Since 1995, use of checks in Brazil has been reduced by 93%

With the advancement of technology, the use of checks fell by 93.4% among Brazilians. The method of payment that was once the most traditional in Brazil has reduced significantly since 1995. The survey released by the Brazilian Federation of Banks (Febraban).

The downward trend continues to grow and has not stopped in the last 26 years. For example, in the year 2021, the volume of offsets fell by 23.7%. But that doesn't mean the checks will go out. Also last year, 218.9 million check sheets were cleared across our country, in addition to adding 287.1 million in 2020 and hitting 3.3 billion in 1995.

Another index that fell was the financial volume of check transactions. In 1995, the amount handled was BRL 2 trillion, and the amount dropped to BRL 668.4 billion in 2020 and BRL 667 billion in 2021. In addition, the number of bounced checks dropped from 56.8 million in 1997 to 15.2 million in 2020 and 13.6 million in 2021.

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According to information from Febraban, electronic means of payment have gained the preference of Brazilians, so much so that digital channels currently account for 67% of transactions carried out in the country. Not to mention that with the launch of

Since the launch of Pix, the instant electronic transfer system has registered 7 billion transactions and generated BRL 4 trillion. Febraban announced that the tool has the support of 71% of Brazilians, with approval jumping from 76% to 85%.

Source: Agência Brasil

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