July 27, 2026
The National Desk recently published an article featuring Jay Zagorsky, Associate Professor of Markets, Public Policy and Law, discussing the continued role of paper checks in the U.S. banking system. Drawing on Federal Reserve data, the piece notes that Americans wrote 9.2 billion checks worth $24 trillion in 2024, underscoring that paper checks remain widely used despite their long-term decline.
While the federal government is phasing out paper checks and many retailers no longer accept them, Americans continue to rely on checks for larger purchases, where they can help avoid credit card convenience fees. Zagorsky notes that “Americans are still using checks, but for fewer and bigger purchases.”
The piece also explores why checks remain popular among small businesses and individuals managing significant expenses, citing their ability to simplify recordkeeping while reducing transaction costs. The United States is an international outlier, with countries such as Germany and Australia planning to eliminate paper checks in the coming years.
Despite declining everyday use, paper checks continue to serve a practical purpose for larger transactions, suggesting they are unlikely to disappear anytime soon.
