Australia is planning to phase out cheques as a form of payment, with the last cheques set to be cashed by 2029, and banks ceasing to issue or accept them by 2028.
In Brazil, while check usage is down, it still constitutes 0.5% of all financial operations, with over 500 billion BRL still exchanged via check annually.
Moves to phase out checks as a form of payment have been made in New Zealand and also face scrutiny in the US due to the unbanked population (1.4 billion people globally) that still rely on them.
Checks are a safe and traceable method of payment, and are also useful as a tangible dated record of payment that can be important in legal disputes.
Writing a check also allows you to determine when funds leave your account, unlike digital transfers which usually happen instantly and without your say so.
Checks do not usually involve additional fees, beyond the cost of the checkbook itself.
Additionally, giving a check can be safer than carrying large amounts of cash, and also allows the payer to decide when funds leave their account.
