![](https://img.topnews.live/resize-4/photos/638561200186450686.jpg)
Target has announced that it will no longer accept personal checks from shoppers starting July 15, joining the trend of phasing out this once common payment method. The decision was confirmed by the Minneapolis-based retailer, citing the dwindling number of customers who still opt to pay by check. Target emphasized its commitment to providing a seamless checkout experience by offering alternatives such as credit and debit cards, 'buy now, pay later' services, and the Target Circle membership program which automatically applies deals at checkout.
The company stated that it has taken proactive steps to inform customers in advance about the upcoming policy change. With this move, Target joins other major retailers like Walmart, Macy’s, and Kohl’s, while Whole Foods Market and Aldi have already discontinued accepting personal checks from shoppers.
The decline in check usage has been evident since the mid-1990s, with the rise of cash-dispensing ATMs, debit cards, online banking, and mobile payment platforms like Venmo and Apple Pay. According to a Federal Reserve study from 2019, check payments decreased to 14.5 billion transactions valued at nearly $26 trillion in 2018, down by 3.6 billion transactions and $3.39 trillion in value from 2015.
During the same period, total credit card and debit card payments saw an annual growth rate of almost 9%, comprising 75.3% of core non-cash payments in 2018. Debit cards, both prepaid and non-prepaid, were utilized nearly twice as much as credit cards in terms of transactions, although the value of credit card payments exceeded debit card payments by almost 30%.
The reduction in check usage has allowed the Federal Reserve to significantly streamline its national check processing infrastructure. From operating 45 check-processing locations across the country in 2003, the Federal Reserve now runs only one processing center since 2010.