In a recent announcement, Target has confirmed that it will stop accepting personal checks as a form of payment in its stores starting on July 15. The nationwide retailer cited “extremely low volumes” of check usage as the primary reason for this decision, according to a statement released by the Minnesota-based company.
Despite the significance of this change, Target did not make a public statement on its website as of Sunday, just days before the policy was set to take effect. According to Scripps News, they reached out to the company for further clarification but did not receive an immediate response.
Reaction to payment change
The move has sparked uncertainty among social media users. For instance, a post on Reddit highlighted concerns from individuals, particularly regarding elderly customers who have relied on checks for decades. One user shared that their elderly mother was unable to use a check at a Target store, prompting them to seek answers from the Reddit community.
- Target’s Announcement: Confirms the cessation of personal check payments.
- Reasons Cited: Extremely low check usage volumes.
- Public Response: Mixed reactions on social media, especially from long-time check users.
As the deadline approaches, shoppers are encouraged to prepare for this change and explore other payment options available at its stores.
The message was posted months before the July 15 date that the company confirmed to some media outlets.
The Rise of ACH Transfers
In a study conducted by the Federal Reserve on the use of payment methods by 2022, the central bank highlighted a significant shift in consumer behavior. According to the Fed’s report, ACH transfers had surpassed the use of checks, becoming the highest-value non-cash payment method as early as 2009. By 2021, ACH transfers accounted for at least 72% of the “core non-cash payments value.”
Target’s Payment Options
Target has been proactive in promoting various payment methods for both in-store and online purchases. Some of the options include:
- Target Circle Cards (formerly known as Target RedCard)
- Cash or SNAP/EBT cards
- The company’s buy now, pay later services
- Debit or credit cards
Continued Acceptance of Personal Checks
As of Sunday, July 7, the company still listed “personal checks” as an accepted form of payment on its website, showcasing the company’s commitment to offering a diverse range of payment options to its customers.
