While they have become progressively less popular over the last decade, checks are still a valid means of making and/receiving cash payments subsequent to a transaction; the approximately 18 billion checks that are written yearly are a testament to this fact; their purpose range from salary to payments for incentives such as social security as well as personal checks.

What is a Personal Check?

Personal checks are generally regarded as checks that are drawn against funds deposited in your personal checking account.

In contrast to bank checks that are signed by a cashier and that warrant a direct transaction from the financial institution and are cleared quite easily, a personal check is processed from an account – they are usually not guaranteed until they are accepted by the bank. And while the check is a promise that the money will be there when the recipient redeems it, whether hours, days or weeks later, they are risky for the person accepting them and depositing to their account. The payment doesn’t come out of your account immediately, as it would if you paid using a debit card. Instead, the check must be presented, processed and accepted.

Regardless however, personal checks are best suitable for everyday transactions such as shopping, or making small payments for goods and/or services – some small businesses don’t accept credit or debit cards. If you prefer to stay disciplined with your spending, checks or cash can also be a better choice than plastic

Why is it Difficult to Cash Personal Checks?

Personal checks are considerably riskier than government issued checks because they are dependent on the finances available in the writer’s account, which cannot be determined unless the check is processed. The checks also pose a risk to cash if/when the writer  has either bad credit, or a reputation for issuing bounced checks.

Besides these, there are a few other reasons why personal checks may not be redeemable;

• Lack of Proper ID

A means of identification is often required to verify the individual to whom the check was issued; this is perhaps the only means with which banks protect themselves against fraud, as anyone at all can present a check with claims to it.

A government issued identification card such as a driver’s license or a passport is often preferred and widely accepted.

• The Check was Not Made Payable To The Right Person

It may happen that the issuer of the check writes out one name on the check and the receiver may have it deposited into an account not bearing  the name written on the check, perhaps as a result of haste or plain carelessness – this will cause the check to be automatically rejected, except in the case when the check is deposited into a joint account of which the individual is party to.

• Indications Of Fraud

Banks often inspect the checks for tell-tale signs of fraud such as alterations, smears, stains or discolorations on the check that are indicative of foul-play; any such indications may lead to a refusal to redeem the check.

• Improper Signatures

It is made abundantly clear by banks that a variation in the signature of a customer renders their documents null and void. Checks are no different. If the signature on the check does not tally with the signature associated with the bank account from which the check is meant to be cashed, it definitely will not be honored.

• Wrong Dates/Misspelling Errors

Seemingly minor details such as the date written on the check holds enough sway to withhold the check, as an earlier or later date might be indicative of the fact that the check is either invalid or not due to be cashed.

Misspelling errors in the name of the recipient also adversely affect the checks validity.

Where Can You Cash a Personal Check?

The best way to cash any check whatsoever is to use a checking account. However, this is not particularly exciting news for the nearly 8% of Americans who are living ‘unbanked’ (i.e. with no bank account whatsoever), the second  most viable alternative to a checking account would be to go to the bank where the writer has the account from which the check is issued – and quite easily the bank can  see whether or not funds are available and immediately update the account.

Besides banks and credit unions, there are a few other ways to cash personal checks –

• Local Check Cashing Businesses

There are probably a list of local check chasing businesses available in your local pages – proceed by calling them to inquire about the fees charged to cash a check as well as required documentation – typically, you will be required to submit one or two forms of identification such as a drivers license, passport, workID badge, and perhaps a credit card with your picture on it.

All check cashing businesses charge a small fee, so doing a small research on those locally available may allow you find the one with the most favorable rates.

Subsequent to verification of your identification and the check’s validity, most local check cashing businesses will have you receiving your money in a matter of minutes as opposed to the three to five days with some banking institutions.

• Nationwide Chain Stores

These stores provide check cashing services with requirements that are quite similar to local check cashing businesses – however, because of the risk of personal checks bouncing, there are limits to the amount of funds that can be made available by them, they include –

• Kmart

Kmart cashes personal checks for up to $500, and their fees are only $1, with exceptions under a few varying conditions. Kmart stores are available nationwide.

 

• Giant-Eagle

Giant-Eagle cashes personal checks, but with the condition that you must either apply for or have a Giant-Eagle Advantage Card to be able to cash checks.

• Publix

To cash a check at Publix you must provide a drivers license, state-issued photo identification, or military identification.

• Ralphs

Check cashing fees at Ralphs range from $3-$5.

