Quick E-Check Statistics

• The real costs of processing paper checks is between $0.75 and $3.00 each, with an average of $1.22--with PaySimple it cost only $0.55 each, on average a savings of 55%!
• The United States relies on paper checks more than any other industrialized nation, with check volume peaking in the mid-1990s. Since those peak years, check volume has been declining.
• Due to accelerated processing times and return notification to the payee, the check conversion process results in fewer returns, earlier fraud detection, and fewer errors.
• In 2004, the number of checks converted to ACH increased nearly six-fold over 2003 with total transactions at more than 1.25 billion payments.
• There is an environmental impact to using paper checks. In addition to the natural resources used to manufacture and print paper checks, processing the checks relies heavily on our nation's transportation systems, including trucks and airplanes. It takes a considerable amount of fuel to ship our country's millions of checks each year between companies, financial institutions, and customers.

Source:electronicpayments.org