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Checks may not be used as often as they once were, but they’re still a useful financial tool to have on hand. You may need to write a check when making a large payment, giving money as a gift, making a charitable donation, paying a contractor or small business, or paying rent.

Many banks no longer automatically provide complimentary checks with every checking account. If you need physical checks, you may have to order them through your financial institution or a third-party vendor. The best option will depend on whether you prioritize convenience, cost, or having more choices in check designs.

Here’s what you need to know about the different types of checks, how to get checks from your bank, and what to consider when ordering checks online.

What Are the Different Types of Checks?

There isn’t just one type of check. Personal checks, business checks, cashier’s checks, and certified checks all work somewhat differently and can be useful for different purposes.

Personal Checks

A personal check is a paper payment drawn from your personal checking account. When you write a check, you authorize your bank to pay a specified amount to the person or business named on the check.

Personal checks generally include your name and address, your bank’s routing number, your checking account number, and a check number. You fill in the payee, amount, date, and your signature when you write a check.

When you open a checking account, you may have the option to order a checkbook. Depending on the bank and account, checks may be free or come with a fee. You can also reorder checks later if you run out or want to choose a different design.

Business Checks

Business checks work similarly to personal checks, but the funds are drawn from a business checking account rather than a personal account. They typically include the business name and may include its address, logo, or other identifying information.

Some business checks also include voucher or stub sections that make it easier to record payment details, such as an invoice number or expenses description.

Businesses may use checks to pay vendors, contractors, suppliers, taxes, and other expenses. Using a business checking account for these payments can also help keep business and personal finances separate.

Cashier’s Checks

A cashier’s check is an official bank-issued check that is drawn against the bank’s funds rather than directly against your personal checking account. To obtain one, you generally provide the bank with the amount of the check, plus any applicable fee (often around $10).

Because the bank sets aside or draws the funds when it issues the check, cashier’s checks are often used when a recipient wants a more secure form of payment than a personal check. They may be required for transactions such as certain real estate purchases or large payments.

A cashier’s check is different from a personal check and does not come in a checkbook that you can use for everyday payments. Not all banks offer cashier’s checks.

Certified Check

A certified check is a personal check that the bank has verified and certified. The bank confirms that sufficient funds are available in the account and may place a hold on those funds. The check is then marked as certified.

The main difference between a certified check and a cashier’s check is where the funds come from. A certified check is drawn from the customer’s checking account, while a cashier’s check is issued by the bank and drawn against the bank’s funds.

Getting a certified check typically costs between $10 and $20, depending on the financial institution and the check amount. Note that not all banks offer certified checks.

How to Get a Checkbook From Your Bank

The bank or credit union where you have your checking account is often the simplest place to order checks because it already has all of your account information. Depending on the financial institution, you may be able to order them through online banking, a mobile app, by phone, or at a branch.

The exact process varies by bank. For example, some banks let you select a check design and quantity after signing into your account, while others direct you to a check-printing company that handles orders on the bank’s behalf. Once you place an order, it can take anywhere from a few business days to two weeks for the checks to arrive.

While convenient, your bank may not be the cheapest place to order checks. A traditional bank may charge $30 or more per box, though they may cost less (or be free) if you’re a premium account holder. Some online banks and credit unions do not charge for ordering or reordering checks.

Recommended: How to Endorse a Check

Other Places to Order Checks Online

You don’t have to order your checks directly from your bank. Reputable third-party check-printing companies and some large retailers also sell checks, often with a wider selection of designs and quantities. Prices range from around 5 to 24 cents per check and minimum orders can be anywhere from 80 to 200 checks.

To find a reputable seller, make sure that the checks they issue feature a small padlock icon on the right side of the check — either under the “amount” box or in the righthand border. This tells you that the check’s security features — and the issuing company — meet the requirements of the Check Payment Systems Association (CPSA).

Some check-printing companies offer enhanced security features, including watermarks, hard-to-copy microprint, hologram foil, and thermochromic ink (ink that disappears with heat). These features help protect against alteration or duplication of a check, but can add to the cost.

What You Need for Ordering Checks Online

Whether you’re ordering from your bank or a third-party check printer, you’ll typically need to provide:

•   Your personal information. This generally includes the name and address you want printed on the checks. Business checks will typically use the business name and address.

•   Your bank information. You may need to give the name of your bank or credit union and, in some cases, its address.

•   Your checking account number. You can find this on an existing check, bank statement, or through your online bank account.

