget.
2- They Might Discourage Thieves
Thieves want to grab the object of their desire and then leave the scene as quickly as possible without leaving a trace. It’s rather easy to use a stolen credit card online or even at a checkout counter without showing personal identity. That’s the reason today’s thieves target credit cards.
However, paper checks aren’t as appealing to thieves. Checks present a substantial problem surrounding identity. Few vendors are likely to accept a live check without identity confirmation, requiring the thief to provide personal information such as a driver’s license number or a fingerprint.
Thieves don’t like complications. They’d rather snatch your credit card, max it out in minutes, then discard it. They don’t have time for paper checks.
Common Credit Card Problems And Their Solutions(Opens in a new browser tab)
3- They Might Be Welcomed Where Credit Cards Aren’t Accepted
Some small vendors aren’t interested in accepting credit cards. If they did take cards, they would have to pay transaction fees.
Those fees aren’t horrible if the company is highly profitable. But, if the business has only small profit margins, the fees may not be worth their cost.
Some old-fashioned mom-and-pop enterprises or off-the-grid entrepreneurs may not want the hassle of setting up the technological infrastructure required for credit card transactions. For example, they would need steady and reliable high-speed internet and phone connections. However, those small businesses may still welcome paper checks with the proper identification.
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