Duplicate checks have both pros and cons. For example, they are easy to use and offer offline access to records, however, they are more expensive and becoming increasingly uncommon.
Of course, due to the availability of online payment services, online loans with no bank account, and debit cards, paper checks are becoming less and less common, but many people still use them to manage personal and household finances. However, when ordering paper checks, the consumer is usually offered two options – single or duplicate checks. Learn the basics about paper checks before you put yourself in front of a choice.
What is the use of paper checks?
Of course, in the modern world, people prefer to make payments electronically, which is why many companies have stopped writing and using paper checks altogether. Electronic payments are considered more convenient as they do not require carrying paper checks with you, writing them out to someone, and so on. Also, payers no longer need to worry about whether the check will be redeemed.
However, paper checks still have a number of benefits to consider. For example, paper receipts are much easier to track. Thus, the payer has the ability to monitor his accounts and determine when the check was cashed. Also, if there are any problems, then the one who paid by check will be able to document when the check was cashed. It is also important to note that some companies do not accept credit and debit cards. Despite the fact that such companies are becoming less and less, they exist. Also note that utilities may also charge fees for credit card payments (but at the same time, they accept paper checks without any extra payment).
Single vs duplicate checks
As mentioned, paper checks are sold in books of single or duplicate checks. You are probably familiar with the traditional single checks – this is a simple checkbook that you can use when you need it. Duplicate checks pair each paper check with a piece of printed carbon paper that can’t be torn from the pad (unlike the paper check). Thus, when the payer writes a check to someone, all the details are imprinted on the carbon paper which remains in the pad. Thus, each time a person writes a check, he is left with a paper copy, which includes all data such as date, check number, payee’s name and amount.
Having a duplicate check allows you to see how much and when you spent, to whom the check was issued, and so on. However, please note that all information will be saved on the duplicate as well as on the receipt, except for your signature. This is to prevent a thief from copying your signature if your checkbook is stolen.
Where can I buy duplicate receipts?
As you can see duplicate checks is a very convenient option since you have the ability to track your finances and have proof of when and to whom the check was issued in case of any problems. However, where can you buy duplicate checks?
Your bank’s website or its branch will have a catalog of checks. By viewing it, you can purchase checks for your account. Thus, it will not be difficult for you to find duplicate checks and you can also ask all your questions to the bank employee.
What are the advantages and disadvantages of duplicate check?
- Ease of use. You don’t need to think about how to create a copy as it is created automatically when you press down on the handle. This way you will always know to whom and when the check was issued.
- Records convenient for you. Since the duplicates are necessary for you, you can include in them as many details as you want and as much as you need for your convenience.
- Price. Duplicates are often more expensive than single checks, depending on your bank or check provider.
- Security threat. If someone steals your checkbook, they will get a lot of personal information about you.