•   Your bank routing number. This nine-digit number identifies your financial institution and is used for various types of electronic and check transactions. You can find it on a check, bank statement, or through your bank’s website or mobile app.

•   Your starting check number. If you’re reordering checks, you may want to continue the numbering sequence from your previous checkbook. For example, if your last check was numbered 199, you could start the new checks at 200. Keeping the sequence can make it easier to track your payments.

Before submitting your order, carefully check that your name, address, routing number, account number, and starting check number are correct. Errors can result in checks that can’t be processed correctly and may require you to place another order.

Alternatives to Using Paper Checks

Although there are still situations when a paper check makes sense, you may have other ways to make many of the same types of payments.

Online bill pay. Many banks offer online bill pay, which allows you to schedule payments through your checking account. Depending on the recipient, the bank may send the money electronically or, if the payee doesn’t accept electronic payments, mail a paper check on your behalf.

ACH payments. ACH transfers allow you to transfer money online and can be used for many recurring and one-time payments, as well as moving money between bank accounts. They can be a convenient alternative to a check when a recipient accepts electronic payments.

Debit cards. For purchases and payments where payment cards are accepted, using a debit card can eliminate the need to write a check while drawing money directly from your checking account.

Person-to-person (P2P) payment services. Payment apps and services can be useful for sending money to people you know, although availability, fees, transaction limits, and protections vary by service.

Not every payment recipient accepts electronic payments, so keeping a small supply of checks may still be worthwhile if you occasionally need them.

The Takeaway

Checks may no longer be an everyday payment method for many people, but having a few on hand can be useful for rent, large purchases, charitable donations, contractors, and other payments where a paper check is accepted or preferred.

If you need more checks, ordering them through your bank or credit union is usually the simplest option. You can also order from a reputable third-party check printer, which may give you more choices and potentially lower prices. Just make sure to protect your account information and choose checks with appropriate security features.

If you rarely use checks, you may also find that online bill pay, ACH payments, debit cards, or other electronic payment methods can handle many of the payments you once made by check.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How long does it take to get a checkbook from the bank?

Standard check orders can take a couple of weeks to arrive, although the exact timing varies by bank, check printer, and shipping method. Some financial institutions offer expedited delivery for an additional fee. If you need checks quickly, contact your bank to ask whether it can provide temporary or counter checks while you wait for your regular order.

Can I get a check printed at the bank right away?

Some traditional banks can provide temporary, or counter, checks at a branch while you wait for a regular checkbook. These checks may contain your account information but generally won’t have your name or other customized details printed on them. Availability varies by bank and branch, and there may be a fee. Call ahead to confirm whether your branch offers counter checks.

Are checks free from the bank?

It depends on your bank and checking account. Some accounts include free personal checks, while others charge for check orders or reorders. Banks may also offer discounts or free checks to customers with certain premium or relationship accounts. Check your account’s fee schedule or contact your bank before ordering to find out what you’ll pay.

Is it safe to order checks online?

Ordering checks online can be safe if you use a reputable check printer and take precautions to protect your banking information. Make sure the website uses a secure connection and verify the company before placing an order. It’s also important to check your order carefully to make sure your name, routing number, account number, and starting check number are correct.

What is the difference between a starter check and a regular checkbook?

Starter checks, sometimes called counter checks, are temporary checks that a bank may provide when you first open an account or need checks before a regular order arrives. They typically have basic information and may not include your name or a customized design. A regular checkbook contains personalized checks printed with your name and account information and is ordered through your bank or a check-printing company.

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How many bank accounts do you need? For many people, a checking account for everyday expenses and a savings account for emergencies and other goals may be enough. But having multiple accounts can also make it easier to organize your money, separate spending from savings, or take advantage of different account features and interest rates.

The key is finding a setup that fits your finances without making them unnecessarily complicated. While multiple accounts can offer greater flexibility and organization, they can also mean more balances to monitor and account requirements to keep track of. Here’s how to decide how many bank accounts may make sense for you.

How Many Bank Accounts Do Most People Have?

Financial experts generally advise having at least two bank accounts: a checking account for everyday spending and a savings account for setting aside money for future expenses. But there are good reasons to expand your banking setup, such as improving financial organization and capitalizing on higher interest rates.

For example, you might want one checking account for fixed bills and another for discretionary (“fun”) spending money. Savers may open multiple savings accounts to organize their goals — perhaps one for an emergency fund, another for a down payment, and a third for an upcoming vacation. Many couples maintain individual accounts, as well as a joint account for shared expenses and goals.

