As of October 2, checks will adopt a new standard, as announced by the Central Bank. The measure aims to modernize and make the use of this payment instrument safer, making it more difficult to forge checks.
One of the main changes is the transfer of regulation of the standard model of checks to financial institutions, instead of being the responsibility of the Central Bank. Financial institutions will have to communicate the adjustments to the BC 30 days in advance before implementing them.
Another novelty is that the use of the social name on the checkbook pages will be allowed, as is already the case with Pix. The user can contact their bank to request this option.
The Consultative Group for Clearing Matters (Grupo Compe), set up to issue an opinion on issues related to the check clearing service, will have the Central Bank as an observer instead of a permanent member. The BC representative will participate in group meetings and activities only when necessary.
Despite the decline in the use of checks over the years, the BC registered a significant movement of money through the modality in 2021 and 2022.
