In recent years, the role of commercial checks in business payments has evolved significantly. While their overall use has declined, the value of individual check payments has increased markedly. This trend suggests that checks, though less common, continue to serve a specific function in high-value transactions. Their continued use often reflects long-standing financial practices, legacy systems, or business relationships that have yet to fully transition to digital payment methods.
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Data for today’s episode is provided by Javelin Strategy & Research’s Report: Commercial Payments Factbook
The Average Value of Commercial Checks
- In 2015, the average commercial check value was $2,438.
- In 2018, the average commercial check value was $2,938.
- In 2021, the average commercial check value was $3,601
- For 2024, the estimated average commercial check value is $4,533.
Source: Federal Reserve, Javelin Strategy and Research analysis
About Report
This report provides a detailed view of how $175 trillion in commercial payments flow through the U.S. economy. Organized by industry, it highlights which payment methods are most widely used, how economic shifts are influencing behavior, and where emerging options like Same Day ACH and virtual cards are gaining traction. Drawing from sources such as the Federal Reserve, IRS, and Census Bureau, the analysis offers reliable insight into the structure and direction of the commercial payments landscape.
Key benchmarks—including DPO, DSO, inventory days, and funding gaps—offer a clearer picture of liquidity pressures across sectors. The report also examines trends like the rising influence of fintechs and smaller banks, the expansion of commercial card use, and the impact of external factors like tariffs. Whether you’re focused on product development, market sizing, or go-to-market planning, this resource offers valuable guidance for navigating today’s business payments environment.
