Episode Details

Despite the push for digital payments, Americans still write over 9 billion paper checks annually—worth $24 trillion—averaging two checks per person monthly. While government agencies like the Treasury and IRS are accelerating the shift to electronic payments, experts argue checks remain vital for large, infrequent transactions and cost savings on fees. Professor Jay Zagorsky contends checks still serve a real purpose, especially for expenses like funerals, and warns against their complete elimination, comparing it to ditching the penny.

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