Speaking from personal experience, as a 20-something year old, I’ve witnessed at least 15 different people my age say “I don’t know how to write a proper check.” And this number has been increasing lately. It’s not surprising considering how many alternatives to checks there are, checks seems like more a novelty than an everyday habit for today’s younger generation.
New research released by the Federal Reserve states that “the number of checks paid declined more than 50 percent since 2000.” Electronic and card payments, on the other hand, tripled in the same time, according to The Washington Post.
These numbers make sense, Google Trends data has tracked a spike in users searching “how to write a check” between 2004 and today – and the increase happens to be right around the back-to-school months (presumably when young adults are moving off campus and looking to rent their own place.)
The market is slowly but surely phasing out checks, it can’t be denied. This is why RentMoola’s user base has been increasing so quickly. RentMoola allows users to pay their rent online, anywhere, anytime. And with the ability to setup recurring payments, RentMoola users can virtually forget about their rent payments altogether.
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