Suddenly? Nothing sudden about it been going around for years.
As for why it’s because it’s super easy and if someone gets one of your checks they have your full routing and account number on the bottom which can be easily used to make a fake one or initiate an ach or something. Since its old technology that for some reason banks refuse to update, you get a credit in your account within a few days of deposit while the actual account holder has time to notice they’ve been robbed or their bank has time to catch any obvious fake checks. In the meantime the fraudster is already free and clear with however many giftcards they got.
Suddenly? Nothing sudden about it been going around for years.
From the article:
[In 2022], banks issued about 680,000 reports of check fraud, nearly double what they reported in 2021. And one expert predicted total check fraud will hit $24 billion in losses this year, roughly twice what it was just five years ago.
We (76 and 60) shop with our plastic (credit, never debit). Next cash if it is hand-to-hand, or we can get a receipt. Otherwise check, but we don’t carry a checkbook. I may do PayPal, Venmo, or Zelle, but only if I know you personally – if you’re dealing with my spouse, you’d better take a check or plastic or wait for me.
to the detriment of literally everyone else.
How so? It’s an option. The other option may be “no sale.” We grew up on these and we understand them. All the high-tech ways are ever-changing, and we’re never sure where we stand with them.
It’s because digital payment methods are almost completely owned by private entities here that charge fees for processing. Checks don’t incur those costs, so people stick with them.
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