Cheques Still a Staple for Canadian Business Payments in 2024

Despite the surge in digital payments, cheques remain a vital tool for Canadian businesses, especially for high-value transactions requiring documented records. According to Payments Canada's 2025 Canadian Payment Methods and Trends Report, cheques accounted for only two per cent of total payment volume in 2024 but represented a substantial 22 per cent of total payment value. This disparity highlights that while digital payments dominate in frequency, cheques are still preferred for larger, more formal payments like vendor settlements, rent, and security deposits.

Print & Cheques Now Inc., a Calgary-based cheque printing company serving over 46,000 customers across Canada, confirms that accounting teams and finance departments continue to drive steady demand for cheques. The company notes that many businesses maintain printed cheques for payments that require a signature, remittance stub, or a clear paper trail. Key factors sustaining this demand include requests from vendors and landlords for cheque payments, reliance on cheque stubs for reconciliation, and the simplicity of approving and filing one-off payments compared to setting up digital processes.

Print & Cheques Now offers Payments Canada Standard 006-compliant cheques and holds CPA Self-Accredited Printer #1010 status. Their products include business cheques, personal cheques, deposit books, and more, compatible with accounting software like QuickBooks, Sage 50, and Xero. For businesses needing to order bank cheques or explore business cheques Canada options, the company provides same-day printing and a Bank Acceptance Guarantee. This underscores that while digital payments are prevalent, the need for reliable, compliant cheque solutions persists, driven by recordkeeping and operational requirements.