While creating a bank account, you can choose between different types of checks. The growing popularity of card payment, online bill payment systems, and net banking have reduced the takers of paper checks. But when it comes to managing family and individual finances, nothing can match the advantage of checks. Customers can choose between single or duplicate checks while ordering paper checks. While the difference between both these is small, it is enough to confuse people. Today we are going to discuss the distinction between single and duplicate checks so that all your future transactions remain pleasant and secure.
What are single checks?
Just as the name suggests, single wallet checks are made up of just a single page. This makes the checkbooks less bulky as they have a single number of checks per box and don’t include any copies. Thus, the transaction won’t be completed if the check is somehow ripped or lost. Single checks are utilized in connection to a check register and you need to note the payment amount and record the payee for record keeping every time you write a check. The biggest disadvantage of single checks is that you won’t have any further written record in your checkbook of the amount or to whom it was issued once you have written it.
What are duplicate checks?
Duplicate checks feature a carbon copy alongside the original check. They are otherwise similar to single checks except for a small piece of paper at the back of each check acting as a carbon copy. Whenever you write, the pressure applied by the pen transfers everything on the duplicate sheet. After completing the check, you will simply have to tear the check leaving behind the duplicate sheet for easy reference. Personal duplicate checks feature the same type of binding as individual checks allowing you to fit them wherever you keep your regular checks.
You will find all details about the check such as the recipient’s name, amount, and date included on this thin paper. However, critical information like signatures or account information isn’t printed on the replica for security reasons. Whenever a user starts writing on the original check, the plain paper beneath it produces its identical copy. If you are wondering are duplicate checks worth it, then you should know that it is the safest bet for commercial transactions. You can easily keep track of your finances with this paper copy and use it to balance your account and compare financial records in the future. While writing the check, you need to apply some pressure to ensure everything is copied properly below.
| Points Of Difference | Single Checks | Duplicate Checks |
| Description | These cheques come in single pages. | These checks feature a carbon copy beneath the original check. |
| Presence of carbon paper | There is no carbon paper beneath the check which is why only a single copy of the check is produced. | Have carbon paper beath them producing two copies of the check. |
| Number of copies | Has a single copy. | Has two copies carrying similar information. One piece is retained by the check writer whereas the other piece is given to the receiver. |
| Proof of transaction | Doesn’t have any proof of transaction. | Transaction details imprinted on the carbon paper acts as transaction proof. |
| Cost of the check | Comparatively inexpensive | More expensive because of the carbon paper attached underneath each duplicate check. |
| Checkbook size | Less bulky | Bulkier due to increased number of pages. |
| Usage | Better suited for smaller personal transactions. | Better suited for more expensive commercial-grade transactions. |
| Writing pressure required | Requires a normal level of hand pressure | The carbon copy checks require more hand pressure so that the details get properly imprinted on the copy. |
| Duplicate copy | There is no duplicate copy or proof if the single check is somehow lost. | There is documented evidence of a duplicate copy even when the check is lost. |
| Recordkeeping | Not very useful for recordkeeping. | Easy to keep a tab over how much you paid, who you paid and when the payment was made seamlessly. This makes it the perfect choice for recordkeeping of business expenses, loan repayment, and itemizing tax deductions. |
| Help in auditing | Not of any help | Extremely helpful as it contains the check date, payee name, and payment amount. |
| Use of check register | Intended to be utilized with a check register. | Can be utilized solo. |
Is it required to keep check duplicates?
If the check clears and then shows up in your online banking, then you won’t have to keep check duplicates. However, if you itemize your business expenses or tax deductions in case of an IRS audit, then duplicate checks can offer a non-digital way of tracking payments and expenses. Since duplicate checks serve as a payment record, this can come to your rescue in case of a discrepancy such as a missing mortgage payment.
How long do I need to keep the check copies?
You should keep the check duplicates for a minimum of 5-7 years. The checks written supporting a tax return should be kept for a minimum of 7 years whereas the ones for loan repayment should be kept for the loan duration plus 5-7 years.
How much do duplicate checks cost?
Usually, these checks cost between $30-40 if you are ordering through your bank. However, you can find cheaper duplicate checks while shopping online at Walmart or Costco.
From where can you buy duplicate checks?
You will find the places to purchase duplicate checks printed in the check catalog offered by the banking institution. Alternatively, you can check the catalog from their official website and get them for your regular checkbooks. Some credible online check printers also provide these duplicate checks alongside your regular single checks at a lower amount.
How to dispose of duplicate checks?
You can dispose of duplicate checks by either shredding or archiving them. For shredding, you can either do it yourself or take them to your bank. Using bank shredders and similar disposal processes is a safer alternative to throwing them away.
A check is a written order for transferring funds from the account of the payer to the payee. Both single and duplicate checks help transfer money from one checking account to another. However, the functioning of each check is different. Though the world of finance has evolved drastically, checks are still preferred by the old-school lot. Knowing about both types of checks in detail will help you make an informed decision while choosing among the same.