Consumers love checks…
and so should you.
Smart businesses are accepting checks,
now more than ever. Here’s why:
Accepting checks pays...big.
Remember first century B.C.? Okay, probably not. It’s believed that’s when checks made their first appearance in ancient Rome.1 However, if you think paying by check is ancient history, think again.
The facts tell a whole different story.
Read on for details!
Checks are still a strong part of the consumer marketplace.
Checks are very popular among consumers.
Millions of U.S. consumers have checking accounts, but do not have a credit or debit card.2 More than 9 in 10 U.S. consumers have a checking account.3
with Checking Accounts
In its latest study, the Federal Reserve reports over 18 billion checks being paid with a total value of $26 trillion.4
If money talks, checks are making a huge statement.
Virtually 100% electronic6
Paper has gone digital.
Processing paper checks is much like riding a bike. It’s great, but most of us move on to something speedier. Checks have joined the digital revolution.
Don’t miss out on a sale!
Let your shoppers pay as they please. Drive purchases by offering more payment options, including checks, and avoid turning them away.
of small businesses agree that checks allow them to offer their customers more payment options.7
Checks are like money in the bank - your bank.
Shoppers + checks = cha-ching!
The average check amount is $150. And, the value of an average check is nearly three times more than the average credit card swipe.8 That’s a big difference that can really add up at the register.
Saying yes to checks means saying yes to bigger sales.
Checks can float.
While checks can’t float like a cloud, they can, and do, give consumers breathing room in their checking accounts. Many take advantage of a check’s “float” period — the time between when a check is written and when it’s deducted from their account.
Check usage rises
40% before paydays.5
Checks provide shoppers with flexibility and convenience.
Checks make consumers feel safer.
Many consumers choose checks because they believe checks are less susceptible to fraud than payment cards.10
Electronic check transactions are safer because fraud can be detected more quickly.
Electronic check acceptance is much easier for merchants.
Savvy merchants prefer electronic checks because the processing can be completed twice as fast as traditional methods.
faster processing than traditional methods.
Check acceptance means happy customers and safe transactions.
TeleCheck makes check acceptance easy and safe for small businesses.
Stop missing sales by giving customers the option to pay by check
Lower costs with smaller transaction fees than other payment methods
Get paid faster with approved checks paid within 2 business days
Reduce risk with warranty service protection from bad check losses
Learn more at:
Give us a call anytime - we’d love to hear from you.
- Wikipedia, “Cheque,” citing Will Durant (1944). Caesar and Christ: a history of Roman civilization and of Christianity from their beginnings to A.D.The story of civilization 3. New York: Simon & Schuster. p. 749.
- Federal Reserve Bank of Boston, 2014.
- 2013 Federal Reserve Payments Study. Over 18 billion checks were paid in 2012, with a value of $26 trillion. Checks paid include those presented in paper or electronic form, but exclude checks converted to other forms of payment, such as ACH.
- TeleCheck analysis of transaction data, 2014-2015.
- 2013 Federal Reserve Payments Study.
- TeleCheck SMB Brand Awareness Study, April 2015 (Research by Lynx Research Consulting).
- TeleCheck Business Analysis, 2014.
- TeleCheck Business Analysis, August 2015.
- TeleCheck Consumer Brand Awareness Study, March 2015 (Research conducted by YouGov).