Declining Use Of Canadian Cheques Follows World Trend
Since the turn of the century, there has been a steady decline of Canadian cheques being written throughout most of Canada and a decrease in usage around the world. As soon as debit and ATM cards were developed, the amount of payments processed with written cheques greatly decreased due to the quicker payment methods. Like most other countries in the world, Canadian cheques are being slowly replaced by more efficient and secure transactions through electronic means. Some payment systems are difficult to change and still require Canadian cheques to be written for such expenses like rent and utilities, though more and more places are offering online bill payment programs. Utilizing these programs saves people time and does not waste paper with the added bonus of not having to wait for a cheque to clear, so a person knows exactly how much money is in the bank account.