Wave goodbye to checks; they could soon be a thing of the past

DAYTON — As digital payment methods gain popularity, the use of checks continues to decline, with many retailers no longer accepting them.

According to the Federal Reserve, more than 60% of consumer transactions are made using credit or debit cards. Cash follows with 16%, while only 3% rely on checks.

[DOWNLOAD: Free WHIO-TV News app for alerts as news breaks]

TRENDING STORIES:

• SWAT called to Dayton neighborhood
• Former school bus driver accused of driving students while drunk facing charges
• Area school district to dismiss early tomorrow, Friday due to dangerous heatwave

Rita Strong from East Point, Ga., told News Center 7′s sister station WSB-TV that it’s been a long time since she wrote a check.

“I don’t carry checks anymore, I don’t use a checkbook,” she said.

Strong prefers to pay cash inside stores, citing a sense of security.

New payment alternatives like Venmo, Cash App, and Zelle are significantly reducing the use of checks.

“In mid-July, Target stopped accepting checks, joining other retailers like Aldi, Lululemon, and Whole Foods,” said Ted Rossman from Bankrate.

Rossman said there’s a benefit to using credit cards.

“Credit cards have better rewards programs than other payment methods, and they have better buyer protections. If you like your debit card as a debt avoidance method, that can be useful. Some people still like cash. I don’t see a lot of check loyalists out there though,” he explained.

News Center 7 Consumer Adviser Clark Howard, emphasizes the importance of digital payments for security, especially given the rise in mail and check fraud.

“Don’t ever mail a check,” Howard advised. “Pay your bills electronically. It’s the best way to pay a lot of bills. You can pay them directly, electronically from your checking account to them.”

[SIGN UP: WHIO-TV Daily Headlines Newsletter]

While checks are not entirely obsolete, some businesses and individuals still rely on them for contributions, bills, and gifts, the shift toward digital payments is clear and ongoing.