This means you can promptly pay someone while still having a little breathing space before the money leaves your account. Paying electronically usually means funds move from your account to the recipient’s pretty much instantly whereas cheque payments take at least a day or two to process. You can even mail it to them if, for example, they come and paint the exterior out of office hours. There’s an added benefit in that you can leave it for them in an envelope, which is much more secure than leaving ready cash. Perhaps you’re reluctant to pay them cash, so a cheque is the best solution. For example, maybe you use the services of a small-scale painter and decorator and they’re not able to take a card payment. If so, taking payments by card may be problematic or even not possible. Maybe you are a small business yourself or use the services of very small or even one person concerns.
So, when in daily life are paper cheques still required? 1.
#CHEQUEBOOK OR CHEQUE BOOK SOFTWARE#
Indeed companies providing accounting software and related financial documentation are committed to paper money transaction methods as they continue to apply new tech such as producing high-tech paper cheques with advanced security features to prevent tampering, illicit copying and fraud. Not quite a cashless societyĭespite sometimes-wild predictions about when the UK and the rest of the world may become a totally cashless society, businesses certainly still use paper in terms of cash and cheques. Here is five reasons you may still need cheques and why as told by Patrick Vernon. Even though many people might not now use their cheque books very often, with money changing hands electronically in commercial environments, for the most part, the paper cheque does still play a part in money transactions in both business and for private individuals.
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