Even as digital payment methods have grown in popularity over recent years, checks remain a standard form of payment for individuals and businesses. From paying bills and employee wages to making gifts or charitable contributions, checks offer a convenient and secure way to complete payments.
However, even though checks are an analog form of payment, they’re still susceptible to fraud, misuse, and abuse, just like digital methods. In fact, the Financial Crimes Enforcement Network (FinCEN) reported receiving 15,417 reports on mail theft-related check fraud last year, accounting for payments of more than $688 million.
To protect check payments amid the rising incidence of fraud, using high-security checks can be an easy swap for account holders. Continue reading below as we discuss the important features of high-security checks, who should use them, and whether they’re worth the extra cost.
What’s Considered a “High-Security” Check?
Compared to standard checks, a high-security check contains advanced security features to uphold the integrity of the transaction and protect payers and payees from fraud. High-security checks may also be referred to as safety checks.
Typically, these checks will be made with multiple security layers, including features like:
- Chemical-Sensitive Paper: Prevents checks from being altered, as it will leave visible stains or marks if someone attempts to change any elements using bleach or other solvents
- Microprint Signature Line: Text that’s only visible under a microscope but appears as a straight or dotted line to the naked eye; makes the check increasingly difficult to forge or replicate accurately
- Heat Sensitive Ink: A special message or insignia that will fade or disappear when heat is applied to it, helping to verify the legitimacy of a check.
- Security Screen: A faint printing on the back of the check that cannot be easily replicated by a copier or laser printer, preventing checks from being duplicated
Are High-Security Checks Worth It?
Safety checks may be slightly more expensive than standard checks. But, the peace of mind and extra protection they offer against fraud is often a fair tradeoff for the individuals and businesses who continue to write checks.
Of the over 15,000 reports FinCEN received last year related to check fraud, 44% of cases were of checks that were altered before being deposited, and 26% were used to make counterfeit checks. As outlined above, the advanced security features included in high-security checks, like the security screen and chemical-sensitive paper, can help to combat these fraud attempts.
Thus, you can decide for yourself. Consider the few extra dollars you might spend to purchase safety checks with the potential for thousands of dollars in losses you might incur from check fraud.
High-Security Checks for Personal Banking vs. Business
Given the higher volume and transaction amounts that businesses manage, safety checks for business banking may have additional security features than personal checks.
The specific features offered will vary between manufacturers, though this may include things like a special watermark or hologram that make the business checks extremely hard to replicate.
