U.S. Treasury Could Save $750 Million Annually by Eliminating Paper Checks

According to Odaily, the U.S. Department of Efficiency (DOGE) reported that the U.S. Treasury processed 116 million paper checks in fiscal 2024, incurring significant operational costs.In fiscal 2023, nearly $25 billion in tax refunds were delayed or lost due to bounced or expired checks, highlighting inefficiencies in the system. The Treasury Department’s lockbox network, which collects tax and passport payments, costs approximately $2.40 per check to maintain.