Internet Checking Accounts and Paper Checks

Several internet checking accounts that pay the best interest rates don't allow paper checks. Three of the five that I mentioned in my recent post on the best internet checking accounts have this restriction. These include checking accounts from Incredible Bank, Clear Sky Accounts and ING Direct. An option is to use the bank's online bill pay. The bank will mail the check if the payee doesn't accept electronic payments. However, this isn't always a convenient option if you need to write a quick check to someone.

There are a few internet banks that allow paper checks. In fact, Ally Bank even provides free paper checks. For reward checking accounts, I can't remember any that don't allow paper checks. I think they realize that if they want customers to use these accounts as their primary checking account, they can't restrict paper checks.

I have a feeling most people want a checking account with the option of writing a paper check even if they write very few paper checks. I would also guess that most people can live without writing many checks so they would be okay if the bank placed a limit on the number of paper checks per month. An example is up to 4 free checks per month and a $1 fee for each paper check above 4.

Poll Question

That leads me to a new poll question for the day: How often do you write paper checks?

This does not include electronic checks or online bill pay. This is physically writing a paper check from your check book.