A number of others also exist including; Costco, Copps, Bj’s Wholesale club, Albersons etc. each with specific requirements that ensure security of both parties.

Cashing personal checks doesn’t have to make daily life a challenge. You will find that using our guide the process will be hassle free and seamless.

 

 

What is a Check?

When checks first came into circulation, most people had barely gotten used to the idea that they could entrust their hard-earned money to complete strangers in the name of ‘banking’ – and so, the singular thought of involving these ‘small pieces’ of paper in transactions, and trusting them as a means of payment was simply mortifying.

It was not until the late sixties, when a group of business men in Boston adopted the use of checks in a publicly transacted business arrangement that it gradually begun to ease slowly into the consciousness of people that checks were there, and they had come to stay.

Lately though, the use of checks appears to have plummeted in the U.S. drastically – but even with the decline in its use, it still ranks among the top 4 preferred systems of business transactions and is used for about 19% of all purchases.

So, what is a Check?

A check is simply a piece of paper or a document that carries the instruction for the payment of a certain amount of money to its bearer – or more simply, a check is a document in which the writer orders his/her bank to pay the bearer or receiver of the check a stated amount of money.

For example, if John writes Jane a check of $5, the check is the document that informs John’s bank of his intention to give Jane $5 of the money available in his account, and in turn, Jane may decide to collect the money, or instruct her bank to accept the money on her behalf and credit her account.

In any case, the check may only be redeemed by the bearer (which in this case is Jane) – unless otherwise stated, and the check can be for any amount.

In the use of checks, the parties involved are; the drawer (the bank, or institution where the money is located), the drawee (the individual who writes the check) and the payee or bearer (to whom the check is written).

How are Checks Gotten?

Checks are considered to be an accompanying document for ownership of a bank account. Thus, when a person opens an bank account, they are entitled to a check book (which is simply a book of blank checks given to an account owner) with which they can make and receive payments, to and from said account.

Usually, the bank with which you open an account may make a check available to you at a small cost, but there are other means by which you can obtain, personalize, print or order checks.

Our article on ‘cheap checks and where to print them‘  gives a thorough account of where and how you can obtain checks.

Read it here (Insert Link)

What are the Different Types of Checks?

There are different types of checks – each of them vary based on their features, functions, the requirements that must be met before they are redeemed, their limitations and the dates before and after which they are considered void or stale (i.e. invalid).

• Personal Checks

A personal check is a kind of check that is directly linked to your checking account.  (a checking account is a type of account that is used mostly for financial transactions and is different from a savings account in that savings accounts generally have a limit to the number of transactions you can make per month while checking accounts provide ease for an unlimited number of transactions)

Personal checks have the name of the recipient and the amount of money the check is worth written on it, and simply represents a promise that when the recipient redeems or cashes it, that the money will be there; and they remain valid until the date on it is exceeded by no more than 3-6 months – however, the time limit varies with different financial institutions, and unless it is stated otherwise on the check, most rebate checks say they are only valid for 30 days.

Also, while there is no legal upper limit on a personal check, nor any bank imposed limit per say, practically usually dictates that larger amounts than $250,000 be transferred electronically – normally, funds above that amount in a checking account are not insured by the FDIC anyway.

Personal checks may be obtained from the bank where your checking account is domiciled; some banks are known to give these for free, while others charge a small fee – however, a few other check printing companies provide services such as the personalization, bulk order and printing for personal checks at a decent price as well.

Read our article on them here ‘cheap checks and where to print them’ (Insert link)

• Bearer Checks

This type of check is also called a ‘bearer draft’.

It is often suggested that all checks are bearer checks where you can just see the words; “pay to………………or bearer”.

However, when the words “bearer” is simply canceled by a line, it is considered an order check, and in this case, the banker has to identify the person redeeming the check, as the person whose name is indicated on the check.

Otherwise, when the word ‘bearer’ has not been canceled, the check is automatically payable to the bearer or the presenter of the check – no identification is necessary; however in normal banking practice, where the amount on the cheque is substantial, the identity of the person may be insisted on.

Thus, the major feature of a bearer check is that it can be negotiated or passed to another person by mere delivery. So the holder (or transferor), need not endorse the check.

A bearer check is valid for no more than 3 months after its written date after which it becomes stale.

These kinds of checks are notorious for being very risky since they can be cashed by anyone at all, even if they are lost and picked up by a random stranger.

• Certified Check

A certified check is a kind of check that represents a banks written acceptance and acknowledgement that the check issued is genuine and that there are sufficient funds in the issuers account to honor the check when it is presented for payment – this kind of check is signed by the issuer and the bank.

