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:

You May Also Like

Chavez Rewards Brazil with a US$ 1 Billion Deal for Venezuela’s Mercosur Entry

The president of Brazil Dilma Rousseff and her colleague Hugo Chavez of Venezuela signed ...

Brazil Sets Record in Vehicle Production: 213.400 Units in May

Export earnings from sales of vehicles, agricultural machinery, auto parts, and motors rose 33.8% ...

After 7.5% Growth, Brazil’s Per Capita Income Reaches US$ 11,500

In Brazil, per capita income rose 6.5% last year, reaching 19,016 reais (US$ 11,490) ...

Music for Grownups

Hungry for some truly original Brazilian music? Go listen to Arthur de Faria’s latest ...

Defending Brazil’s 1 Million Dam Victims

Brazil’s Movement of Dam Victims (MAB), as the name itself expresses, is a social ...

US Tour Operator Sued for Selling Sex with Minor Indian Girls in the Brazilian Amazon

Four Brazilian Indian women, allegedly sex trafficked as minors by an American fishing tour ...

Brazilian TAM Airline Reaches 58% of International and 51% of Domestic Markets

Brazil’s National Civil Aviation Agency (ANAC) announced that TAM Brazilian Airline registered 28.1% growth ...

Brazilians Will Be 238 Million by 2030

In 2030, Brazil is expected to have 237,7 million inhabitants, a growth of 39,6% ...

How I Taught English in Brazil and Survived to Tell the Story – Lesso

If you are a clock-watcher or a nitpicker and want to be an English ...

Defending the Amazon

Cavalcanti is the author of three projects proposing a referendum, as the Constitution determines, ...