Are Cheques Passé ?

Undead Bank Service?

That is the discussion that arose after my odd rant about the cost of cheques from my bank. I had a few comments from folks who were astounded that I wrote that many cheques (150) in a year, but I can assure you it is not that hard to do.

• Somewhere close to 50 cheques are used up with offerings to my Church. Yes, I could use the direct withdrawal ability that the Church has, but it’s not quite set up the way I wish just yet (it only works once a month, I’d prefer to pay what I can every week).
• Every school activity asks for money these days, and teachers do not want children showing up at school with cash in hand, this adds at least another 25 cheques to the count.
• My sons school also has fundraising and book sales, again another 20 or so cheques written.
• The rest of the cheques are used to pay for various sporting team expenses. I also contribute to some charities. The remainder is for miscellaneous items.

That is about 150 cheques a year or so, which is astounding.

---

---

Rumors of their demise?

In my house the resounding answer to that query is absolutely not, however, in other houses maybe not as much.

My bank certainly is pricing cheques such that they don't want me to use them, if possible. I also got some excellent comments. They pointed out that many banks give their customers free cheques. PC Financial was mentioned by name. I do feel like quite the dunderhead for not getting free cheques. I vow here that next time I will ask for free cheques. As we know, at the Bank Everything is Negotiable.

It should be possible to not write another cheque, but is it practical for all of us?

Certainly many transactions still need a bank draft or certified cheque, like purchasing a home, or paying for a large price item (like a car). It is interesting that you can't seem to do this as a bank transfer, however, I am willing to hear otherwise (i.e. you can buy a house without having to have a certified cheque written to a lawyer or such).

Are Cheques Dead?

In Canada, the decline of cheques has been matched by the rise of faster, more secure digital payment alternatives. Chief among them is Interac e-Transfer. It allows individuals and businesses to send money instantly between Canadian bank accounts. Only an email address or phone number is needed. It’s widely accepted, available through most banking apps, and includes built-in security measures. For recurring payments, like rent or payroll, pre-authorized debits (PADs) and direct deposits have become normal, eliminating the need for paper trails and reducing delays.

Businesses and institutions are also turning to online banking platforms, wire transfers, and payment processors like PayPal, Stripe, and Square. These tools allow for both domestic and international transfers, as well as integration with accounting systems and invoicing platforms. Even government benefits and tax refunds are increasingly delivered via direct deposit. As digital solutions continue to improve speed, cost-efficiency, and traceability, cheques are being pushed closer to obsolescence—making the phrase "cheques are dead" more of a reality than a prediction.