What Are Checks Used For

You might think paper checks are a thing of the past, but believe it or not, they still have some uses. From down payments to large purchases, setting up automatic payments, and more, learn just how valuable a personal checkbook can be.

Do People Still Use Checks

Yes, they do! While paper checks aren't as common anymore, they're still used for various reasons. They are, in some cases, easier than digital payment methods.

Advantages of Personal Checks

• Ease of use
• Convenient
• Widely accepted
• Proof of payment (built-in receipt)
• No fees

Down Payments and Large Purchases

Personal checks come in handy if you need to make a down payment on something big like a car or house. Checks are a secure way to send money, and you have the added benefit of a paper trail showing that you made the payment. Since it's essentially a built-in receipt, you can go back into your transaction history and prove you made the payment and that the company cashed the check. You can also write an account number or other identifying information in the memo line to show what your money was intended to go towards.

Set Up Automatic Payments

If you're setting up automatic payments, you might be required to submit a voided paper check. This is to make things easy for you and the company because the routing and account numbers are clearly listed on your check. This helps to prevent typos and helps make for a smoother setup process.

Direct Deposit

Just like setting up automatic payments, a voided check is sometimes requested to set up direct deposit. Same reasons for setting up automatic payments, but with a little higher stakes, since money is coming to you rather than being taken out of your account. If you're like us, you want to avoid any delays, and a voided check helps make the process smoother for everyone involved.

Pay Rent

If your landlord or property management company does things the old-fashioned way, you might write a check for rent instead of doing it through a portal. Writing a check is simpler and still trackable, plus it's clear what the check is for compared to confusing transaction or company names that might appear on your statement. Writing a check ensures you have a written, clear record of payment which can be critical if disputes come up.

Pay Contractors, Service Providers, and Vendors

Similar to paying rent with a check, paying contractors, service providers, and other companies with a check provides a clear record. This might be services like home repair, cleaning, and landscaping, among others. And, if you write a check, you can put a stop payment on the check if you need to, and you still have the paper trail for your records.

WaFd Bank is Here to Help

No question is too small for our friendly bankers! With WaFd Bank, you also have access to tools and services to help you manage your finances and get the most out of your money. We even offer *Free Checking with no minimum balance or monthly maintenance fees, access to thousands of fee-free ATMs, and more! Visit us at your neighborhood branch, give us a call at 800-324-9375, or check out what WaFd online banking has to offer.