Retail giant Target will stop accepting personal checks starting next week, the newspaper confirmed to The Hill on Monday.
“Due to extremely low volume, we will no longer accept personal checks starting July 15. We have taken several steps to ensure an easy and efficient checkout experience that we will communicate to customers in advance,” a Target spokesperson said in a statement.
A Target spokesperson said the company continues to accept a variety of other payment methods, including Target Circle Cards, cash, digital wallets, SNAP/EBT, credit cards, debit cards and “buy now, pay later” services.
The start date for the changes is July 15th, following the company’s annual report.Target Circle Week SaleFrom July 7th to 13th.
The use of personal checks has declined in recent years, with a study published last February showing that By GOBankingRates It turns out that 46 percent of Americans haven’t written a check in the past year.
For 2023, personal checks will account for just 3% of payments in 2023, down from 4% in 2022 and 2021 and 7% in 2020. According to the data From Federal Reserve Bank Financial Services.
This movement, Aldi and Whole Foods Market, Both banks are among a string of retailers that have stopped accepting personal checks.
