Why do businesses prefer cheques to cash?
Question asked by: mrquestion
Asked on: 31 Mar 2008
Businesses prefer cheque payments to other payments (probably online or electronic more than cash) due to the fact that it helps with their cash position.
If they pay you online they lose the money very quickly. With a cheque there is the delay of you taking it to the bank and then a few days whilst it is cashed and the money leaves the account.
As all this takes a few days then it can be seen that it takes a while for the money to actually leave there account so they have it in their account a while longer.
By: knowitall
Replied at: 31 Mar 2008
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