The whole purpose of a certified check is to ensure that the recipient of the check is covered for any risks of the checks bouncing and has guarantee that the bank will make the full amount available when the check is cashed.

If the check has been certified by the bank by mistake however, the bank corrects the error by cancelling the error and notifying the payee; i.e. if they haven’t already acted in reliance on the certified check.

Certified checks are typically void or stale after 60 days – after the number of days have elapsed, the bank withdraw s its certification and cover.

Certified checks are typically used in larger financial transactions when paying with cash is impractical for buyers, and accepting payment by a regular personal check can be risky for sellers.

• Cashier’s Check

A cashier’s check is a type of check that represents a draft drawn on the bank itself, wherein the bank agrees to honor the check when it is presented for payment.

It is often confused with the certified check but is different from the certified check in that in the cashier’s check, it is only the bank and not customer that signs the check. This means that the bank is liable to pay the check, while the bank sets aside funds from the customer’s account to reimburse itself when the check is cashed – and in contrast to the certified check, you could seek remedies immediately and directly against the bank is there is a problem with the payment of the cashier’s check.

Cashier’s checks are considered official checks – and thus, their validity is determined by the length of time stated on the check and affected by the States Abandoned Property Laws – i.e. the state where the check is issued from; and thus the check is only valid for the time period based on the particular state, and unless otherwise specified on the check (which may span several years after issuing), the check may be escheated to the state.

They are also called ‘treasurers’ or ‘managers’ checks and are a much less common way of payment, but are significantly safe.

• Bankers Draft (Bank Draft)

A banker’s draft (also called a bank or teller’s check) is a check that is provided to a customer of a bank for the purpose of remittance; that is drawn from a bank and drawn by the bank or made payable through/at a bank.

That is, while a normal check represents an instruction to transfer a sum of money from the issuers account to a payees account, a bank draft is a guarantee of the availability of the underlying funds because it is drawn upon or issued by the bank – they are not very common in the United States as they bear many similarities to a Cashier’s Check, and those are used instead.

Obtaining bank drafts requires depositing funds equal to the check amount and the applicable fees with the issuing bank – the bank creates a check to the payee, drawn on the banks own account.

They are valid for no more than 3 months after the issuing date.

• Travelers Check

A Travelers check is an easy alternative to hard currency. While it is not necessarily money, it is considered so as it is a piece of paper/ document that is bought from a bank or a travel company and that can be used as money or exchanged for money in various countries.

They are considered prepaid forms of payment, and are an easy replacement for the general norm of carrying large sums of money, but were much popular before the advent of ATMs and ATM cards.

Traveler’s checks can be obtained in various currencies and denominations and are accepted as a means of payment in most establishments that are frequented by tourists and traveling business people; they can also be insured against loss, theft or damage, thus providing security to the owner.

While some sellers of travelers checks suggest that it is permanently valid; the idea remains to be seen, as their validity can also be influenced by the policies within the institution that is expected to redeem it.

How to Make Out a Check                  

Writing a check is a both basic and necessary skill for anyone; it is important however to treat the process critically especially since errors and irregularities may lead to the check being flagged as potentially fraudulent.

In no particular order, a check should contain the following details;

• Current date/ Date to redeem the check

The date written on the check should either be the date when the check is written or the date when the check is meant to be redeemed (postdated check) – other dates may be considered suggestive of fraudulent activity and render the check void.

• Bearers name

The check must either carry the payee’s name, or a third party indicated by the payee to whom the amount stated would be disbursed following a verification of the identity of the bank – usually aided by the identification documents presented by the individual.

• Amount (in numeric form and in words)

The amount of the payment should be written both in numeric form and in words to avoid alterations/ fraud. It is also suggested that the amount be written in all capital letters, which are harder to alter.

• Signature

The signature of the writer/account holder must be legible, without this the check will not be considered valid.

• Note/Memo (optional)

Additional notes may be necessary, depending on the purpose of the check or the amount stated – larger amounts may be cause for concern for the account manager.

How to Cash a Check in the US

There are a multitude of ways by which a check can be cashed, depending on the check type or the convenience of the bearer. They include –

• The bank; from which the check was issued
• A retailer
• A prepaid card
• A check-cashing service

A few other factors to consider when cashing a check may include, the cost of the service (as most check-cashing services, including banks, charge a small fee per withdrawal), and the length of time it might take to process the check and redeem the stated amount.

