Ordering New Checks for Your Business Is Easy
As a business owner, you have many options for issuing payments to service providers, contractors or employees. Many of these options are electronic, but you might still find you need to write paper checks sometimes because of preference or necessity.
Just as banking has become more digital, so have check ordering options. If you're looking for a quick guide for ordering new checks or getting checks from your bank, here's what you should know.
Options for ordering new checks
You can obtain new checks for your business in several ways. Here are some of the most common and convenient options.
Get checks from your bank
The easiest route is to order checks from your bank, either online or in person. If you have digital banking, you can either use their mobile app or website to place your order.
However, most banks contract this service to a third-party company, so you may be directed to their site to see style, ordering and shipping options. Keep in mind that this service typically isn't free unless you participate in some kind of customer loyalty or rewards program with your bank.
You also could call your bank to place an order or visit your local branch in person. However, with all the contactless options now available, it may be easier to order your checks by phone or online.
Use an online service
Several online check printing services are also available. One of the advantages of this route is that there may be more style options at a more affordable price than the third-party provider your bank has contracted with.
You also can comparison shop to see which provider best meets your needs. Some online companies even offer high-security checks with features like heat-reactive ink and anti-copy technology to prevent fraud.
Do it yourself
If you're wondering how to order new checks in the most independent way possible, you could use software to print your own checks from the comfort of home. This option takes more time and labor, but it allows you to customize your checks to your liking. In addition to the right software, you'll need special check printing stock paper, a printer, magnetic ink and a magnetic ink character recognition, or MICR, font to print numbers at the bottom of each check.
Though this option allows for more customization, it's more error-prone. Be very careful about how you print your checks, so they'll be compliant with what financial institutions use and accept.
Do you need paper checks?
Even with these do-it-yourself options, it might make more sense to adopt a digital approach to handle financial transactions for your business. You can use online bill pay features offered by your bank if you have an online account. You can also set up an online account with your service providers to make payments and track your billing history. Digital wallets, such as Apple Pay and Samsung Pay, are also useful and allow you to securely make payments from your mobile phone.
If either you or your vendors prefer a paper-based option, a cashier's check might be your best bet. Suppose you're making a down payment on a building or lease agreement for your business or purchasing expensive equipment. In that case, the other party may require this guaranteed form of payment. Cashier's check funds must be drawn directly from your account in order for a check to be issued.
Some banks allow you to order a cashier's check online, which they send to the payee directly. If this option isn't available, you'll have to go to a branch location in person to get a cashier's check. Just keep in mind that you may have to pay a fee to get this check. As a business, this can get costly. If you prefer to save money, online check ordering—either through your bank or an outside service—may be the best way to manage these financial transactions.
Financial insights for your business
This information is provided for educational purposes only and should not be relied on or interpreted as accounting, financial planning, investment, legal or tax advice. First Citizens Bank (or its affiliates) neither endorses nor guarantees this information, and encourages you to consult a professional for advice applicable to your specific situation.