Many of us write bank checks to do our daily business. If you're like me, you prefer writing checks to carrying cash. For me, I like to be able to see where every penny went and bank checks help me to do that.
Between bank fees and the cost of bank checks, the cost adds up over time. Many bank customers are paying anywhere from $5.00-$15.00 in bank fees alone. Bank checks cost anywhere from $15.00-$20.00 per box, and
that's if you don't get the overpriced, fancy bank checks.
At our local bank I was paying $15.00 for one standard box of plain, simple bank checks. As a member of my local Sam's Club I received a mailing advertising Sam's Club bank check printing services. I was amazed at the price of $10.70 for two standard boxes of bank checks. This low price included free shipping and a choice of three rather standard bank check patterns. That is a cost of $5.35 per box, a savings of $9.65 on each box.
You do have to be a Sam's Club member to purchase bank checks at this price. If you are a business owner, a basic membership is $35.00 annually. If you are not a business owner, the cost is $40.00 annually.
You don't have to live near a Sam's Club to take advantage of their services. On-line sign-up is available as well as shopping at their website ( www.samsclub.com ). It's free to browse the site and learn about member benefits, but only members can make purchases.
The initial bank check order can be done over the phone or in person. You can order refills over the phone, in store, or by mail order. It does take one to two weeks to receive your bank checks, a bit slower than some other sources. But for the savings, it is well worth the wait.
The bank checks are the same quality as the bank checks your local bank's check printing service by mail provides. You may also order checkbook covers, address labels and other stationary. Personally, I think these products are not as good of a deal as the bank checks are.
Costco also offers a bank check printing service for it's members. I am less familiar with their services, since we don't have Costcos in our part of the country. On Costco's website ( www.costco.com
) standard personal bank checks are $9.15 for two standard boxes, including shipping. If you have a Costco executive membership, the price for two boxes of bank checks is $7.32 shipped.
Costco basic membership is $50.00 annually, Costco executive membership is $100.00 annually. Like Sam's Club, if you wish to shop at Costco and don't live near a store you can sign up and shop on-line.
A word about the more expensive "designer" bank checks. It's easy to be suckered in by the cute designs that are more attractive and more "you" than the standard, plain, cheaper designs. Maybe for some people it makes writing out their monthly bills more pleasurable, seeing the face of Mickey Mouse on their checks. Remember, that the people you are writing the bank check to don't care if the bank check is cute or not. What they care about is the bank check being for the correct amount, to the correct person and not bouncing. Don't fall for the hype of designer checks they are a huge waste of money.
Especially be wary of the ads for a "free" box of bank checks. This "free" box of bank checks is often not free. You are often required to buy a box of bank checks at a greatly inflated price. Even if you're not required to buy additional boxes of bank checks, take a close look at the rate for your replacement box of bank checks. You will often find that the prices for a fancy box of bank checks makes the standard bank cost of $10.00-$20.00 per box look cheap by comparison.
Many people think that their bank requires them to buy bank checks from directly through the bank. I know I believed this for years because I thought that was a condition of my free checking account. Most of the time, this is not a requirement. And if it is a requirement at your bank, you might consider looking for a bank that provides better service.
It always pays to shop around for the best bank. Some offer free checking accounts and others charge $9.00-$15.00 per month for a checking account. Some banks automatically sign you up for a high priced checking
account. I have found that they don't always volunteer their free checking account programs, you have to ask them about it. Also be sure you are earning a competitive interest rate on your savings accounts and certificates of deposit. At some banks even your checking accounts can earn interest. Shop around for your bank like you would shop around for any other product. Do your homework and make comparisons to find the best deal.
Remember, every penny saved adds up in the big picture. We don't often think of comparison shopping for buying bank checks or even choosing your bank. Through habit, or mistaken beliefs that we a required to purchase our bank checks through the bank, we end up overpaying greatly. Often we use the same overpriced bank for years, just out of habit. If you've never shopped around for a better bank, you owe it to yourself to do so. You may be very surprised at how much money you can save and even how much you can earn in interest.
Now, I'm not saying that you should join a shopping club just to buy bank checks. Personally, we find that Sam's Club more than pays for itself on general purchases. Not everything sold in warehouse stores is in huge, unusable quantities. Many regular, or slightly larger, quantities are available for grocery and household items.
The secret to effective warehouse shopping is to know what your regular Wal-Mart or local grocery store charges and compare it to the Sam's Club or Costco prices. You need to be able to do the math. Sometimes you are cheaper buying multiple smaller sizes rather than one large shopping club sized product. Not everything is cheaper at a warehouse store, some items are even more expensive. Sometimes you do save more by buying in bulk and sometimes you don't. Remember when buying food items in bulk, that you can properly store or freeze many items and use them as needed.
We find that when Sam's Club is cheaper than the local grocery, they are significantly cheaper. There are also many unusual, hard to find items that are available at warehouse stores as well as good values on regular food items. For example, we find that our local Sam's Club has better prices and better quality meat than most of our local grocers. But in turn, we find that for canned goods we save money buying smaller cans in the store brand of our local grocer.
Warehouse stores can also be very tempting places to overspend. This is pretty much an area where every family has to evaluate their shopping needs, budget and ability to discipline their shopping habits.
If you are a member of a warehouse shopping club, be sure to look into the other areas in which they offer savings and discounts. Sometimes these savings are significant and a good deal, other times they are not.
Remember it's always free to ask and check on their rates.
To name just a few examples of savings, discounts and perks from warehouse shopping clubs such as Sam's Club or Costco:
-Travel discounts on hotels, rental cars, airfare, cruises, resorts, etc...
-Discounts on medication, medical and dental care
-Many business services such as printing and mailing services.
So if you choose to join a warehouse shopping club, remember to take full advantage of all the ways they can save you money. Remember, you've already paid for it in your membership, so you might as well use it. Be sure to check out their great prices on bank checks.
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