How I Stay Away From Checks

Nowadays, I try to stay away from checks as much as possible. In fact, the checks that came with my checking account are buried in my desk drawer because I never use them anymore. If you are wondering how to avoid checks all together, here are some ways of how I avoided this ancient technology.
Direct Deposit
This is very common as the majority of employers will push for paying everyone’s salary this way. Direct deposits are quick and automatic. Not only does it avoid the transit time of a check through the mail, the bank will generally not need to hold onto the money since there’s less fraud going on with direct deposits. This means money from direct deposits are available for withdrawal on the same day it’s made.

Wire Transfers
Unlike direct deposit which uses the ACH process and is specific to United States BANKS, wire transfers are accepted globally. The down side is that wire transfers are much more expensive for us, as the initiating bank and the receiving bank will both charge fees for this process.

Paypal, Moneybookers and Other Internet Payment System
With the growth in popularity of the internet, systems such as Paypal has transformed how we send and receive money today. Just to give you an example, a majority of my business is done through Paypal because of its convenience for myself and my customers.

As with wire transfers, Paypal has some pretty steep fees as it charges a high percentage, but the convenience and the ability to automatic get payments from customers is an advantage that many of us appreciate and is willing to pay for.

Stop Those Checks

Checks served a purpose for many years but it’s time for it to retire. The added convenience, reliability and speed of its alternatives make checks look like something of the past. If you would like to simply your life, join me today and stop using checks.