{"id":241373,"date":"2024-07-09T18:50:46","date_gmt":"2024-07-09T18:50:46","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/09\/retailer-bans-personal-checks-after-rise-in-fraud\/"},"modified":"2025-06-25T17:15:03","modified_gmt":"2025-06-25T17:15:03","slug":"retailer-bans-personal-checks-after-rise-in-fraud","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/09\/retailer-bans-personal-checks-after-rise-in-fraud\/","title":{"rendered":"Retailer bans personal checks after rise in fraud"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/07\/GettyImages-1128763335-e1720549370827.jpg?w=2048\" \/><\/p>\n<div data-cy=\"article-content\">\n<p><a href=\"https:\/\/fortune.com\/company\/target\/\" target=\"_blank\" aria-label=\"Go to https:\/\/fortune.com\/company\/target\/\" class=\"sc-80b85506-0 pUpMT\" rel=\"noopener\">Target<\/a> will no longer accept personal checks from shoppers as of July 15, another sign of how a once ubiquitous payment method is going the way of\u00a0<a href=\"https:\/\/apnews.com\/article\/4f8c481007014190ac534c17c2592fdc\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/article\/4f8c481007014190ac534c17c2592fdc\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">outmoded objects<\/a>\u00a0like floppy disks and the Rolodex.<\/p>\n<div class=\"paywall\">\n<p>The Minneapolis-based discounter confirmed the move in a statement to The Associated Press on Tuesday, citing \u201cextremely low volumes\u201d of customers who still write checks. Target said it remained committed to creating an easy and convenient checkout experience with credit and debit cards, \u201cbuy now, pay later\u201d services and the\u00a0<a href=\"https:\/\/apnews.com\/article\/target-fourth-quarter-earnings-inflation-231a975d4bf95a80ed623b52a8c77dff\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/article\/target-fourth-quarter-earnings-inflation-231a975d4bf95a80ed623b52a8c77dff\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">Target Circle membership program<\/a>, which applies deals automatically at checkout.<\/p>\n<p>\u201cWe have taken several measures to notify guests in advance\u201d about the no-checks policy, the company said.<\/p>\n<p>Target\u2019s decision leaves\u00a0<a href=\"https:\/\/apnews.com\/article\/retail-price-cuts-inflation-target-65fbc568804f20919a609c594531e129\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/article\/retail-price-cuts-inflation-target-65fbc568804f20919a609c594531e129\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">Walmart<\/a>, Macy\u2019s and Kohl\u2019s among the retailers that still accept personal checks at their stores. Whole Foods Market and the Aldi supermarket chain previously stopped taking checks from customers.<\/p>\n<p><a href=\"https:\/\/apnews.com\/article\/spending-consumers-inflation-economy-growth-federal-reserve-b1d34bc43a0da960a152911b7c230881\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/article\/spending-consumers-inflation-economy-growth-federal-reserve-b1d34bc43a0da960a152911b7c230881\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">Shoppers<\/a>\u00a0have pulled out checkbooks increasingly less often since the mid-1990s.\u00a0<a href=\"https:\/\/apnews.com\/article\/jpmorgan-chase-bank-branches-hiring-5ee9b9ce933759b2b37217d9effef53a\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/article\/jpmorgan-chase-bank-branches-hiring-5ee9b9ce933759b2b37217d9effef53a\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">Cash-dispensing ATMs<\/a>, debit cards, online banking and mobile payment systems like Venmo and\u00a0<a href=\"https:\/\/apnews.com\/article\/apple-pay-digital-payments-visa-mastercard-affirm-d8e85a7d30c02523998dfbdd6f0b0497\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/article\/apple-pay-digital-payments-visa-mastercard-affirm-d8e85a7d30c02523998dfbdd6f0b0497\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">Apple Pay<\/a>\u00a0mean many young adults may never have written a check.<\/p>\n<p>Check usage has been in decline for decades as Americans have largely switched to paying for their services with credit and debit cards. Americans wrote roughly 3.4 billion checks in 2022, down from nearly 19 billion checks in 1990, according to\u00a0<a href=\"https:\/\/apnews.com\/hub\/federal-reserve-system\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/hub\/federal-reserve-system\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">the Federal Reserve<\/a>. However, the average size of the checks Americans wrote over the 32-year period rose from $673 in 1990 \u2014 or $1,602 in today\u2019s dollars \u2014 to $2,652.<\/p>\n<p>The drop in check writing enabled the Federal Reserve to sharply reduce its\u00a0<a href=\"https:\/\/www.federalreserve.gov\/paymentsystems\/check_about.htm\" target=\"_blank\" aria-label=\"Go to https:\/\/www.federalreserve.gov\/paymentsystems\/check_about.htm\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">national check processing infrastructure.<\/a>\u00a0In 2003, it ran 45 check-processing locations nationwide; since 2010, it has operated only one.<\/p>\n<p>Rising incidents of\u00a0<a href=\"https:\/\/apnews.com\/article\/check-fraud-banks-organized-crime-5f033b93bd87e2cbeb82b4ab4865a916\" target=\"_blank\" aria-label=\"Go to https:\/\/apnews.com\/article\/check-fraud-banks-organized-crime-5f033b93bd87e2cbeb82b4ab4865a916\" rel=\"noopener\" class=\"sc-80b85506-0 pUpMT\">check fraud<\/a>\u00a0are also making people shy away from check writing. It\u2019s being fueled by organized crime that is forcing small businesses and individuals to take additional safety protections or to avoid sending checks through the mail altogether.<\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/fortune.com\/2024\/07\/09\/retailer-bans-personal-checks\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Target will no longer accept personal checks from shoppers as of July 15, another sign of how a once ubiquitous payment method is going<\/p>\n","protected":false},"author":1,"featured_media":241374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[149],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/241373"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=241373"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/241373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/241374"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=241373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=241373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=241373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}