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 ?
Soderberg believes that the greatest benefits of using the Rent Payment Station[TM] include the elimination of the rent posting and bank deposit process, and the immediate notification of rental payments that are refused due to non-sufficient funds.
The alerts system was developed in-house and provides text or online banking website alerts for such options as new e-statements, deposits and withdrawals, low balances and non-sufficient funds.
Your bank will return the check non-sufficient funds (NSF), and charge you $28, and the merchant you gave the check to will charge you $30, bringing the grand total to $58.
One such complementary program launched at the beginning of 2010 is NSF Fee Free Days, which allows members to have $12 Non-Sufficient Funds fees waived on two days during the year, regardless of the number of items marked as NSF on either of the two days.
A recent study by Raddon Financial Group (RFG) showed that only nine percent of bank customers contribute 80 percent of banks' non-sufficient funds (NSF) fees.
Once registered, members can sign up for the following Alert options: New E-Statement Alert, Deposit Alert, Low Balance Alert, Non-Sufficient Funds (NSF) Alert, Overdraft Alert and Withdrawal Alert.
released their 2009 annual analysis of bank and credit union overdraft (OD) and non-sufficient funds (NSF) fees, which totaled $38 billion.
Ever made a minor error in balancing your checking account and had it result in numerous Non-Sufficient Funds (NSF) fees?
In addition, CrossCheck's guarantee features provide protection on check transactions returned from the bank due to non-sufficient funds.
Re$ubmitIt enables a bank's business customers to double 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.

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