As of today, I have used enough checks to finally reach my last checkbook. These were the first set of checks I ordered when I started my checking accounts years ago – as a teenager after having gotten my first part time job.
Over time, other than an occasional application, I do not use checks. The only payment that requires a check is rent, but that can be done by Bill Pay services. The check’s function to reduce shoe leather cost (i.e., walking to the bank to get money to keep for buying goods) has largely been replaced by credit cards. I cannot remember the last time I see anyone (the proverbial old woman or otherwise) uses a check at the grocery store.
Besides conducting monetary policy, one of the many other functions of the Federal Reserve is to process checks. Over time, the facilities to do this work has shut down because the fall in its usage. Here are few links relating to that function and its transition from paper checks, should this all be news to you:
http://www.federalreserve.gov/paymentsystems/check_about.htm
http://www.frbservices.org/check/index.html
http://www.federalreserve.gov/paymentsystems/check21_faq.htm
For posterity, the order forms for new checkbooks! It is good to see that the company who printed my check is still in business (website).
