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I pay by check for most purchases including groceries, clothing and services. Writing checks helps you track purchases better and helps budget your funds for spending and saving. I also use a debit card only for fueling and dining at non fast food entities.
How? My debit transactions automatically get logged into Mint (which I can access from my phone). It also automatically pots the transaction into my budget category whether it is fast food, groceries, restaurants, gas, mortgage, utilities, auto repairs, etc. I have hundreds of transactions per month with my debit card and I only have to re-categorize maybe 1 or 2. Other than that, it does all of the work for me. I even get alerts if I am coming close to a specific budget for a month.
I can also see all of my transaction history for any specific retailer or any category to see how my spending has changed. I can see if I have increased my spending on any category over a specific time period. It even includes graphs to make it easier to visualize.
It is a good question and an easy question to answer. When you write a check, no one can be out in the parking lot with an electronic device taking down your pen so they can steal everything in your checking account. My husband installed those debit machines when they first came out and he told me not to use them. I use them anyway. And I am old.
I think they have been improved since they first came out. He even uses them now. But you really need to hide your finger when you are putting in your pin. There are just too many crooks out there so we all have to be careful.
He likes me to write a check because we have duplicate checks and he uses that to keep up with our checking account. I have been know to lose receipts.
There are also people who "wash" checks and can put any information they want to on the check.
Just wondering is all because it seems like extra work for the buyer. And of course, I'm being a bit nosy. But that's why I'm asking anonymously on the boards and not hasseling perfect strangers about their financial business .
I prefer check writing. I already have the check filled out before I get the the register, so all I have to do is write in the amount. Plus, it's easier to keep track of my balance this way (I use duplicates).
My mom still pays everything by check and in my job I see people paying by check almost daily. I'm not bothered by the extra minute it takes someone to write a check as opposed to using a card. I agree with the poster who said that if we can't sit still and wait for something that takes a minute (and remember, this doesn't happen all the time just occasionally) then we've really got a problem and that should worry us more than not getting to go thru the line INSTANTLY..
A check is no slower in the grocery checkout line if pre-filled out while waiting (minus the total) versus swiping a debit/credit card where one has to stab debit or credit, a pin number, signature if required, cash back? red or green button?, cancel for credit?...etc etc
I went to the grocery store yesterday. It was under $50. All I did was swipe my card. No buttons, signature, pin, or anything else. A 2 second swipe and I was done.
My mom still pays everything by check and in my job I see people paying by check almost daily. I'm not bothered by the extra minute it takes someone to write a check as opposed to using a card. I agree with the poster who said that if we can't sit still and wait for something that takes a minute (and remember, this doesn't happen all the time just occasionally) then we've really got a problem and that should worry us more than not getting to go thru the line INSTANTLY..
Exactly, and all the high-tech bobbleheads who are so proud of themselves are apparently at the front of that line. Or, oh wait...is that further back in line perhaps?
We use Bank of America because:
I was able to turn OFF the overdraft protection all together. Their cut of time is 8PM for deposits. And since we ONLY use debit cards, (as we only have 1 account and no additional sources of money), if there's no balance available the account is set to decline it immediately. So nothing gets through if there are no available balance. We only have 1 automatic bill that charges the same day of each month, so no surprises there. I hate automatic bills because some companies have it set where they charge every month on the same day, BUT others charge whenever; Esurance was like that, and we canceled it and found someone we can pay ourselves.
Thankfully our management company takes rent payments online so we completely eliminated the need for checks. I HATE checks with a passion because they never charge on time, and take FOREVER to clear. I hate that. If something requires "check" or "cash" we always take cash out...
When Wachovia was still around, they screwed us up big time...because a paycheck was overlapped by the time zone between Eastern Time and Pacific Time which was what they were using, so the paycheck went in, we saw it, we were traveling to DC by car, and stopped to get something to eat at Chick Fil A, and since we saw the balance posted, we didn't think much of it. We went to DC, came back to FL and when I looked at the account online I saw several overdraft charges...here's what happened: paycheck went in Eastern Time, (at that time we had bills that drew automatically), they all did the same day as they were set, we spent our money with that trip, our budget was going to leave us after gas, food and hotel with about $100, BUT because the bank DID NOT register that the paycheck went in cause of the Pacific Time 3 hour difference (this is what the rep told me when I called) they charged an overdraft fee for EACH transaction we had.....so by the time we got home we acquired like 9 overdraft fees!!! when each transaction was budgeted for. At that time, (2006) we didn't know we could STOP the overdraft protection, nor I think they gave that option. Needless to say that we disputed each and everyone of them, and closed out account with them.
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Originally Posted by cyrano View Post
Here's some questions for those of you who enjoy the speed and convenience of your debit card--
Do you know, without having to go online, what the balance is in your checking account (or whatever account is the source of your debit card funds), today?
