Before 1950, checks were a very expensive commodity and only a few select banking customers were offered them. In those days, banks were used to keep savings and payments were made using cash only. However, as business activity started to increase, these businesses have had to increase their productivity and offer more competitive rates. The result is that they came to understand that printing business checks for banking made a lot of financial sense.
Why Printing Business Checks for Banking Works
A business owner often prefers a check because they have a lot of transactions to make. Checks offer convenience, particularly in large volumes. They can be printed with a laser printer and, thanks to new software, everything can be printed in one go, from the logo of the business to the magnetic ink character recognition (MICR), and from the signatures to the characters laced at the bottom of a check. These characters are very important, as they include such things as the check number, bank transit, and account number. So long as a check has been printed properly, the bank can process them automatically, thereby also reducing their overall costs.
It is common for businesses to use computers to create their checks, but to track them as well. By using a laser printer to create the checks, auditing and record keeping is done automatically at the same time. There are specific check forms that have been created specifically for laser printers and those are not highly affordable. Only one form is needed and it can be used on all accounts.
Non-impact printing technology and electronic publishing is also available and is particularly important for those who require MICR printing. So long as this is fully automated using a computer, there is no more need to pay for expensive MICR printers when a job changes and old stock is wasted. Instead, the business makes significant savings that can be pass directly on to the customer. What this means overall is that printing a computer check is no more expensive than printing a personal check. Plus, MICR software can function on most of the common operating systems.
A business check is now almost always printed using laser printers because it has been demonstrated that this is the most efficient printer for writing checks. Businesses all over the world have been able to save a significant amount of time by automating this process, thereby making them more productive overall. Producing checks, once upon a time, was incredibly expensive, which is why it was so rare. Today, however, the process is almost fully automated and therefore highly affordable and quick to complete.
It is important, however, to understand exactly what your needs are in terms of check printing before signing up to any program or purchasing any type of printing software. Not all checks are created equally and it is also very important to speak to your bank in terms of finding out what they will and will not accept. They may have a specific template that you need to follow, for instance.