Bulk check writing and printing are additional, further savings when you use a check writing company. It is possible through this tool to send multiple payments to many payees at one moment from a single account. When money is transferred this way, you will only see one debit in your bank statement and the bills are paid!
This practice keeps costs low, but you should be aware that this practice has limits. To process your checks this way, there are often some volume minimums to be aware of to make bulk processing worth doing.
Costs of Bulk Check Writing
Whether you send out hundreds or thousands of checks a month, you can lose more money than you realize to unnecessary in-house expenses like materials, postage and delivery, plus bank fees. Checks you send out can cost a significant amount per check before you even add in labor. Bulk check writing can be a good way to reduce your operational expenses in this area.
The economy of this larger-scale printing and digital processing can be significant. Equipment costs are not needed, this is taken care of this for you faster and on time. Employee costs are reduced or eliminated. Discounts can also be available for sufficient volume needs.
Flexibility is high with check writing companies because this is their primary business and they are willing to customize their service for your financial needs. When you use a check writing service, your life becomes more streamlined and costs can be reduced more than you think.
Whether your company is small or large, you are likely to save costs and time by using a check printing company. Finding the right service for your needs is well worth it. Look for the right solutions package for you!
Below is a list in the summary of some advantages and disadvantages a check writing service offers:
- Automation of checking and payroll distribution
- Reduced effort and time in-company or individuals with no time
- Secure, cross-checked bank transactions to reduce fraud
- Electronic, same-day transmission of on-time funds
- Reduction of bank fees and delays
- Ability to print and send completed checks from your location if desired
- Costs and inconvenience of ordering checks, manual check completion
- Tracking for fraud and identity schemes, auto-match bank transactions
- Bulk transactions to further reduce costs
- Loss of physical control to out-sourcing of payroll, bills
- Good tech support is key for changes of service, problems
- Initial effort to customize and streamline check process
- Can have higher fees for customized service
- Some services compatible with U.S. banks only
- Customer service may be 24/7 or less convenient hours
- Compatibility issues can occur
- If you choose to print your checks, some of the savings are lost
- Additional fees for their custom service can add up
You can see many reasons why check writing companies are becoming so popular. They are so convenient! They offer quality support and reduced costs. You may want to look into this option!