Target Will Officially Stop Accepting Personal Checks for Payment, but Here 9 Times It's Still Worth It to Write One

While cash-back credit cards and digital wallets dominate today's spending landscape, checks haven't gone extinct — in fact, they offer unique advantages in some situations. 

However, don't bother bringing your checkbook to Target. The retailer will no longer accept personal checks for purchases starting July 15, citing extremely low volumes.

Before relegating your checkbook to the back of your desk drawer, consider these scenarios where checks might be your unexpected financial allies. Despite the decline in check usage, with consumer use dropping to just 3% of payments in 2023, checks can still be beneficial in specific circumstances. 

Notably, Target will continue accepting personal checks by mail for Target Circle Card payments even if it's phasing them out at its registers.

While Target and retailers like Aldi and Whole Foods Markets move away from accepting checks, there are still a few scenarios when your checkbook may come in handy.

A check is a smart money move if you want to create a paper trail for payments if you need a transaction record or want to trace the payment.

For example, you might want to use a check for things such as the down payment for a home, a deposit in a retirement account or investment fund, or to confirm you paid your taxes.

Most experts recommend against sending cash through the mail. A check is a much better option.

A check is more secure; you can stop payment if it's intercepted before getting to your recipient.

Contractors, landscapers, and other service providers usually prefer receiving a check or cash. Some self-employed folks might not even have the option to accept credit card payments.

From your perspective, using a check to pay for these services gives you a paper trail in case of any dispute.

When you make a down payment on a car or house, there's little chance you'll be allowed to pay in cash or use a credit card. A check remains the preferred method of payment.

Just note that in many cases, you might need to get a cashier's check from your bank for these payments rather than writing a personal check.

Personal checks take time to clear. So, a check can be the way to go if you need a day or two of grace before the money disappears from your account.

This is particularly true if you are mailing a payment, where it will likely take several days or more before the money disappears from your account.

If a family member or friend needs money — but not right away — you can write a check now, and they can hold it for weeks or even months before cashing it at their convenience.

Just be aware that some banks might be wary of cashing a check that’s more than six months old.

If you're nervous that your credit card information or identity will be stolen and used for crooked purposes, you might prefer paying with a check.

It's not always easy to keep your private information private, especially when a third party, such as a retailer, is hacked and your credit card information suddenly becomes available to shady folks.

Some businesses or organizations will take your credit card payments for a transaction but pass the credit card fee on to you.

Instead, you can write a check to pay for things like rent or taxes to avoid the additional fee.

Businesses have to pay processing fees for each credit card transaction. That is why some small businesses don’t even accept credit cards.

If you believe in helping out small businesses, paying with a check might help your favorite local business by allowing it to avoid paying a transaction fee on a credit card purchase.

From building trust with small businesses to managing finances with a paper trail, checks remain relevant tools for the savvy spender.

So, compare the top checking accounts and reacquaint yourself with the humble checkbook. You might be surprised at how it can complement your modern financial toolkit.