 

 

 

 

CHEAP CHECKS – WHERE TO PRINT THEM ONLINE

If you are reading this then the scales have probably fallen from your eyes and you have realized that the best place to order checks is not from your bank; shocking! So you are looking for a place to print cheap checks? You are on the right website. We have gone through many of the cheap checks printing companies out there and narrowed the options to just 5.

You may wonder why someone would want cheap checks if they have so much money. Well, little dollars add up. why would you want to pay $24 – $45 for checks when you can get the same quality of check for much less? All you have to do is google cheap checks and this page gives you all you need. When next you write a check in will not be on overly expensive check.

 

Factors to Consider When Choosing an Online Check Printing Company -Cheap checks

• Security

The decision to give out your private banking information to an online check printing company is very delicate – and must be treated with as much weight as the decision to make an online purchase.

It is important to read reviews of the company so as to get insight on their reliability and integrity before making hasty decisions.

One easy way to tell if you’re ordering checks from a reputable company whose products meet basic security standards is to look for a little padlock icon on the right side of their checks under the “amount” box, if the padlock is there, then both the check and the company itself have been vetted by the CPSA (Check Payment Systems Association).

Once you are sure of the security you consider if what they are offering is cheap checks. It shouldn’t cost too much to pay money.

• Cost

Printing checks online can save you up to a third of the cost of checks than what you would spend at the bank – as a matter of fact, well known retail stores like Walmart who do online check printing, often do it for almost dirt cheap. These stores usually have membership programs that offer special discounts where members can save an additional 10 – 20% off every order.

• Customer Support

While Great prices are helpful, they aren’t always enough. You must keep in mind that certain issues may arise that demand attention, thus the need for reliable customer service. This can be examined by taking thorough look into the customer feedback of the company; past customers have nothing to lose by telling the truth about their experiences.

By taking all of these things into consideration you will find the whole process far faster and easier, enabling you to start to order checks online with complete confidence.

Other things are important in online check ordering services as well and they include;

• Design selections
• Personalization options
• High security check options

Ultimately however, finding a service that gives you the best options is paramount to ease and convenience in many aspects so we have drawn up a list of recommended check printing solutions aid your selection;

Cheap Checks Printing Companies Online 

1. Check Advantage

Check Advantage is a leading check printing service of both business & personal checks since 2001 which offers impressive security features and a variety of unique designs created by different licensed artists that you will otherwise not find with its competitors.

Their packages also include a wide array of check styles and related accessories for both the personal and small business checks. The company also provides security features that meet all the CPSA requirements – these include special paper, design and special ink. Their services also include a number of perks too numerous to mention, and if next time you are ready to order checks then you can quite conveniently place orders of your check for large collection of checks of Check Advantage.

Official price: $7.95

2. Checks In The Mail

For both personal and business checks, Checks in the Mail offers great customization options and styles as well as strong security features for your account’s safety making it one of the best online check services. With over 200 check patterns, it has something for everyone featuring numerous customized design options which allow individual businesses to add their logos and other individual touches – it is the ideal check printing solution for personal and business use.

Official Price: $6.99

3. Carousel Checks

Carousel Checks are a business, personal, computer and laser check service provider. The company was founded in 2003 and offers a wide variety of checks such as custom photo checks, quickbooks, laser voucher checks, value priced checks, licensed artist checks, and so forth. The company also offers one of the most guaranteed customized check services that are additionally included with security features. With the help of these checks customers can effectively express themselves with animated designs, scenic prints, inspirational topics or anything else

Official Price: $4.89

4. Checks Unlimited

Checks Unlimited has earned a reputation for superb fraud prevention security features. However, it doesn’t offer a wealth of design options compared to other check printing companies.

The company however meets all the CPSA security requirements and provides an affordable option for businesses, particularly for returning customers and those who order in high volumes, they also offer a host of additional business supplies including sheeted address labels, covers, address stampers and RFID wallets which protect your checks against the electronic skimming.

5. 4 Checks

4checks.com does not offer business checks but collaborates with another company called Checks Unlimited by directing you to its website

What they do offer is more than 600 unique designs, excellent security features, competitive pricing and free shipping. They also have a number of attractive promotional deals for those who purchase more than one box. The company also creates checks from your personal photos. All of which comply with CPSA security regulations.

