Twenty years ago, it was the preferred means of payment for the French. Today, its use has declined enormously: the check only represents 3.9% of transactions carried out (compared to 11% in 2015), far behind the bank card (56.9%).
However, it is far from having disappeared and its use remains at a very high level compared to the few countries where it still exists. “Out of ten checks made in Europe, eight come from France,” recalls Catherine Boidin, head of means of payment for individuals at BNP Paribas.
1.1 billion check payments in 2021
Why is this precious piece of paper resisting in France? First, for a regulatory question. “The Banque de France requires establishments to provide their customers with a free means of payment, and it specifically designates the check”, underlines Céline Gonzalez, head of checks for individuals at BNP Paribas.
The customer who does not wish to benefit from a booklet has the possibility of refusing it. But in practice, this document is requested on many occasions, for example for children’s school outings, a vacation reservation, or at the doctor’s. “Every time I see my dentist, I put myself a memo take my checkbook, because I know that I will not be able to pay otherwise”, laments a 50-year-old who would like to part with it.
Result, at a time when consumers can pay contactless via their smartphone or even their connected watch, the check still represented 1.1 billion payments in 2021. An argument could however contribute to its disappearance. “It is the most defrauded means of payment since it represents 37% of fraud, for an average amount of 1,948 euros”, insists Sophie Liotier, from the educational site La Finance pour tous.
The types of scams vary widely, from checkbook theft to mule fraud. “A person asks you to cash a check in exchange for cash and, a few days later during the verification by the bank, you realize that it is a fake”, illustrates Sophie Liotier.
The Banque de France recently warned individuals about the existence of false checks in circulation, on which it appears as the issuer’s bank. If your interlocutor gives you such a document to pay you, beware of the scam. Because individuals can no longer hold an account with the Banque de France since 2021.