Returned checks fell to 2.1% in August

Sao Paulo-the number of checks returned for the second time by lack of funds fell to 2.13% of the total moved in August, shows a survey published on Monday, 19, by Boa Vista SCPC.
The result represents a fall in the margin, in July the level stood at 2.21%, but is higher than the August 2015 (2.07%).
In absolute terms, 1,101,930 checks were returned in August, which represented an increase of 5.6% in comparison with the previous month.
But, according to Boa Vista SCPC, bustling checks grew into a larger proportion (9.6%) and reached 51,704,060, which led to the fall.
Year to date, the volume of returned checks in relation to total busy reached 2.31%, compared to 2.15% over the same period to 2015.
It was the highest level for the accumulated in eight months of historical series started in 2006. Cheques returned 7.1 percent and retreated checks moved fell 13.7%.
Also in the year, bounced checks of individuals decreased by 8.1% and of legal persons retreated 4.1 percent.