Trend: No Longer Accepting Checks

[lin_video src=http://eplayer.clipsyndicate.com/embed/player.js?aspect_ratio=16x9&auto_next=1&auto_start=0&div_id=videoplayer-1370404128&height=360&page_count=5&pf_id=9620&show_title=1&va_id=4084397&width=640&windows=2 service=syndicaster width=640 height=360 div_id=videoplayer-1370404128 type=script]

MASON CITY, IA – It’s not out of the ordinary to see more signs that read “Checks no longer accepted.”

And one local banker says that trend may continue.

Mason City Kum and Go Gas Station’s is just one of many that have a sign posted up reading “no longer accepting checks.”

But this isn’t necessarily something new.

CEO and Manager of Iowa Heartland Credit Union, Cindy Stephenson, says every year they see fewer people ordering checks and less businesses that accept them

She tells us, it has to do with the how fast transactions, like those used with debit cards, are authorized.

“More and more you’re seeing places that will just not accept a check because when you go to swipe your debit card you get an authorization right away so more and more merchants are using it,” said Stephenson.

Stephenson says she doesn’t think checks will disappear quite yet though.

She says many people still rely on being able to physically hand someone their money.

blog comments powered by Disqus