In recent years, the role of commercial checks in business payments has undergone significant transformation. Although their overall use has decreased, the value of individual check payments has risen substantially. This pattern indicates that checks, despite becoming less frequent, still play a crucial role in high-value transactions. Their ongoing presence often signifies enduring financial practices, legacy systems, or business relationships that have not yet fully shifted 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 offers an in-depth analysis of the $175 trillion in commercial payments flowing through the U.S. economy, categorized by industry. It showcases which payment methods are most prevalent, how economic changes impact behavior, and where emerging options like Same Day ACH and virtual cards are gaining ground. Leveraging data from sources such as the Federal Reserve, IRS, and Census Bureau, the analysis provides trustworthy insights into the structure and direction of the commercial payments landscape.

Key benchmarks including DPO, DSO, inventory days, and funding gaps offer a clearer perspective on liquidity pressures across different sectors. The report also explores trends such as the growing influence of fintechs and smaller banks, the rise in commercial card usage, and the effects of external factors like tariffs. Whether you are involved in product development, market sizing, or go-to-market planning, this resource offers valuable guidance for navigating today’s complex business payments environment.