Why do I need that many checks?
By suspenseful
@suspenseful (40193)
Canada
June 28, 2009 7:30am CST
Because of the house renovations, I have to transfer monthly so much from my checking account at the CIBC to our joint checking account at the Credit Union that is a mile away. My bank is less then half a mile away and I have always used it and I have my Canada Pension in that bank. Now most of my payments I make by debit or credit card and I ran out of checks of that account and I have different bank that I pay by check and at the most it is 14 checks a year. So why do I have to order checks at the CIBC? Because the transfer is going through the Credit Union and it will be free, but if it were through the CIBC it would be around $40. But the checks ordered will cost about that much - well a little less and why? Because the minimum amount is 100. So why do I need 100 when 50 or even 20 or 10 will do?
So do you suppose it would be better that banks give a lower minimum number of checks to order seeing that now a lot of people pay by debit card and many stores do not accept checks?
2 people like this
5 responses
@suspenseful (40193)
• Canada
28 Jun 09
The only reason I need checks is to pay my tithe each month and to have a record for the income tax deduction and to write for a charity that I need proof of. And as for other things, I will pay cash, but I guess now I have to write checks instead of cash to get rid of them, the checks that is, not the other things.
1 person likes this
@dragon54u (31636)
• United States
28 Jun 09
I get my checks for free, too. I pay most of my bills with them but still, 100 checks will last me about a year. Here, most companies charge you for paying with debit cards so even if the checks cost me, it would be cheaper to pay by check.
You would think, with them making checks by just inputting info into a computer these days, that the checks would be much less expensive! It's not like they have to change anything on a printing press anymore. It's just another way for them to make money.
2 people like this
@suspenseful (40193)
• Canada
28 Jun 09
In Canada, once you reach 55 or in some banks 60, you can pay by debit and it does not cost you anything. But until then you have to pay a fee and that also applied to checks, and since a lot of places do not accept checks except to pay their statement, there is no need to order 100 checks.
Well I hate carrying cash around, so I will find out if when I order something from our church, or pay my fees for choir, if they will accept checks. So instead of 14 checks a year, it will become about 20.
1 person likes this
@mtdewgurl74 (18151)
• United States
29 Jun 09
I ran out of checks for my account as well and I have not reordered any of them and it has been over a year. I didn't really use the checks at all. Mostly once a month. I don't have a debit card though since I never keep enough in the bank anyhow,usually less then a $100 so I don't think I should have to pay over $20 for checks when I don't really use them and most the time they are trouble..like when someone knows a person has them and wants you to write a check..this way I have no worries..
1 person likes this
@suspenseful (40193)
• Canada
1 Jul 09
I keep most of my money in my high interest savings account, and usually I transfer money from my checking and just leave enough in it for daily expenses. I also hate writing checks out as I have to record it not only on my financial software, but also on the checkbook itself.
@danishcanadian (28953)
• Canada
28 Jun 09
I am not moving anytime soon, and i didn't change my name when I got married, nor did I change my title, so my checks have looked exactly the same for the past 7 years, with all the same information on them and everything. When I re-order checks, I order 100. Then I don't have to re-order them for almost a decade. LOL
1 person likes this
@suspenseful (40193)
• Canada
29 Jun 09
I ran out of my old checks about a year ago, and had not ordered any since. I also opened an account at another bank and ordered checks from them, but I had not closed my old account since I had my visa with it. The only reason I had to order checks from my old account was that it was still open and I got my Canada Pension through them and my husband wanted me to transfer so much each month to the credit union automatically. Now I have to change everything around.
@ladyjinggay (76)
• Philippines
29 Jun 09
Wow, that is quite to many. Perhaps 25 or 50 would be okay. Besides most people nowadays are not using checks often. Well, we will just have to accept their policy but I do agree with you that they should lower down the minimum amount of checks to make it appropriate for most people.
@suspenseful (40193)
• Canada
1 Jul 09
When the checks arrived, they were in a paper envelope and a mesh bag so that no one would suspect they were checks and steal them. That is 100 for $35.00 and that includes tax. Twenty would have been plenty for me.
