Use of checks in the country drops 93% since 1995 | Economy

The use of checks as a payment method continues to decline in Brazil. A survey by the Brazilian Federation of Banks (Febraban) shows that the drop was 93.4% when compared to the number of offsets in 1995.

In all, 218.9 million checks were cleared in 2021. In 1995, 3.3 billion were used. Statistics organized by the federation are based on the Check Clearing Service.

Last year was also the first full operation of PIX, an instant payment system created by the Central Bank of Brazil. Through it, 7 billion transactions were carried out with R$ 4 trillion in financial volume, and the reduction in the use of checks was 23.7%.

But, despite a significant reduction in the number of transactions, the financial volume transacted by checks was reduced in a much smaller proportion. In 1995, BRL 2 trillion was handled through checks, while last year the amount passed to BRL 667 billion, a drop of 67.4%.

However, the small difference compared to 2020 is more significant. With a reduction of almost a quarter in the number of transactions, there was a reduction of only 0.22% in financial volume, which had been R$ 668.4 billion.

“Bank customers have increasingly stopped using checks and have opted for other means of payment, especially digital channels, which are currently responsible for 67% of all transactions made in the country,” says Walter Faria in a note. , deputy director of services at Febraban.

Febraban also surveys the number of returned checks without funds transferred in the country. Last year, more than 18.6 million were returned, a share of 8.5% of the total checks cleared. Compared to 2020, there was a drop of 23.7%.

The checks returned without funds were 13.6 million last year, down 20.6% against 2020, when 15.2 million were returned.

With sick employees, stores and banks are even without working

With sick employees, stores and banks are even without working

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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