Historical research suggests that the average American has around five bank accounts across institutions. But this may be too many (or too few) for you depending on your needs and situation. Managing multiple bank accounts can be time-consuming and complex and may lead to more fees and tax statements, so it’s important to weigh the pros and cons.

How Many Bank Accounts Can You Have?

You can legally have as many bank accounts as you want. There is no federal or state law that limits the number of checking or savings accounts an individual can open or hold simultaneously. However, financial institutions may have their own internal policies regarding the number of accounts you open, approval criteria, fees, and minimum balance requirements.

Recommended: How to Switch Banks

7 Reasons to Open Multiple Bank Accounts

Opening multiple bank accounts can be a smart way to organize your finances and maximize your earnings. Here are seven reasons to consider spreading your funds across different accounts.

1. Separate Shared and Personal Money

Couples may find it helpful to have separate individual accounts along with a joint checking account. A joint account can be used for shared expenses such as rent or mortgage payments, utilities, groceries, and other household costs, while individual accounts can give each person more flexibility over their personal spending.

Having separate accounts isn’t necessarily a sign that you keep your finances completely separate. Instead, it can provide a way to manage shared financial responsibilities while allowing each partner to maintain some independence over personal money.

2. Track Financial Goals More Easily

Multiple savings accounts can make it easier to organize money according to specific goals. Instead of keeping all of your savings in one account, you could have separate accounts for an emergency fund, a vacation, a home down payment, or another large upcoming expense.

Seeing each balance separately can also make it easier to track your progress. Some banks offer goal-setting or savings features that allow you to organize funds within a single account, such as savings vaults, so you may not need a separate account for every goal.

3. Earn more Interest

Different banks and account types can offer different interest rates. Keeping your checking account at one bank while moving some of your savings to a high-yield savings account at another institution could help you earn more interest on money you don’t need for everyday expenses.

High-yield savings accounts are typically available through online banks, which generally have much lower operating costs compared to traditional banks with physical branches. Online banks typically pass these savings onto customers in the form of higher rates and low (or no) fees.

4. Get More Features and Perks

No single bank necessarily offers every feature you want. One institution may have convenient branch locations for in-person assistance and cash deposits, while another could offer overdraft protection, budgeting tools, or cash-back rewards.

Keeping accounts at different institutions can allow you to choose the features that are most useful to you rather than relying on a single bank for everything. Just make sure the benefits of each additional account outweigh any fees or extra management.

Recommended: Emergency Fund Calculator

5. Maximize FDIC Protection

Spreading money across different FDIC-insured banks can potentially increase the amount of your deposits covered by federal deposit insurance.

The FDIC generally insures deposits up to $250,000 per depositor, per insured bank, for each ownership category (such as single, joint, or trust account) in the unlikely event of bank failure. So if you have more than $250,000 in eligible deposits, dividing your money between separately insured banks may allow more of your deposits to fall within FDIC coverage limits.

6. Better Budgeting:

Multiple bank accounts can also help you separate money based on how you plan to spend it. For example, you could use one checking account for fixed bills such as rent, utilities, and loan payments and another for everyday spending such as groceries, entertainment, and dining out. You could then transfer a set amount into the spending account each pay period.

This approach can make it easier to see how much discretionary money you have available without accidentally spending money that has already been earmarked for bills.

7. Separating Personal and Business Finances

If you freelance, have a side gig, or own a small business, it can be useful to have separate business and personal bank accounts. Keeping business and personal finances separate can provide a clearer picture of how your side gig or business is performing and help prevent personal expenses from becoming mixed with business transactions. It can also make it easier to prepare your taxes.

How Many Checking Accounts Should I Have?

For many people, one checking account is enough. You can use it to receive your paycheck, pay bills, make purchases, and manage other everyday transactions.

However, you may want to consider a second checking account if you have a specific reason for keeping some money separate, such as sharing household expenses with a partner, separating essential vs. discretionary spending, or maintaining separate personal and business finances.

Before opening another checking account, consider whether it will make your finances easier to manage or simply give you another balance to monitor. Also check for monthly fees, minimum balance requirements, ATM access, and other account terms. If your current checking account meets your needs, there’s generally no need to open another one simply for the sake of having multiple accounts.

In other words, the right number of checking accounts is the number that helps you manage your money effectively without creating unneeded financial clutter.

Potential Downsides to Having Multiple Bank Accounts

Although multiple accounts can make your finances easier to organize, there can also be drawbacks. The more accounts you have, the more balances, transactions, statements, and account requirements you may need to monitor.

