Does Walmart Accept Checks as a Payment Method in 2024?

Walmart, the largest retailer in the world, processes over $500 billion in payments each year. With fraud on the rise, retailers must balance convenience and security in their payment methods. Many Walmart shoppers wonder, does Walmart accept checks in 2024?

The State of Check Usage in 2024

Check usage has declined over the past two decades, but they still remain popular with certain demographics. According to the 2022 Federal Reserve Payments Study:

• Checks accounted for 8% of retail transactions under $10 in 2021
• People over 50 are 5 times more likely to use checks than those under 29
• 15.8 billion checks were paid in the United States in 2021

However, with the rise of digital payments, checks are expected to continue declining by 20% or more over the next decade.

Overview of Walmart‘s Check Payment Policies

Walmart continues to accept valid checks as payment in their stores as of 2023. However, in recent years they have implemented stricter policies to reduce fraud incidents.

Here are the key things to know about paying by check at Walmart:

• Photo ID required – The name on the check must match a valid, government-issued photo ID
• Third-party verification – Checks are verified through TeleCheck or Certegy to screen for risks
• Limited check types accepted – Only US dollar checks from US banks are permitted
• Cash back allowed – Up to $20 cash back can be requested when paying by check

Walmart has posted signs and trained employees on check verification procedures. They scan over 99% of checks as an anti-fraud measure.

Analyzing the Pros and Cons of Accepting Checks

There are advantages and disadvantages to Walmart accepting check payments in retail stores:

Pros

• Added convenience for customers used to paying by check
• Caters to older demographics that frequently use checks
• Provides non-cash payment option if debit/credit cards are unavailable

Cons

• High risk of fraudulent/bounced checks – 1.1% check fraud rate in 2020 per Nilson Report data
• Costs of verification fees and potential insufficient funds fees
• Slower checkout process compared to card payments

On balance, Walmart seems to view check acceptance as an important convenience for their customer base, while managing risks through tight ID verification policies.

Walmart Check Policies vs. Other Major Retailers

Among top retailers, policies vary on accepting check payments. Target stopped accepting checks back in 2016 to speed up checkout times. Costco still accepts checks like Walmart, but also requires photo ID verification.

Conclusion: What to Know About Paying By Check at Walmart

Walmart continues to accept checks as a payment method in 2024 for added customer convenience. However, valid photo ID is required and checks undergo third-party verification to limit fraud risk.

It‘s wise to follow all Walmart‘s check policies closely to avoid declined payments or extra fees. Be aware that other major retailers like Target no longer accept checks at all. Overall, paying by check is still an option for Walmart shoppers but involves more steps than payment cards or digital wallets.