Bounced Check


Also found in: Legal, Idioms.

Bounced Check

A check from which funds are not transferred because there are insufficient funds in the payer's account. For example, suppose Joe writes a check to Bob for $500, but there is only $400 in Joe's checking account. When Bob deposits the check, his bank will refuse to credit the $500 to his account, because Joe's bank will advise that Joe does not have enough money to honor the check. In this case, the check is called a bounced check. In the United Kingdom, the common term is an unpaid cheque.
References in periodicals archive ?
in the categories of highest ATM and bounced check fees as well as the lowest ATM and bounced check fees.
The CFPB also said the law required the company to inform consumers of their right to dispute any alleged bounced check violations.
The process is simple: find the transaction that originally recorded the receipt of the check and select the icon "Record Bounced Check.
Abdel Fattah was sentenced in absentia over the bounced check, which is why he is wanted by the police.
The Community Financial Services Association of America, an industry group, did the math on the rates incurred with other options, and finds that a $100 bounced check garners a $54 fee, which comes out to an annual percentage rate of 1,409, and a $37 late fee on a $100 credit card balance amounts to an annual percentage rate of 965 percent.
If the recipient cannot pay the loan when it's due, he or she must deal with late and bounced check fees and possible legal action.
If APR rates were applied to those transactions, a bounced check fee would be 1,329 percent (counting the vendor's fee) and an overdraft would be 913 percent.
There is no chance that an error at the bank, an incorrect entry, a delayed deposit or withdrawal, or an undiscovered bounced check received from a shareholder will come back to haunt them.
And what the insulated media can learn from my bounced check
No one should be denied access to a bank account because of a bounced check from years ago or because they were a victim of identity theft," Schneiderman said.
Heintzelman has been administratively suspended from practicing law until he explains a bounced check to the state Bar Counsel.
CAIRO: Egyptian political blogger Alaa Abdel Fattah was released from custody after a long detention at Cairo International Airport on Monday for allegedly dodging a sentence over a bounced check, according to Manal Hassan, his wife, who is also a blogger.