advantages of using a cheque as a means of payment

11 Advantages of using a cheque as a means of payment

  • It is less tiresome to write a cheque than counting large sums of money.
  • It ensures accuracy of payment since mistakes made in counting large sums of money are avoided.

  • It is a safe method of payment since it cannot readily be stolen and used by a thief more so when it is specially crossed.
  • It acts as a record of payment since the details of payment are recorded in the counterfoil for future reference.
  • It acts as a proof of payment because when payment has been effected by the bank, it is cancelled to evidence that payment has been done.
  • It is easier to carry a cheque than carrying large sums of bank notes and coins.
  • It can be used to pay many employees at once by using one cheque through credit transfer system.
  • A crossed cheque can be sent safely through the post office compared to cash hence debts can be cleared by posting a crossed cheque to a creditor.

  • It can conveniently be used to effect deferred payments by issuing a post dated cheque to a creditor.
  • It is easier to store a cheque than cash since cheques take a small space.
  • Payments can be stopped where fraud is discovered by the drawer instructing his bank not to pay.


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IAM experienced geography teacher with more than three years of teaching and creating content related to geography and other subjects for both high school and college students. hope you will find the content of this website useful to your studies and daily life

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