Banco de Cabo Verde
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Check

Legal System

A check is a payment order given by an account holder, or his/her representative, to the depository credit institution to pay a particular amount to the lawful payee.


Payment Obligation

Credit institutions are obliged to pay any check from a book issued by them for an amount not exceeding 2,000 escudos, notwithstanding the lack or insufficiency of funds.


Penal System


Restrictions

The need to honor and promote the use of check as a means of payment, with the creation of regulatory mechanisms, has been a constant concern of Cape Verde’s banking system, notwithstanding the fact that check continue to play a residual role and the system’s development indicates the prioritization of electronic means.