Can you continue to pay by bank check in Spain?

The bank check is a payment method that, although it was very present in the business world in the past, today it has been completely relegated to the background.

Specifically, it was used as a means of payment to pay large amounts of money, for example, when buying a home. Nevertheless, its use is becoming more and more rare.

“In 2021, processed 24 million checks with an average amount of 7,665 euros, which represent 0.95% of all operations carried out through the national payment system (SNCE)”, they explain from the Bank of Spain blog.

This figure contrasts a lot and is far from the almost 60 million checks that were cashed in 2012precisely 10 years ago, which shows the evolution of payment systems thanks to new technologies, although the reduction in their use has been constant since before the entry of the euro.

The reason the check is no longer used

The main reason why the bank check is no longer used as a payment method when paying large amounts of money is, without a doubt, the competition that the cards suppose.

To this is added the competition that transfers also entail immediate for smaller checks, which is why the average amount per transaction increases.

However, we must know that “the check is still reluctant to abandon us”, which means that can still be used as a payment method.

The same has not happened in other countries in the economic environment, where it has completely disappeared: “According to the payment statistics published by the ECB, in a total of 15 EU countries its use is testimonial or zero. France is the country where it is used the most, although it shows a notable decrease, followed, far behind, by Italy, Portugal, Spain and Ireland,” concludes the ECB.

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