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What Is In Store For The Personal Check?





I agree. I only wrote 2-3 checks every month now and I'm perfectly happy. Banks benefit from my actions too because of lower processing costs. The only victim in this transition will be the checking printing companies.

From MSNBC:

By 2010, checks’ share of the payment market could fall below 25 percent of non-cash payments, according to a study Dove conducted last year for the Fed.

Farther out, checks’ market share is likely to fall to only 2 percent to 3 percent, “certainly in the single digits,” said Joel Stanton, a Dove consultant who worked on the 2004 Fed study.
“Think of this: The Internet is still a new medium from the last 10 to 15 years ... and even debit cards were just getting off the ground in the early ’90s,” Stanton said. “It’s a long time away, but I can see where the days of the check are coming to a close.”

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