Government defines which customers may have their corporate name printed on check sheets

[ad_1]

To provide more security and flexibility, BC approved changes to the check model, which will be defined by financial institutions holding demand deposit accounts. The Central Bank informed this Friday (5) that it approved, together with the National Monetary Council (CMN) – also formed by government ministers –, two resolutions that review, consolidate and improve the regulations on the use of checks. Among the novelties, which come into effect from October 2, is the possibility for customers to have their corporate name printed on the check sheet, similarly to the practice established in the PIX (real-time transfer system). “Those interested in having their social name on their check sheets should contact the financial institutions with which they have a relationship to find out how to proceed”, informed the Central Bank. After an ordinance by the Superior Electoral Court (TSE) in 2018, transgender and transvestite people are now entitled to include their social name on their voter registration card. The measure considered the self-declaration sufficient for issuing the document, not being necessary to present another official document with the corrected name or proof of gender adequacy surgery, for example. The Federal Revenue Service, for example, allows the use of social name since 2017 – see the article below: Revenue now allows social name, in addition to the registration name in the CPF Changes in checks With the changes approved, according to the Central Bank, the standard check model is now agreed upon by financial institutions holding demand deposit accounts. The measure, informed the BC, aims to provide more security, flexibility and provide innovations to the use of the payment instrument. “Before this definition, it was up to the Central Bank and, now, it will be the responsibility of the financial institutions, through self-regulation of the market itself, to define aspects related to this standard model”, he explained. Use of checks According to information from the Central Bank, the use of checks has declined in Brazil in recent years. In 2011, 1.5 billion transactions were carried out through this instrument. Already in 2021, the last data available for a closed year, the volume had retreated to 313 million operations. At the same time, PIX, BC’s real-time transfer system, inaugurated at the end of 2020, had 9.5 billion transactions in 2021 – second only to debit cards (13.5 billion transactions) and credit cards (12.6 billion transactions) that year.

[ad_2]

Source link