Potential downsides include:

•   More fees: Some accounts charge monthly maintenance fees or require minimum balances to avoid them.

•   More opportunities for overdrafts: If you don’t keep track of your balances, you could accidentally spend money from the wrong account or overdraw an account.

•   More account management: Multiple accounts mean more statements, passwords, transfers, and transactions to monitor.

•   Minimum balance requirements: Maintaining several accounts may make it harder to meet minimum balance requirements at some banks

•   Less financial visibility: Having too many accounts can make it harder to get a clear picture of how much money you actually have available.

The goal isn’t to have as many accounts as possible. It’s to have enough accounts to make managing your money easier without creating unnecessary complexity.

How to Manage Multiple Bank Accounts

If you decide that multiple bank accounts make sense for you, these simple habits can help you stay organized:

•   Give each account a purpose. Know what each account is for and avoid opening accounts that don’t serve a specific purpose.

•   Automate transfers. Set up recurring transfers to move money into savings or a separate spending account after each paycheck. Automation can help you stay on track without having to remember to make each transfer manually.

•   Monitor your balances. Check your accounts regularly, particularly if you have automatic payments or transfers coming out of them. A budgeting app or your bank’s mobile app may make it easier to see your accounts in one place.

•   Watch for fees and requirements. Review monthly fees, minimum balance requirements, interest rates, and other account terms periodically. If an account no longer provides a meaningful benefit, consider whether you still need it.

•   Keep an overall view of your finances. Even if your money is spread across several accounts, make sure you know your total cash balance and how much is available for spending, saving, and upcoming expenses.

The Takeaway

How many bank accounts you should have depends on your financial goals, spending habits, and how much organization you want. For some people, one checking account and one savings account may be all they need. Others may benefit from additional accounts for specific savings goals, shared expenses, budgeting, or business finances.

Multiple accounts can help you organize your money and take advantage of different account features, but they can also create additional fees and management work. The right setup is one that makes it easier — rather than harder — to manage your money.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Is it a good idea to have multiple bank accounts?

It can be. Multiple bank accounts can help you separate money for bills, everyday spending, emergency savings, and other financial goals. They may also allow you to take advantage of different interest rates or account features. However, having too many accounts can make your finances harder to manage and may result in additional fees. The best approach is to have enough accounts to support your financial goals without creating unnecessary complications.

Is three bank accounts too many?

Not necessarily. Three bank accounts can be a practical setup for many people. For example, you could have one checking account for everyday spending, one savings account for an emergency fund, and another savings account for other goals. The right number depends on your financial situation and how easily you can manage your accounts. If having three accounts helps you organize your money without adding unnecessary fees or complexity, there’s generally no reason to consider it too many.

Do too many bank accounts hurt your credit?

Generally, opening or maintaining bank accounts does not directly affect your credit scores. Checking and savings accounts typically aren’t reported to the three major credit bureaus. However, certain account-related activity, such as unpaid negative balances that are sent to collections, could potentially affect your credit. Opening a bank account may also result in a bank checking your ChexSystems report rather than your traditional credit report.

Can you have multiple checking accounts at the same bank?

Yes, many banks allow customers to have multiple checking accounts at the same institution. You might use separate accounts for bills, discretionary spending, or shared household expenses. However, each bank sets its own rules, including any limits, minimum balance requirements, or monthly fees. Before opening another account, check the bank’s terms to make sure you understand the costs and requirements.

How much money should you keep in your primary checking account?

There’s no set amount that everyone should keep in a primary checking account. A reasonable approach is to keep enough to cover one to two months’ worth of bills and regular spending, plus a small cushion for unexpected expenses or timing differences between deposits and withdrawals. You may want to keep larger savings goals and emergency funds in savings accounts instead. Reviewing your typical monthly expenses can help you determine how much cash you need readily available in checking.

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While these two services may sound similar, debt buyers purchase past-due accounts from lenders, whereas debt collectors work on behalf of whoever owns the debt in an attempt to get the borrower to pay.

If you find yourself struggling with debt, it’s important to understand what may happen to it so you can better work through the situation. That’s why it may be worth knowing the difference between a debt buyer and a debt collector. Both of these services are used by lenders, such as banks, to move debts off of their liability balance sheets.

Take a closer look here at how each of these services operates.

When and Why Do Companies Sell Your Debt?

A borrower will likely only ever deal with the company they’re borrowing from, so long as they make payments on their debt regularly and on time. However, if the borrower does not make timely payments, the debt may get sold to a third party, known as a debt buyer.

