Use of checks in Brazil has dropped 93.4% since 1995

A Febraban survey also points to a decrease in financial transactions, which went from R$2 trillion to R$677 billion in 26 years

Itaci Batista/Estadão Content
Last year, the number of bounced checks was 18.6 million, representing 8.5% of the total.

or use of cheques 23% left in 2021 and 93.4% in the accumulated since 1995, according to a survey by the Brazilian Federation of Banks (Febraban). Last year, 218.9 million checks were cleared, a considerable difference compared to 1995, when the mark surpassed 3.3 billion. The data also point to a reduction in the financial volume of checks and in the number of returned documents. In 1995, the volume totaled BRL 2 trillion, while in 2021, it was BRL 677 billion, which represents a drop of 67.4%.

Also last year, the number of returned checks was 18.6 million, representing 8.5% of the total. In 1996, the beginning of the historical series, 63.5 million returns were recorded. This scenario is due to the advancement of the means of digital payments, such as internet banking and Pix. The new custom made the check fall into disuse. The digitalization of the banking system received an important boost with the entry of Pix, which already has the support of 71% of Brazilians. In one year of operation, there are more than seven billion transactions registered, moving BRL 4 trillion.

*With information from reporter Daniel Lian

Disclaimer: If you need to update/edit/remove this news or article then please contact our support team Learn more