The Enduring Relevance of Checks in Today’s Digital Finance World

Despite the rise of electronic transactions, checks remain significant in personal and business finances in 2024. Some people simply prefer to write checks rather than send electronic payments. Plus, checks can even be a more secure payment method. 

With numerous digital payment options, why do people continue using checks? Below, we’ll explore the advantages of check writing in 2024 and the various ways people continue to use checks in the digital age.

Why Use Checks in 2024?

A survey published last year by the Federal Reserve of Atlanta shows that a large majority, or three-quarters of consumers, reported having a paper check on hand. The survey also found that nearly half, or 46% of consumers, reported using a paper check at least once in the previous 30 days. 

In addition, another report from the Atlanta Fed shows that most checks used in 2021 were paid to businesses. Thus, the idea that paper checks are becoming obsolete does not give a complete picture of check usage by both consumers and businesses in the modern era. 

Here are some of the main reasons why checks are a preferred way to make payments: 

  • Avoid processing fees: Merchants may want to avoid incurring processing fees to accept credit card payments, preferring payment via check instead. According to Reuters analysts, the average credit card processing fee ranges between 1.5-3.5%, which can be meaningful to small businesses. 
  • Record-keeping: Checks create a transparent paper trail, helping businesses and individuals keep track of their finances and provide proof of payment as needed. 
  • Security: Paper checks are not susceptible to the rising risk of cybercrime like digital payment processors are. In fact, survey data shows that 69% of digital payment users worry about the security of the platforms.
  • Institutional systems: Check payments are ingrained into the processes of many institutions and industries, remaining relevant even as new payment methods emerge. 

What Checks are Used for in 2024

With a better understanding of why checks are still prevalent, let’s take a deeper look at the common ways people use checks in 2024. 


It’s very common to use a personal check when giving a gift for a birthday, holiday, wedding, or other special occasion. While you could make a digital transfer to someone when you want to give them money as a gift, it doesn’t have the same feel as placing a check in a card or envelope. Plus, digital transfers notify the recipient immediately, which can detract from the essence of the gift.  

High-Value Purchases

When making a large payment, like putting a down payment on a car or house, checks are a common form of payment and may even be required by sellers. Research from the Atlanta Fed shows that the average dollar value of check payments is around $300, much higher than that of other types of payments at $87. 

Business Payroll 

A certain number of small businesses continue to pay their employees with a paper check. Data from FreshBooks shows that 40% of small business owners still get paid via check.  

Though direct deposit is a popular payment method today, some people would rather receive a physical payroll check. Plus, using paper checks allows businesses to pay employees who may be unbanked and don’t have a bank account where they can receive a direct deposit or other form of electronic payment. 

Whether you’re a small business owner or managing a large enterprise, business checks can help streamline your financial transactions and maintain the professionalism you desire. Embrace the enduring relevance of checks and discover how this timeless tool can complement your modern financial practices.

As we navigate through today’s digital finance world, it’s clear that traditional checks still hold significant value for many individuals and businesses. From providing a reliable paper trail to offering a level of personalization and security, checks are still relevant.

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About Adam Blair

Adam Blair is a certified CPA who began his career with Ernst & Young focusing on Manufacturing, Retail, and Distribution clients. He graduated from Samford University with a Master of Business Administration in Accountancy and successfully passed the Certified Public Accountancy exam. After several years in public accounting, he accepted an opportunity to work for a technology start-up, MedMined, that was later acquired by Cardinal Health. Adam has served several retail businesses as an accountant and business partner in various roles. Today, he serves as the CFO of Main Street, Inc (a parent company of CheckWorks). As the resident financial expert at the company, he believes successful businesses take great care of their customers and focus on building a team of happy employees.