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Many of you may wonder why some people refuse to accept checks as a method of payment and why some are willing to accept it in exchange for goods or services rendered. Perhaps, knowing about the advantages and disadvantages of checks may help answer the question. In addition, knowing about these may help you build strategies on how to offset the disadvantages and exploit the advantages.What is a Check?First of all, what is a check? It is one of the traditional methods of payment that uses a paper document which orders a bank to pay the sum or amount indicated on the face of the check to whoever is the check’s bearer. The bearer or the name that appears on the face of the check is the only one who can receive the money order provided that he or she presented the right identification cards and documents.Uses of ChecksHere are some possible reasons why check payments are widely accepted:Safer way to pay as one doesn’t have to carry cash; safety problem is paramount especially if it involves a large amount.It is a trusted form of payment provided that the check is funded. It is the check account holder’s responsibility to see to it that it is funded and will not bounce.You can pay in advance as one can issue postdated checks and serves as a guarantee that there is indeed payment to occur at the date stated in the check.Advantages of Check PaymentsAs a method to pay, it enables people to make necessary payments without necessarily carrying a huge chunk of cash. It is easy and convenient to use too as one just indicates the name of the payee, the amount, date of check, and signature; there’s no need to find a swiping machine to validate payments. People also appreciate the fact that it can be sent through courier; thus, enabling payment transaction between the payor and payee which cannot be possible with cash as you need to visit to the bank in order to send a payment if you want cash.Disadvantages of Check PaymentsOne of the most glaring disadvantages with regard to checking is that there are numerous establishments that do not honor this method as it takes time to convert it to cash; thus, credit and debit cards are more acceptable. Other disadvantages include the following:The appearance of important details like account name, account number, bank, address of account holder and bank which are relevant data that hackers or identity thieves will love to get.It can easily be tampered; hence, it can lead to a fraudulent transaction.

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Thus, it demands special attention from the check holder and payee to inspect the check which is quite inconvenient in some cases.With these ideas in mind, you might have a change of heart regarding accepting checks as payment for goods or services rendered. But do not worry, you can always have alternative forms of payment other than cash like a debit or credit card.Photo credit: Flickr