Nearly Half of Americans Haven’t Written a Check in the Past Year
Nearly Half of Americans Haven’t Written a Check in the Past Year — Why More Should Follow Their Lead
March 28, 2023 GoBankingRates
When was the last time you wrote a check?
In a new survey from GOBankingRates polling 1,000 Americans, 44.5% of respondents revealed they have not written a physical check in the past year. While this percentage may seem quite high, many are still using their checkbooks on an active basis. For instance, 15% said they write a few checks a month and 22% write a check once a month.
In an increasingly digital world where we rely on automatic payments, we may wonder if writing checks will become obsolete. For those who still need them, though, checks are a vital part of their financial lives.
Still, writing checks comes with a number of issues that suggest doing away with the process could be a good thing. Consider some of these risks associated with check-writing — courtesy of Todd Christensen, education manager at Debt Reduction Services.
Checks Can Reveal Too Much Information
For the most part, people who write a physical check and give it to a recipient — like a contractor or their landlord — are trusting this individual with the payment amount and personal information printed on the check. What many often do not consider is how much confidential information is also on there.
“Every check they’ve ever written has their checking account number and their financial institution’s routing number out in the open for anyone to see,” said Christensen.
In the wrong hands, or in situations where the check is not cashed quickly enough, this could lead to identity theft.
Checks Can Get Lost
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