The check is dead! Long live the check! A Check 21 update

Paul Bauer () and Geoffrey Gerdes

Economic Commentary, 2009, issue Jun

Abstract: Check 21 legislation has enabled the check clearing system to transform from paper to electronics, and much more rapidly than some had predicted. As a result of competition with other payment methods, check use has been declining since the mid-1990s, but because of the rapid adoption of electronic payment methods, checks are evolving and are unlikely to disappear anytime soon. Checks are still a convenient way to initiate some payments, and electronic processing has only made them more competitive with all types of electronic payments.

Keywords: Checks; Electronic funds transfers (search for similar items in EconPapers)
Date: 2009
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