Summary
In a world that's rapidly advancing towards digitalization, the persistence of traditional check payments remains a cause for concern (and pain!). Recent statistics paint a stark picture of the risks associated with mailing checks, urging us all to consider safer and more secure alternatives.
According to the 2023 AFP Payments Fraud and Control Survey, a whopping 63% of organizations reported facing fraud activity through checks. Check fraud is not merely an inconvenience; it's a significant threat to your financial security and personal information.
Below we’ve outlined some check fraud statistical highlights to encourage you to consider making online payments instead of paying by mailing a check However, if you still desire to mail checks, we’ve also outlined the EIGHT steps you should employ when mailing a check payment.
Check Fraud Statistics
- Checks are the most vulnerable to fraud, with 63% of respondents reporting their organizations faced fraud activity via checks. (Source: 2023 AFP Payments Fraud and Control Survey)
- Check fraud tied to mail theft is soaring nationwide (Source: U.S. Treasury, Financial Crimes Enforcement Network)
- Mail theft is on the rise (Source: Los Angeles Times, 2023)
- The FBI estimates that losses from check fraud total $18.7 billion annually. (Source: Relyco, 2022)
- More than 500 million checks, more than a million a day, are forged annually in the U.S. Because of demands on law enforcement, prosecutors fail to pursue 75% of bank check fraud cases, leaving most matters to be settled between the involved parties, and placing even greater emphasis on the concept of due diligence. (Source: Relyco, 2022)
How to Safely Mail a Check
- Restrict the paper check
- Use a security envelope
- Drop the mail at a secure location
- Send the check via certified mail
- Avoid sending cash or money order
- Don’t include extra details
- Track your checks
- Consider alternative payment methods, such as paying online. It is more reliable, safe, and immediate.
(Source: Identity IQ, 2021)
Where To Mail A Check
Aiwyn is the payments and billing platform your accounting firm uses to send invoices and accept payments online.
If you're wondering where do I mail my check, what is the mailing address for my payment, where do I send my check payment, what address do I send my invoice payment to, who do I make the check payable to, what's the remittance address, or is there a P.O. box or lockbox for check payments - this section is for you.
How to find the correct mailing address for your check
- Check your invoice or statement. The remittance address and payee name ("make check payable to") are usually printed on the invoice, statement, or payment coupon your firm sent you.
- Contact your firm directly. Reach out to your regular contact at the firm — your accountant, partner, billing contact, or the firm's main office — and ask for the correct mailing address for check payments and who the check should be made out to.
- Visit your firm's website. Most accounting firms list their office locations, mailing address, and billing or payment contact information on their website's Contact or Payments page.
Confirming the address with your firm before you mail anything also protects you: mailed payments sent to the wrong address are a common source of lost payments and check fraud.
The faster, safer option: pay online
Paying online through your firm's Aiwyn payment portal avoids the mail entirely. Online payments by ACH or credit card post to your account right away, so there's no risk of a lost, stolen, or altered check, no waiting on delivery, and no question about whether your payment arrived. Use the payment link in your invoice email or your firm's client portal to pay your balance in a few clicks.