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Here's What Really Happens When You Bounce A Check

To some, physical checks are simply a relic of a bygone era, yet to others, they can be an important element of a person's financials. From utility payments to birthday card additions to various deposit needs, physical checks have many uses that can't necessarily be replicated in the digital world. In fact, 55% of Americans reported writing a check at some point in 2022 and 59% of millennials and Gen X reported writing a check in the last six months.

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Here's What Really Happens When You Bounce A Check
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    Here's What Really Happens When You Bounce A Check

    Here's What Really Happens When You Bounce A Check

    To some, physical checks are simply a relic of a bygone era, yet to others, they can be an important element of a person's financials. From utility payments to birthday card additions to various deposit needs, physical checks have many uses that can't necessarily be replicated in the digital world. In fact, 55% of Americans reported writing a check at some point in 2022 and 59% of millennials and Gen X reported writing a check in the last six months. While checks can be useful in managing your finances, bouncing a check can lead to costly repercussions.

    How To Fill Out A Money Order Correctly

    How To Fill Out A Money Order Correctly

    Money orders can be the perfect alternative to paying with a check. They're both incredibly similar as they are forms of paper payment that can be specifically written out to an individual or business. However, unlike a check, a money order doesn't contain your personal information such as an address, bank account, and transit number. Also, a money order is paid by you immediately with cash or debit, unlike a check where the funds would be debited from your bank account retroactively upon the receiver accepting the payment.

    Here's How To Properly Void A Check

    Here's How To Properly Void A Check

    If you're using your checks for payment or as a way of giving your banking information to a reputable institution, there may come a time when you need to void it as well. For example, any mistake made to a check, such as misspelling the recipient's name, adding the incorrect date, or writing the check for the wrong amount, could be reason enough to want to scrap it and start over again.

    The Easiest Way To Get A Cashier's Check

    The Easiest Way To Get A Cashier's Check

    The use of paper checks for the purpose of payment has long since been on the decline in the United States. A once popular form of payment that used to be acceptable anywhere, from grocery stores to major department stores, paying by check has shown a steady drop in use. Consider, in 2000, nearly 42.6 billion checks were used compared to 14.5 billion in 2018, according to a diary study via the Federal Reserve Bank of Atlanta.

    How To Write A Check Correctly

    How To Write A Check Correctly

    Whether you're paying your monthly rent or handing in a deposit on a new car, chances are you're going to have to know how to write a check. Especially in the United States where this seemingly outdated practice is still used in full form, it doesn't look like you'll be packing your checkbook away any time soon. Unlike other countries around Europe, like the Netherlands, Poland, Denmark, and Finland which have long since ditched the practice of manually writing checks, Americans have hung onto this method of payment with the average U.S citizen writing upward of 38 checks a year, according to The Verge.

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