In 2024, 137.6 million checks were compensated, indicating a reduction of 18.4% over the previous year
A (Brazilian Federation of Banks), on Thursday (23.Jan.2025), that the check continues to be used in Brazil, even with the advance of digital payment means. The previous year, 137.6 million checks were compensated in the country. The data, obtained through the Compensation Compensation Service, indicates a reduction of 18.4% compared to the previous year and a drop of 95.87% since 1995, when 3.3 billion checks were compensated.
FEBRABAN’s analysis shows that, despite the decrease in the use of checks, the financial volume moved by this means by 2024 was R $ 523.19 billion, which represents a drop of 14.2% over the previous year.
“Despite the growing dotalization of the bank client, the check is still widely used in Brazil. There are several reasons that still make this payment document survive: resistance from some customers with digital means, use in trades that do not want to offer other means of payment, use as a security for a purchase, as an option in locations with internet problems, between others”, Said Walter Faria, Deputy Director of Services at Febraban.
Data show that the check has been used for higher value transactions. By 2024, the average value of a check was R $ 3,800.87, above the average value of R $ 3,617.60 registered in 2023. This indicates that while smaller transactions are performed through Pix, checks are still used in higher value payments.
