This article is for the companies and businesses that deal with checks to pay their vendors and suppliers. But as an individual as well, you can save money on checks. There’s no need to order expensive checks from your banks. Also, your bank doesn’t print their check, they outsource the work to a third party. So why don’t you order checks online or use online checks?
In this day and age, there are just better ways of doing things. Companies are learning how to save more money and get things done more efficiently. One great way that many businesses save is by using online checks for payments. We are missing out on saving big time on checks, but you don’t have to be one of them. Learn how to save by reading on.
When we were renters, we used online check feature from our bank to pay our rent. You can even setup auto check payments at a regular interval. if you need to pay some bills with a check, you can set up monthly e-check facility provided by your bank or a reputed e-check company.
Why Should You Use Online Checks?
First of all, using computer/online checks saves both time and money. Paying employees through online deposits and checking is a fantastic way to avoid long lines at the bank, lost checks, save on paper, and is overall a more efficient way of handling finances.
Many companies in this day and age don’t understand how many benefits come from using online checks in lieu of paper checks. Not only is saying goodbye to paper checks good for the environment, but overall it is a quicker way of doing business, and with technology allowing companies to do more and get work done faster, it only makes sense that many would want to use a better way of banking and payments.
E-checks are affordable and very secure, making them a safe bet for any company looking for a more efficient way of receiving money.
Online Checks Can Get Your Company Money Faster
Doing your banking online is a much quicker process than doing “in store” banking. Waiting on lines, transaction times, waiting for checks to clear, and ordering checks take time and can delay business and even cause you to lose customers who want to see fast results.
Online and E-checks can Bring you More Customers
People want to be able to pay quickly and get what they want quickly, and being able to pay efficiently, whether they are from out of state ordering products or simply don’t like the hassle of waiting for companies to cash their checks, is always important.
The world is quickly changing in the way that we do business, and paying online is fast becoming the way that things are done. Companies that are stuck in the past will end up losing clients and customers due to society’s desire to stay ahead and get things done quicker and better than ever before.
Online Checks Offer More Security
While paper has had its place, companies can save money and keep an eye on their financial security by using online checks. Paper checks can pass through many hands and run the risk of fraud much more easily than online checks can. Online checks and payments allow you to keep track of every transaction that goes in and out and provides companies with an easy-to-view and understand scope of checks being processed.
Most online check services offer to monitor and check up on individuals to help your company avoid dealing with fraudulent accounts or companies. Overall, online checks offer a broader range of security for the money coming in and out of your company.
Why Are Some Companies Still Holding onto Paper?
If online computer checks offer so many benefits, why do so many companies still hold onto the paper checks? A big reason is that people are comfortable with what they know and the way that things have always been done. Many old-time companies and business may have a more difficult time adapting to the use of e-checks if they have always done business the same way and never faced any problems. Smaller companies often opt for paper check usage over setting up computer checking.
While reasons vary according to each company and their financial policies, most companies that offer services such as hair styling, plumbing, food, arts, and real estate use paper checks. Individuals and contractors who may have a variety of customers and bosses each day or week may see e-checks as a nuisance as opposed to paper in hand.
Paying With Salary Checks Offers Companies More Control
One of the biggest ways that companies can save on checks is by using e-checks for paying their employees. Not only can companies avoid check fraud or lose out on their employees’ time when they have to go to the bank to take care of their payment checks, but companies can cut down on costs related to bookkeeping and the time consuming process of writing checks, taking care of lost checks, and staying on top of the check fraud that can happen with the continual use of paper checks.
Maintaining an online record of salary checks also makes keeping track of financial transactions that much easier to handle and saves both employees and employers time and money. The cost of online checks is minimal, making them a worthwhile investment.
According to statistics, paper checks can cost up to around $2.00 while online checks may cost a mere .35 cents. The amount of money that companies can be saving by switching over to e-checks is worth any amount of time or investment they would have to put into the change. Employees often reap benefits by receiving salary e-checks and being able to avoid long lines at ATMs, processing them much more quickly and easier than regular hard-copy checks.
Avoiding fraud and keeping on top of your financial payment security is also another way to save loads of money on checks. Dealing with check fraud takes time and may cause you much more hassle than its worth.
Companies who are looking for ways to save more money, especially when it comes to their payroll, would be wise to start using e-checks. The benefits are multiple, and with technology a major part of the world’s way of life and business, it only makes sense to start going paperless in every way. It benefits the environment, saves money, and makes life easier for everyone all around. Save on checks by setting up the e-check service that is right for your company and be amazed at the results.
Readers, share your stories, tell us what you know in the comments below.