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Fewer cheques processed for January to September 2023

Fewer cheques were processed in the local economy for January to September 2023, compared to the previous year.
 
The BOJ's annual report shows that for the period, 2.3 million cheques were processed through the Automated Clearing House.
 
There were valued at $392 billion.
 
The central bank says these outturns reflected 445,000 drop in the number of cheques compared with January to September 2022.
 
The value of the cheques processed fell by 9.3 per cent or $40.2 billion.
 
The BOJ says the decline in cheques processed can be attributed to the Automated Clearing House (ACH) limit being $1 million.
 
The average transaction value of cheques processed was $167,000, versus $154,000 for the comparable period in 2022.


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