Bounced checks in Türkiye surge over 112% in September, exceeding 25,500

The number of checks returned due to insufficient funds increased by more than two-fold in September, according to data from the Central Bank of the Republic of Türkiye (CBRT).

The Takasbank Check Clearing System reported a 112% increase in bounced checks, rising from 12,030 in August to 25,523 in September.

The total value of bounced checks also saw a significant jump, climbing from ₺7.95 billion ($232 million) in August to ₺15.26 billion ($445.8 million) in September.

Substantial rise in check activity

The total number of checks presented in the system rose sharply as well. In September, a total of 1.41 million checks were submitted for clearing, compared to 613,636 checks in August.

The total value of these cheques increased from ₺353.2 billion ($10.3 billion) to ₺596.3 billion ($17.4 billion) over the same period.

Additionally, the number of checks processed for clearing between banks, known as net settlement checks, increased from 582,201 in August to 1.35 million in September.

The value of these checks also saw a similar rise, reaching ₺548.6 billion ($16 billion), up from ₺325.1 billion ($9.4 billion) in August.