Why Businesses Use Credit Cards and Debit Cards Instead Of Cash

Why Businesses Use Credit Cards and Debit Cards Instead Of Cash

When someone at the checkout counter gets out a checkbook and a pen to pay the cashier with, everyone just looks hopeless. Yet, nowadays where almost everything is done thru electronic payments, checks which take precious time to collect seem already outdated. It is a mere fact that checks are obsolete means of payment as you go shopping. Most especially when you try to look for a certain wallet which holds check registers for your particular checkbook.

The checking account and the checkbook facility that it rests on are easily on its dying days nearing its end. Banks are preparing to phase the check concept out in a few years. One thing is for sure; those checks will be gone along with the baby boomers. What reasons do retailers have the decline checks? First In the first place, they send up the costs of managing check fraud. And of course, they save money by not needing to add more checkout counters to ease rush hour when lots of customers are holding lines up with their check writing.

Who would've thought that lots businesses which are primarily beaten up by the global recession are into something likely irritating to most of their clients? To the businesses however, saving money on the cost of supporting the checkbook, checks and all, works out to be a more tempting option. This certainly is catching on. Fashion retailers such as Banana Republic and the Gap are on trial runs to eliminate checks from their systems too.

Do you wonder who on earth it is that writes checks, because it seems like such an unnecessary thing? Studies showed that no one else but the elderly people are the ones who are fond of writing on checks. Anyone younger than that is obviously completely comfortable using credit cards, debit cards and cash. Only five years ago, checks were completely and firmly entrenched. It's down to 4% of the population now for the number of people who going to use them on a regular basis.

Gas stations, small restaurants, boutique shops, all of these, these days go with a little sign at the till that says "No checks please." Their reason for unfavoring checks is because of the check's tendency to bounce. Although, fraudulent purchases using a stolen debit card may still be charged on the debit card owner, these retail stores still get their money. One thing also is that, retail outlets are charged $3.50 for check encashment, while debit cards only cost you some pennies. And about the cost of transporting checks in to the bank? Even cash payments cost money at present. It's all part of the transition to cheaper more efficient methods. And it's something to be happy about.

But then again; there are still certain bills which need to be paid by checks. Buying those checks online saves about 50%. One can use discount personal checks printed directly by manufacturers who print discount checks further lowering one's overhead. Choose from more check styles than any bank or financial institution has to offer by shopping on the internet. You can also order personal check styles of your own concept like simple plain checks, scenic mountains, seascapes, your favorite sport or hobby, patriotic, pets, your favorite baseball, football or sports team, college, autos, motorcycles, trucks, funny to fine art and just too many categories to list. Buy personal checks online and save yourself up to 50% off bank account rate charges.

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