[jerlam]

Most people don't know anything about how the banking system works. Anything beyond "you put your money in it, and you can take your money out with an ATM" is lost on most people. Checks are even more nebulous - it's an IOU that might be valid, or might not be. I still don't know why "post-dated" checks exist, or why my scribble on the back of a check suddenly makes it transferable.

Over 20 years ago, I bought and sold many items through online forums, and checks were common forms of payment. The prevailing advice was to wait a week or so after deposit for the check to "clear", meaning it was valid. Most young people have never used checks and have never been given this advice.