3.2 Million Checks Bounce in One Month in Brazil: 2% of All Checks Written

For every one thousand checks processed in Brazil in November of this year, 20.6 were returned for lack of sufficient funds in the accounts on which the checks were written.

This was the second highest rate registered by the Serasa, a Brazilian private financial data analysis firm, in the past 15 years. The record was set in March, 1991, when rubber checks amounted to 20.8 for every one thousand that were processed.

In the month-to-month comparison between November and October, returned checks were up 4.6%, from 19.7 bounced checks for every one thousand processed.

The total of processed checks in November in Brazil was 157.4 million, 3.2 million of which were returned for lack of sufficient funds. The figures for October were 157.8 million checks processed and 3.1 million returned.

According to Serasa’s analysis, the increase in bounced checks is attributable to the expansion of credit and the high interest rates charged by the market. Another factor identified as responsible is the acceptance of postdated checks by stores.

ABr

Tags:

  • Show Comments (1)

  • Guest

    A historical record….
    …that Lula, Palocci and Meireles will never mention in one of their self proclaiming great achievements.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

It Happened One Night in Brazil

What wasn’t natural was the jolt of electricity that I felt as I grasped ...

Brazil Blames Interest Rates for 13% Decline in Industrial Sales

Industrial sales in Brazil grew 2.03% last year, less than in 2004, when the ...

Brazilina Santos Dumont flies his La Demoiselle in Paris in 1907

Dumont’s and Wright Brothers’ Planes to Fly Side by Side in the US

This year is the centenary of aviation. But, after all, who invented the aircraft? ...

My turn

An old-time resident of Diadema tell his side of the story. By Elma Lia ...

Brazilian Minister Calls for a New Culture to Foster Research

Brazil’s Minister of Science and Technology, Sérgio Machado Rezende, called for a change in ...

From Now On, Concession Is Out, Sharing Is In for Brazil Oil

Brazil’s new rules for exploration and production of oil in the subsalt layer maintain ...

Air Force Brigadier Calls Lula and the PT Brazil’s Biggest Gang of Outlaws Ever

For the third time since the beginning of Lula’s campaign for reelection former members ...

Brazil Wants to Know if Facebook and Google Are Involved in Spying the Country

The Brazilian government started an inquiry into whether telecommunications companies operating in Brazil cooperated ...

Brazilian Consumer’s Confidence Drops 2%

Brazil’s Consumer Confidence Index, calculated each month by the Getúlio Vargas Foundation (FGV), fell ...

Closer Ties Between Brazil and Arab World Bring Literature to Forefront

Brazilian Arab warmer relations have already translated into an expansion of cultural exchange between ...