Banks launching checking accounts without the checks

65% of Americans either don't own a checkbook or prefer not to use checks

(CNN) – Check-writing is going the way of the dinosaur, but checking accounts are not. The latest item on the menu from banks: how about a checking account, hold the checks?

More banks are offering check-less accounts, as check-writing declines. A recent survey found 65% of Americans either don’t own a checkbook or prefer not to use checks. Instead, they’re opting for online or mobile payment tools.

Citibank is the latest bank to launch a check-less account. The new “Access Account” also makes it impossible to overdraw your account. If you don’t have enough money to make a purchase, the transaction just doesn’t go through. The new account will cost you $10 dollars a month.

You can avoid the fee by setting up direct deposit or maintaining a monthly balance of at least $15-hundred dollars.

Bank of America also offers a check-free account. And Chase has introduced pre-paid cards as an alternative to checks.

Banks have a reason to embrace the shift away from checks: they save money by not providing boxes of paper checks to customers. But if you still prefer checks, it’s unlikely they’ll be phased out any time soon.

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