Official Price: $15.95

Our Top Online Cheap Checks Printing Company

While all of the online check ordering services on our lineup are solid choices, finding a service that gives you the best options for check type, font, pictures and background to reflect your professional life or whatever event is on your mind might seem a tough job – I would recommend Check Advantage – for their excellent service line up as well as the remarkable feedback, not to mention the reasonable cost that reflects the true focus of the company. However, it is possible with our reviews, to make an independent choice, and with any of these service providers you can have both cheap and unique checks.

Well, basically due to the immensely increased personal and business activities all around the world, demanding the use of checks in transactions, it became essential to offer competitive yet friendly and productive check printing services to the customers – especially for those in the market for extra checks who don’t quite have money to buy them. Gradually, businesses and individuals are exploiting the assistance of check printing services with the help of which the functionality of their businesses and personal transaction has become more interactive, productive in the most convenient manner.

Ordering checks online are no hassle in comparison to the alternative – it can even get quite entertaining with the additional options you have to customize and personalize your checks. Beware however, that check printing solutions also require that you share your confidential banking information with these companies – thus  a lot of factors must be considered before taking the plunge;

REASONS YOU SHOULDN’T WRITE A BOUNCED CHECK

So, you’re a little stuck.

Your checking account is already used to hovering slightly above a zero on a regular basis, but this time it is slightly worse.

You do not have enough on your checking account, there is no available credit on your cards but you absolutely have to make one more payment before payday – which is probably only a few days away…

Since payday is only a few days away you pull out your checkbook, cross your fingers and write a check.

Bad move.

Sure, according the law, intent is almost more meaningful than action. Mistakenly writing a check that will bounce is very different than knowingly writing a check that will bounce and while Simply owing a debt is not considered criminal, proffering payment that is not actually valid is considered defrauding the person you are trying to pay; and frankly – what is a truer measure of intent than action?

But just in case you do not have quite the overactive conscience; enough for the argument of ‘intent’ and ‘integrity’ to hold sway, here are a few more reasons not to write a bounced check (even if your heart is in the right place)–

• Your Bank Won’t Be Particularly Ecstatic

Usually some banks are merciful enough to consider paying a bounced check and issuing an over draft fee – but that is if you’re lucky. Otherwise they will return the check, and if a similar issue reoccurs, you’re likely to have your account shut down and reported to Chexsystems who will make it difficult for you to open subsequent accounts, even elsewhere.

• Your Credit Report Will Take a Gentle Blow

While a bad check may not necessarily show up on your credit report or lower your credit score  there are databases that track bounced checks (Including Telecheck or Chexsystems). A bad record in those databases, means difficulty writing checks elsewhere and even though these databases are not part of your FICO credit score, which is the score used for most important loans like auto and home loans, but they might be used in “alternative” credit scores and If the check was for a loan payment, your credit is more likely to suffer.

• You’ll Pay for Not Being Able to Pay

Quite the irony right?

For starters, you’ll pay fees to your bank: overdraft charges or non-sufficient funds (NSF) fees which might amount to up to $35.

You are also likely to pay a fee to whomever you wrote check to; they get dinged for depositing bad checks, and they’ll pass those charges on to you. And after a check bounces once, your payee might try to re-deposit the check to see if you have funded your account. If not, expect to pay even another round of fees

 

• Criminal Charges That May Haunt You Forever

Cases of bounced checks may be prosecuted and these charges could be filed either as a misdemeanor or a felony – depending on the prosecutor’s choice.

If it’s filed as a misdemeanor, you could be looking at up to one year in a county jail and a maximum fine of $1,000 in some states.  As a felony you could be looking at get to three years in jail and a maximum fine of $10,000.

There are possible civil penalties as well. The payee (that’s the person or company that you wrote the check to) can sue you for the amount of the check in addition to damages of up to $1,500.

 

Rather Than Write a Bad Check…

• Balance Your Account

Keep an updated track of your account balance. This translates to knowing how much you have and how much every payment will bout to leave your account at all times (including both pending payments and outstanding checks).

• Keep a Small ‘Shock-Absorber’

Sometimes it’s not enough to plan thoroughly and hope for the best, consider going the extra mile and leaving a little something in your account for ‘just incase’.

• Consider Over-Draft Protection

If all else fails, consider overdraft protection. If you use it as a safety net (as opposed to relying on it for cash-flow) you’ll rarely pay overdraft fees, and the plan will not be as expensive as it actually is.

And whatever happens, prudence is the sure-fire solution matters of this nature.

Yes. Even the best of us have days when we are tempted to delve into immediate solution to combat these wearying money problems; so, if you have considered writing a bounced check – no prejudice at all.  Is it really worth it though – If one solution is only an invitation to bigger problems?