*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.
Though I've switched to using my debit card more often than checks, there are still times when a check seemed convenient. Until a series of bad experiences convinced me to stop using checks altogether.
My Check Was Stolen
Paying my water bill with a check seemed like a good idea, because paying online meant I would have to charge the bill to my credit card. However, when a payment I sent was never received I was charged a late fee by the utility company. Worse still, when I logged in to my bank account I realized that someone had stolen my check, washed out the details, and filled in a higher amount and a different payee. My checking account was overdrawn by $600. Though my bank reimbursed me, I stopped using a personal check to pay my water bill.
I Lost My Check Book
On Christmas Eve I dropped my check book during my shopping errands. I spent an entire afternoon retracing my steps to track down my lost checks. Luckily, a store clerk had found the book at the toy store I visited earlier that day. None of the checks were stolen, but I learned my lesson all the same. I no longer use personal checks to make purchases.
I Signed the Wrong Check
Paying my home improvement contractor with a credit card check seemed like a good idea. I was able to cash in on the promotional rate associated with the check, and I could pay the contractor without having to wait for the bank to deposit the amount into my checking account. However, I carelessly signed the check myself, forgetting that the credit card was in my husband's name. The check bounced, and I had to pay late fees on top of the original purchase amount. Since then, I stopped paying with credit card checks.
My Check Order Never Arrived
Placing an order for two boxes of checks with my bank, I was surprised when only one box arrived. Since it was the second of the two boxes, I realized that the first went astray. A month later, the post office found the package and delivered it. But by that time I had been forced to cancel the checks (both boxes) and issue new ones, in case the original box was stolen. I wasted money needlessly.
I Ordered Too Many Checks
Ordering two boxes of checks with my phone number and address saved me money on a bulk purchase. But when our family was forced to relocate to a new state two months later, I had to throw away the checks and order new ones. Instead, I decided to stop using checks and switch to a debit card.
1 comment