Bounced check index up for 11th consecutive month in November

Monday, December 19, 2011

The number of bounced checks in Brazil as a proportion of all checks written increased in November for an 11th consecutive month, to 2.19% from 1.68% a year ago, credit information firm Serasa Experian said in a report.

The month-on-month increase was 0.27 percentage points compared to October's 1.92%. The index over January-November was 1.95%, compared to 1.77% in the year-ago period.

According to Serasa Experian, the index is usually high in November, due to the convergence of checks written months in advance to pay for gifts for Children's Day, celebrated in November, and the beginning of Christmas purchases.

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The firm added that the November index was affected by a lack of control procedures at some retailers to evaluate clients' credit capacity.