How many Americans have checking accounts?
Writing a check is a common experience shared by Americans of all backgrounds and income brackets. According the Federal Reserve Board’s DFI check study the average American household writes 19 checks a month. In 1998, the Board of Governors of the Federal Reserve System said that nearly 90 percent (87 percent) of all U.S. households have a checking account (Board of Governors of the Federal Reserve System, 1998, Survey of Consumer Finances for 1998, Washington DC: Federal Reserve System.) Q: How popular are checks in the United States compared with other countries. A: In the United States, consumers have spoken and they want to keep their checks! American consumers continue their love affair with the checks like no one else. The United States is the only major economic powerhouse to experience a growth in total check volume and value during the 1990s (Federal Reserve Bank of Chicago, Economic Perspectives 30/2002 “Why do we use so many checks?”).
