Proof of payment – Checks create a paper trail or a physical proof that you made a payment to someone. Every time you write a check that ends up clearing your account, there will be a number of records of it. Having this proof is useful for tax purposes (especially in the case you make tax deductible charitable donations) and anytime you are paying a person or a firm by mail. on your bank statement, in your checkbook, a carbon copy in the case you were using duplicate checks, a printable back and front picture of your cleared checks online available at a virtual Branch (on your PC),and a picture of your check kept electronically in the bank’s files for an unspecified period of time.- Safer than cash – If you order items by mail, paying by check is can be safer than cash. Cash may be taken and spent by any person without leaving a trace. The paper trail a check always leaves strongly discourages such money theft.
- Cheaper than money orders – Personal checks are cheaper than purchasing money orders or cashier’s checks – even on checking accounts with extra charges.
- Lots of access options – There are many ways to easily access your checking account that other sorts of accounts don’t offer.
- No transaction limits – Checking accounts do not have Federal limits on the number of e- transfers you can make each month. Other types of savings accounts usually have transaction limits.