Lubbock, Texas– According to the Vice President of First United Bank, Dana Phillips, checks were used as a convenience method.
Phillips said, “People stopped wanting to carry around gold coins or mountains of cash. It was safer to keep it in a bank. And so you needed a way to access large amounts of funds rather than carrying it around.”
Phillips then explained to EverythingLubbock.com that writing checks was something everyone was doing up until the late 90’s.
Phillips said, “So you move forward into the mid to late nineties where debit cards and credit cards became widely accepted at retail locations, grocery stores, wherever, that became a lot easier to use.”
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And now as technology advances, there are more ways to pay for things such as Apple Pay, Google Pay and tap-to-pay options are available, Phillips said it’s the ease of convenience of having that available, with checks “is why you’ve seen that decline.”
Phillips says although businesses still use checks for bigger purchases, a Lubbock store owner says he doesn’t anymore because of a bad check.