Bounced check index up for fifth consecutive month in May - Serasa

- Friday, June 17, 2011

Bounced check index up for fifth consecutive month in May - Serasa

The number of bounced checks in Brazil as a proportion of all checks written increased in May for the fifth consecutive month to 2.00%, from 1.86% in the same month last year, but remained stable in a monthly comparison from April, credit information firm Serasa Experian said in a report.

According to Serasa economists, bounced checks rose in May as the use of predated checks increased in the month, as people tried to avoid the impact of interest rates hikes, as well as seasonal factors, such as mother's day.

Overall for January-May, the bounced check index rose slightly to 1.93% from 1.90% in the year-ago period, as lower use of checks outweighed increased indebtedness among consumers, the firm said.

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