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Bounced Check

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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.


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In compiling data from banks and thrifts under its "2009 Checking Study" completed in August, Bankrate found bounced check fees and tiered fee structures now average $29.
You are extended financial help, you avoid paying a merchant's returned check fee which ranges from $25 to $27 and you avoid the discomfiture brought on by a bounced check.
Senior Public Prosecution sources told Gulf News that the suspect is also being questioned in connection to two other cases of bounced checks.
 
 
 
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