It’s 2022, and there are many forms of payments that have become popular in recent years. Electronic transfers, credit cards, debit cards, Venmo, and Apple Pay to name a few. However, paper checks are still very much relevant when it comes to non-cash payments.

Let’s look at 6 reasons why checks are being used in 2022.

1. Voided checks for transactions that need bank information.

A voided check is a check that has “VOID” written by you across the front of the check. It contains your account number and bank’s routing number, which can be used by a third party to set up an electronic transfer to or from your bank account. Voided checks are helpful if you want your employer to make a direct deposit of your wages or expense reimbursements to your account. They are also used to set up automated bill payments or loan payments. You can get more information about how to void a check here.

2. In some cases, checks are the only convenient way to make payments.

When it comes to paying rent, many landlords may insist on payment by checks. The IRS accepts payments by checks. Some companies may charge you processing fees to pay a bill by credit card and not charge you anything extra for check payments. According to a 2018 Pew Research Center report, 11% of adult Americans do not use the internet. So, if you live somewhere without convenient internet connectivity, paying your bills in the form of a check may be the only option for you.

3. Some businesses may have a minimum amount for a purchase by credit card.

Credit cards, if used wisely, can offer many benefits to the credit card holder. However, credit card processing companies charge businesses a fee for every credit card transaction done through them. In such a scenario, certain companies may have a minimum amount for purchases by credit card because of the fees they will incur. If you are a buyer without any other payment method, you may have to buy extra items to meet the minimum amount. However, if you pay by check, you don’t have to worry about this.

4. You can track checks.

If you have a recipient who does not accept debit or credit cards, you can use a check to make the payment and track the receipt of the check. Paper checks can be tracked in a way that cash, money orders, or automatic bill payment can’t. Just mail the check to the recipient using a mailing service that has a tracking method. If your payee raises a dispute about your payment, you can show him the mailing receipt. 

5. You can pay by check even if there is a power failure.

In-store payment by debit or credit cards need to be carried out by electronic equipment and a working phone connection. In the event of a sudden power failure, you may be stuck with a lot of items in your shopping cart without a means to pay by your debit or credit cards. What’s more, nearby ATMs might also be inaccessible due to the power failure. In such a scenario, payment by check can be a lifesaver for you.

6. You can use checks to make payments to the older generation who may not use online transactions.

Personal checks are a boon for making payments to the older generation who may not be comfortable with online transactions. For example, making periodic payments to your parents by personal checks may be more convenient for them than accepting money by electronic money transfer. Dropping a check in the mail for them to deposit in their bank account is definitely the best way to make a payment to elders.