The lender will sell the debt in an effort to lower their liability. There’s no real timetable for when debt may be sold or go into collections. It can depend on the state you live in, the lender’s policies, and the type of debt it is. Debt collectors can then attempt to collect the debt from the debtor. They operate on behalf of the business that owns the debt, and their goal is to get the debtor to pay what they owe.

What Is a Debt Buyer?

A debt buyer is a company that purchases past-due accounts from a business, such as a bank or a credit card company. They typically purchase the debt for a small percentage of what’s actually due to the original lender. The amount a debt buyer pays for debt can vary, but it’s often just cents on the dollar.

For example, a debt buyer may only pay $100 for a $1,000 debt from the original lender. This means that if the new debt buyer actually collects the debt they purchased, they will make a $900 profit. Debt buyers can generally purchase older debt for even lower amounts because it’s less likely to actually get collected.

Debt buyers don’t usually do this as a one-off purchase. Instead, they’re in the business of purchasing many delinquent debts at once to increase their odds of turning a profit. This strategy has the potential to be quite lucrative. If, for example, a debt buyer purchases 10 different $1,000 debts at $100 apiece, the buyer needs just one person to pay their debt to break even, and just 2 out of the 10 people to pay their debts to turn a profit.

What Is a Debt Collector?

Debt collectors are third-party companies that collect debts on behalf of other companies. They can attempt to collect debts on behalf of the original lenders, or they can attempt to collect debts for debt buyers.

Debt-buying companies may also function as debt collection agencies to collect the debts they’ve purchased. But a debt-buying company can also assign debts to another third-party debt collecting company, paying it a portion of the profit they make when the debt is paid.

To get the debt paid, debt collectors will typically contact the original debtor through letters and phone calls, letting them know what’s owed and attempting to convince them to pay the debt. Collectors will often use the internet to find a person or even go as far as hiring a private investigator. Debt collectors also can look into a person’s other financial information, such as their bank accounts or brokerage accounts, to assess if they’re theoretically able to repay their debts.

However, a debt collector typically cannot seize paychecks. The only way a collector may be able to seize a paycheck or garnish wages is if there is a court order, known as a judgment, requiring the debtor to pay. For this to happen, the debt collector must first take the debtor to court within the debt’s statute of limitations and win the judgment. Still, there could be other negative consequences, such as collectors reporting a debtor to credit agencies, which could affect the debtor’s credit score for some time.

Debt collectors often get a bad reputation for using aggressive tactics. The federal government introduced the Fair Debt Collection Practices Act to protect people from predatory practices. The law dictates certain reasonable limitations under which a debt collector can contact the debtor. If the collection company violates the law, the debtor could bring a lawsuit against it for damages.

How to Avoid Collections and Pay Off Debt

Paying off all debt on time is the best way to avoid encountering either a debt buyer or a debt collector. But if you find yourself in debt, don’t despair. Rather, take a bit of time to plan the best method of repayment for your financial situation, which could entail getting into the nitty gritty of your spending or crunching the numbers with the help of a personal loan calculator.

Here are some of the different strategies to pay off debt that you might consider.

•   Creating a monthly budget: This can help you track spending and identify potential areas to cut back on in order to pay off debts faster. After sitting down and looking through your monthly expenditures, you might be surprised how much fat there is to trim. Then, put all of that extra cash toward paying down your debts.

•   Using the snowball method or avalanche method: The snowball method focuses on paying off your debts in order of the smallest to the largest balances while continuing to pay the minimum due on each debt. With the avalanche method, you target the debt with the highest interest rate first while continuing to make minimum payments on other debt balances. In both methods, after the first debt is paid down, the amount that was going toward that debt is put toward the second debt on the list, and so on, thus helping to pay down each consecutive balance as fast as possible.

•   Consolidating your debts: Another option to try is consolidating debts with a debt consolidation loan, which is one type of personal loan. Typically, a debt consolidation loan offers lower interest rates than credit card interest rates, which can make those debts more affordable and easier to pay off.

That’s why debt consolidation is a common use for personal loans. Plus, with a debt consolidation loan, you’ll only have one monthly payment to stay on top of.

Recommended: Common Uses for Personal Loans

The Takeaway

A debt buyer vs. collector plays a different role when it comes to debt, but both are parties you might encounter if you’re way past due on your payments. Debt buyers purchase debt from lenders, often for pennies on the dollar. Debt collectors, however, can take a number of steps in an effort to collect owed debt on a company’s behalf, including reporting that debt to the credit bureaus. To avoid encountering either of these, consider ways to manage your debt more effectively.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.