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05/06/2024

Is it time to kill the paper check?

ABA Banking Journel

Checks aren’t dying on their own. Meanwhile check fraud is up exponentially while bankers await a killer app for payments.

In 2019, Saturday Night Live aired a sketch called “Cheques,” a mock bank commercial that plays up the scandalous drama of check-writing — “because there’s nothing like furiously scribbling on a piece of paper, tearing it, flicking your wrist and saying ‘I trust this will suffice.’”

“Best of all, checks are easy,” vamps actress Sandra Oh, giving a check logistics lesson for unaware youngsters as she taps on a blank check. “Here: his name. Here: how much. Here: the same, but with letters.”

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