Is it necessary to keep a paper check register if you do online banking?
A question from Dory: Is it necessary to keep a paper check register if you do online banking?
I have recently switched to monitoring my checking account online. I still get a paper statement every month, but usually ignore it. I print out the online statement every month. Is there any advantage to entering checks and individual debit card payments in the check register as well?
Best answer:
Answer by heyteach
You could view it as backup or to keep a running total with you, but there’s no genuine need.
If you know better then please let us know below.
Tagged with: banking • check • keep • necessary • online • paper • Register
Filed under: Online Banking
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It’s necessary if you write a lot of checks. Debit card and online bill pay transactions will hit your account right away but you don’t want to be caught short if someone you wrote a check to doesn’t cash it for a few weeks.
If you use your debit card a lot and don’t keep a very big balance in your account, it is helpful to either keep a paper check register or sign onto your account at least every couple of days just to make sure everything looks ok.
Don’t depend on the technology, there is always room for error. You should ALWAYS keep a physical check register. It’s the only 100% accurate way to keep up with your bank account, as long as you legitimately try to keep up with everything.
I work at a bank and all of the people I’ve dealt with who primarily keep up with their banking via the internet ALWAYS have problems. For instance, if you pay for gas at a lot of gas stations with your debit card, the gas station will only take $ 1.00 out and THEN post the actual $ 30-40 you spent a week later. Of course the person doesn’t pay attention to this and all of a sudden their account is overdrawn because all of these “sudden” charges pop up. This same scenario occurs ALL the time and it’s not always gas stations.