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Originally Posted by cyrano View Post
Have you overdrawn that account? Do you think not knowing how much money is in that account contributed to the overdraft?
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Originally Posted by cyrano View Post
If you have overdrawn the account, what were the consequences? If the bank charged an overdraft fee, do you know how much? Usually it is $35
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Originally Posted by cyrano View Post
Do you keep additional money in that account to avoid the consequences of overdrawing your account?
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Originally Posted by cyrano View Post
I'm really curious about these things. I'd give up checks tomorrow if I could get a real-time report from my bank of my account balance.
I find it interesting how some people think that the additional 30 seconds, or even a minute, that it might take someone to write a check is the end of the world as we know it. I agree that, yes, if that's enough to make you upset, you have bigger problems than standing in the grocery store line an extra minute is going to cause you.
The merchant upthread explained it quite well, I think - those of you who are using debit and credit cards are COSTING HIM MONEY and it's a courtesy to you for him to accept those. Those who use checks are SAVING HIM MONEY and thus saving you money in the prices that have to be charged to cover our convenience in using those cards. Or would, if we weren't so insistent on using those cards in the first place.
As for the person who said "Get with the times," you need to remember, karma is a b***h and the day is going to cone (yes, really, I promise you, unless you die first) when some punk of a kid is going to be saying the same thing about you. No matter what you think now. Just because you prefer to do something a certain way doesn't mean that the entire world has to jump on board just to shore up your personal preference, no matter what it is.
For the record, I pay by debit card for almost everything - write checks for about 3 things monthly to businesses I use regularly that don't take cards. So it's not that I'm defending my own personal check writing habit. I also don't care about, and don't feel it is any of my business, how others choose to pay for the things they purchase, and I expect the same consideration in return.
& using checks is taking away our oxygen too! = PAPER...
If "checks" were saving them money, then how come everyone is asking for credit/debit???
Sam's gas station does not accept checks or cash. Im guessing they're not looking to "save" any money then!
So is the "pay bills" from banks, most don't do that automatically through wire, they STILL send checks=paper out. I fail to see how anyone is "saving" anything here.
Its a "new society" for sure (and NOT a smart one): we pollute with Plastic, and Deplete of Oxygen with the constant use of paper.
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Originally Posted by TexasHorseLady
Those who use checks are SAVING HIM MONEY and thus saving you money in the prices that have to be charged to cover our convenience in using those cards.
I find it interesting how some people think that the additional 30 seconds, or even a minute, that it might take someone to write a check is the end of the world as we know it. I agree that, yes, if that's enough to make you upset, you have bigger problems than standing in the grocery store line an extra minute is going to cause you.
I wish it took 30 extra seconds when someone writes a check. The only check writers I see are the ones who wait until the cashier is completely done and then starts looking through her purse for her check book and then finding a pen. She carefully closes up her purse and sets it down in the cart. Then she discovers that her pen doesn't work. She complains about the quality of pens and how they don't last any more. Then she pulls her purse back out, forgets how the clasp works again. The cashier offers her a pen, but she waves her off because she "has one here somewhere". She finally gets her pen out and asks "What is the date?" "What was the total?" Then she finally writes the check and writes it all in her register and balances her checkbook and puts her checkbook back down in her purse before handing the check to the cashier. The cashier looks at it and says "Ma'am. This is Publix and your total is $12.68. You wrote this check to Shell for $18.62. Then we start the same process all over again.
Now add this woman to the person in front of her that has to pay cash and are coming up way short and have to keep deciding items to put back and then waiting for the manager to unlock the transaction. Then you have the person who pays with a debit card, but stares blankly at the machine for a full minute and then says "I am supposed to punch something in here?"
I was stuck behind all of these people an more at the store the other day. I was very short on time because I needed to start Thanksgiving cooking after working all day. There were 4 people in front of me with very few items. It took over 30 minutes to get through the line. That was 30 minutes I did not have.
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Originally Posted by TexasHorseLady
The merchant upthread explained it quite well, I think - those of you who are using debit and credit cards are COSTING HIM MONEY and it's a courtesy to you for him to accept those. Those who use checks are SAVING HIM MONEY and thus saving you money in the prices that have to be charged to cover our convenience in using those cards. Or would, if we weren't so insistent on using those cards in the first place.
Credit cards cost merchants a lot more than debit cards. It is also getting more expensive for merchants to process checks than credit or debit. There are more fees involved. Check out the rates here: Merchant Account Rates – Merchant Services
So, while it is more expensive processing checks through them, I know that my last company encouraged us to ask for debit (punching in pin) over credit or cash. We didn't accept checks at all. The debit money was cheaper than either alternative (with our Merchant Service account) and we had access to it much quicker than either of the other forms of payment.
Plus, don't you have to pay when you get more checks?
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(and NOT a smart one): we pollute with Plastic, and Deplete of Oxygen with the constant use of paper.
