Why Paper Checks are (Sometimes) Still Needed — MoneyCrashers

Photo Credit: CarbonNYC [in SF!] Flickr via Compfight cc
The use of paper checks is way down, but there are still some situations where they are needed:

Security is another reason for the decline in use of paper checks. If a checkbook is lost or stolen, victims might face a nightmare of trying to undo the damage. Additionally, personal checks often contain a wealth of personal and banking information for identity thieves and other scammers. Since money is not withdrawn immediately from a bank account when someone writes a paper check, bouncing checks (and paying high fees) becomes more of a concern.


Leave a Reply