Why do banks still issue cheque books?

[Niyi]

In a world where banking has been fully automated, why would some people still use cheque books to cash their money?

I have seen in banks that people still own and use cheque books. Why do the banks still issue cheque books to CUSTOMERS? And why are people still using it?

 

[Kane]

I can't say about other countries but in my home country, digital transaction costs money, where as check book transactions are free.

 

[Starmix]

Checking accounts are also done here in my country, in fact, I have my checking account. I can issue a check to my friends who want to borrow money for a start-up business for example and they pay me with small interest until they fully paid.

 

[Vehli]

Banks cannot stop issuing cheque books because there are many transactions that are made through cheques. My company still pay the suppliers through cheques.

 

[Salt]

These are still used by companies to pay their employees and for payments since it's used as proof of payment and there are many reasons why these are still in existence.

 

[Starmix]

Checking account is usually done in my place of paying people and or transacting businesses. But sometimes risky, because there are also bouncing cheques.

 

[Vehli]

Checking account is usually done in my place of paying people and or transacting businesses. But sometimes risky, because there are also bouncing cheques.

These cannot be scraped by banks as still many people are dependent upon these cheques for payment and is a reliable way to pay.

 

[Niyi]

I had to ask my banker friend and he told me that Banks still issue cheque books because they provide customers with a secure and convenient way to make payments, especially for large transactions, that can be easily tracked and reconciled.

 

[Starmix]

@Spider , that is right and a checking account is part of banks' services, especially for big-time businessmen. It is easy for them to issue a check to a client for payments. It is better that way for it is safe and there is assurance that money is there once withdrawn from the bank or deposit it to your account.

 

[Niyi]

@Spider , that is right and a checking account is part of banks' services, especially for big-time businessmen. It is easy for them to issue a check to a client for payments. It is better that way for it is safe and there is assurance that money is there once withdrawn from the bank or deposit it to your account.

For the generation Z people, they don't value this cheque book of a thing. I personally prefer the digital method of banking. That chequebook of a thing is lethargic.

 

[Vehli]

@Spider , that is right and a checking account is part of banks' services, especially for big-time businessmen. It is easy for them to issue a check to a client for payments. It is better that way for it is safe and there is assurance that money is there once withdrawn from the bank or deposit it to your account.

This is why it cannot be scrapped by the banks as it's used to pay and is a safe and professional way to pay employees and other businesses.

 

[Starmix]

This is why it cannot be scrapped by the banks as it's used to pay and is a safe and professional way to pay employees and other businesses.

Actually, I disliked payment through a check. One time, I was a victim of a fraud check. When I went to the bank to deposit the money into my bank account, it said there was no money in it. The person was still at large until this time. She paid through a cross-check.

 

[Salt]

Banks cannot stop issuing cheques and still there are many payments that are issues via cheques only

 

[Good-Person]

Banks cannot stop issuing cheques and still there are many payments that are issues via cheques only

I think that banks use cheque books because they are still traditionally used and they cannot make it obsolete.

 

[Riberet19]

Banks cannot stop issuing cheques and still there are many payments that are issues via cheques only

Yes, I think it is a payment method still widely used by banks and companies to stop using them so easy from day to morning, but I think that little will be used less or stopped being used

 

[saoussen57651]

In a world where banking has been fully automated, why would some people still use cheque books to cash their money?

I have seen in banks that people still own and use cheque books. Why do the banks still issue cheque books to CUSTOMERS? And why are people still using it?

There is nowadays electronic check and it is trace of payment and payment delivered is scanned by app that reserves money for this purpose and then if it is passed then you could complete the payment otherwise the payment is rejected.

 

[Starmix]

That is part f the banking services. There are depositors having big businesses who like to open a checking account. That is why a checking account is always available in a bank.

 

[saoussen57651]

That is part f the banking services. There are depositors having big businesses who like to open a checking account. That is why a checking account is always available in a bank.

The electronic check could resolve the problem of the account monitoring funds but paper check doesn't do this staff and leads to prison for unsuffisance of funds to pay out merchant when he deposit check.

 

[Salt]

I think that banks use cheque books because they are still traditionally used and they cannot make it obsolete.

Its not about traditional and actually there are many payments that are made through cheques and companies prefer to pay them via Cheque only and is a proof of payment too

 

[Good-Person]

Its not about traditional and actually there are many payments that are made through cheques and companies prefer to pay them via Cheque only and is a proof of payment too

Well, I think that this is the main reason why it is still called "traditional method". I think that there are many people who use many other types of payment methods nowadays.