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Is Writing a Check Still Safe?
Money Talks news
Writing checks may seem like an outdated way to pay for things, but plenty of people still use them.
More than 14.5 billion checks, totaling $25.8 trillion, were written in 2018, according to the Federal Reserve’s latest payments study. And while that number has decreased by about 7% every year since 2015, debit and credit card payments aren’t as ubiquitous as many of us think.
In an era of identity theft and bank fraud, American’s long-standing relationship with their checkbooks begs the question: How safe is this 20th-century payment method?