Like ATMs and money orders, depositing checks will likely be around for a while.

You can even handle your paychecks with direct deposits without manually cashing them.ĭepositing checks might not be as standard as it used to be, but it’s still something that you should know how to do. Credit cards and debit cards don’t usually require account numbers or routing numbers to buy things. There are many more efficient ways to make purchases or transfer money to another account. Physical checks will likely only continue to become rarer - most credit unions and member-FDIC banks will likely follow the trend and move toward electronic check-cashing, utilizing check-cashing apps and mobile banking apps that clients can use on their mobile devices. While that might sound like a lot, it’s way less than the average of about 75 million collected daily in the early 1990s.

Physical checks are much less common in everyday life than they used to be - in 2021, the Federal Reserve only collected an average of 14.5 million daily checks.

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