ACH Now Leads U.S. Business Payments
Federal Reserve data shows checks have fallen behind electronic methods, though most businesses still use them.
Automated clearing house payments have become the most common way U.S. companies pay one another, surpassing checks in transaction count. The shift reflects a broader move toward electronic payment methods, with credit and debit cards also gaining ground between 2015 and 2024. Checks now rank fourth by payment volume, while wire transfers remain the least-used method by count.
The change is more striking in the dollars involved. ACH payment value reached $70 trillion in 2024, compared with $36 trillion in 2015. Check value held at $15 trillion. Wire transfers led by value, reaching $1 quadrillion in 2024 from $820 trillion in 2015, reflecting their role in larger transactions. Card payments also grew, but each remained at $4 trillion or less.
Checks have not disappeared. A separate industry survey found that 91% of respondents used checks in 2024, up from 75% the year before, and the Federal Reserve said nearly 90% of businesses still used them in 2025. The report links the decline mainly to less frequent check use, rather than businesses abandoning checks altogether. Check fraud, including mail theft and check-washing, has also increased in recent years.
- ACH payment value reached $70 trillion in 2024.
- Wire transfers totaled $1 quadrillion by value in 2024.
- Checks ranked fourth by payment volume.
- Nearly 90% of businesses used checks in 2025.
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