Personal checks, the world’s slowest method of payment is dying out. Target has just announced that they will no longer accept personal checks starting next Monday. They say it shouldn’t upset too many because they were taking in “extremely low volumes” of checks anyway. They didn’t elaborate on the decision. There are plenty of places, like Walmart, that do still accept checks but it’s probably only a matter of time before it’s phased out there too. In a recent survey, about 1 in 5 people over 66 write several checks each month, but about half of people under 55 don’t write a single check the entire year.
(NBC News)
