Skip to content
Tempus Nova
  • About
    • Our Story
    • Our Management
  • Our Portfolio
    • Our Blog
    • Our Vendors
    • Our Certifications
  • Solutions
    • Google Workspace
      • Workspace Enterprise
      • Workspace Business
      • Workspace Essentials
    • Google for Education
      • Education K-12
      • G Suite Higher Ed
      • Google Classroom
      • G Suite for Education
      • G Suite Enterprise for Education
    • Google Chrome Enterprise
    • Google Cloud Platform
    • Google Meet
    • Google Voice
  • Support
    • IT Support
    • Data Migration
    • G Suite Tutorials
    • Cloud Assessment
    • Deployment Support
  • Products
    • Novus
    • Hardware
      • Jamboard
      • Chromebooks
    • novaAnalyzer
    • novaSignature
  • Contact
    • Contact
Site Search
Blog

Financial Adulting: Transactions You’ll Use Checks for in Adulthood

  • March 3, 2021March 3, 2021
  • by Sofie Leidolf

Our rapidly changing world has come to depend on the ease of digital payment exchanges between consumers and merchants. Yet, a few unforseen road bumps have shifted the economic landscape, and check utilization is creating better opportunities for individuals, freelancers, and small businesses to cut costs and safeguard secure financial transactions. 

COVID-19 has been a gamechanger for the job market and businesses in particular. The slumping employment sector spiked the freelancers market, which increased the need for fee-less payment solutions and state-mandated closures heavily impacted business revenue. This caused credit card companies to take a good look at increasing merchant fees in an effort to recover from the financial crisis. 

The shifting business world means that low/no cost payment methods are needed now more than ever, and consumers should make sure that they have checks on hand to successfully complete the likely required payment processes this new era of being all grown up requires. 

 

The Return of the Check

In a world looking to recover from the coronavirus pandemic, the return of checks might just be what small businesses need to gain a competitive advantage in the oncoming economic bounceback. Small businesses make up 99.9% of the U.S. business pool, and with potentially rising merchant fees, the booming micro and small business segments being driven by millennials are looking for ways to diversify their payment options while keeping costs low. 

Along with processing fees, businesses must manage chargebacks, equipment fees, monthly minimums, associated software costs, and even statement fees. It’s no wonder why many of America’s small businesses may make a massive migration away from traditional credit card payments and pursue lean yet trusted payment options such as checks. 

 

Paying by Check May Help You Avoid Extra Processing Fees

In the post-pandemic era, businesses will be sitting down to mull over how they can optimize their spending, and tossing out credit card processing services for a cash or check only policy might be a significant money-saving opportunity for vendors. Companies may also add their own transaction fees or markup items to help cover costs and break even. Consumers should be aware of extra credit card charges that come their way as well. Memberships and pay-to-use fees can easily be missed on credit card statements and cash exchange apps. For those that don’t enjoy ferrying wads of cash, carrying a checkbook instead will help consumers avoid extra fees without worrying about losing untraceable banknotes. 

 

Checks Are a Safer Way to Pay for Large Transactions

Using a check is a safer way to spend and is useful in conducting large purchases such as buying a house, car or paying other large sums. There are also a whole host of businesses that accept only checks or cash, like contractors, landscapers, government entities, or private schools. Paying by check also allows funds to be tracked and is an excellent way to keep a record of spending and monitor what bills have been paid. 

Adding a checkbook to your complete set of payment options will ensure that all bases are covered when it comes time to spend. Using money orders and cashier’s checks can be both costly and time-consuming, so making sure to have a checkbook on hand will help to cover all pertinent transactions adulthood requires.

Headquarters &
Mailing Address

​Tempus Nova, LLC

7800 East Union Ave
Suite #850
Denver, CO 80237
877.379.7376 Toll Free
303.379.1791 Facsimile
DUNS# 050417943

Southeast Regional Office

5425 Peachtree Parkway NW
Suite #156
Norcross, GA 30092
877.379.7376 Toll Free
404.855.1116 Telephone
404.601.1391 Facsimile

Northeast Regional Office

79 Madison Avenue
8th Floor
New York, NY, 10016
929.428.4992 Telephone

Company
  • About
  • Contact
  • Contracts
  • Our Story
  • Our Vendors
  • Privacy Policy
  • Our Certifications
  • Our Management
Solutions
  • Training
  • Google Voice
  • Google Meet
  • Managed Services
  • Migration Services
  • Cloud Assessment
  • Google Workspace
  • Google for Education
  • Google Cloud Platform
  • Business Transformation
  • Google Chrome Enterprise
  • Google Workspace Business
  • Google Workspace Essentials
  • Google Workspace Enterprise
Products
  • Novus
  • Jamboard
  • Chromebooks
  • novaAnalyzer
  • novaSignature

© 2021 Tempus Nova, LLC.