Bounced Check

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Related to Non-sufficient funds: NSF check, NSF Fee, Bounced cheque, Not Sufficient Funds

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 ?
The Settlement Class includes all persons in the United States who currently have or in the past had a BancorpSouth account on which at least one non-sufficient funds fee or overdraft fee was charged and collected betweenMay1, 2004 through and including December 31, 2011.
The Check Collect solution enables companies to streamline the returned-check process by optimizing collection rates for Non-Sufficient Funds (NSF) items and centralizing management of outstanding balances.
Ever made a minor error in balancing your checking account and had it result in numerous Non-Sufficient Funds (NSF) fees?
A national study by Bretton Woods states: "Bank and credit union income from non-sufficient funds (NSF) and overdraft (OD) fees exceed $38 billion.
In addition, CrossCheck's guarantee features provide protection on check transactions returned from the bank due to non-sufficient funds.
Several of Lufkin's telecom clients, for example, have seen 50-percent declines in monthly non-sufficient funds (NSF) items they receive using ePayments' iSmart Rapid Recovery System for a year, also reducing manual disconnects and reconnects.
National Automated Clearing House Association (NACHA) rules allow checks returned for non-sufficient funds (NSF checks) to be recovered electronically.
In its enhanced version of Key Business Online(SM), Key has also added a new feature to help businesses recover funds on deposited items returned for non-sufficient funds.
Checking & Savings - non-sufficient funds fees temporarily waived, instant credit for deposits en route to the bank, emergency fulfillment of debit cards.
Unlike traditional recovery solutions that take a percentage of the face value of the check, with the ePayments program there is absolutely no cost to the school district, and ePayments benefits by receiving non-sufficient funds (NSF) fees on the bad checks it recovers.
Re$ubmitIt enables a bank's business customers to significantly increase the collection rates of returned deposit items, including checks and other electronic items, by electronically re-presenting non-sufficient funds (NSF) items to a check writer's account for payment.
Re$ubmitIt enables a bank's business customers to significantly increase the collection rates of returned deposit items, including checks and other electronic items, by electronically representing non-sufficient funds (NSF) items to a check writer's account for payment.

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