Not-sufficient-funds check

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Not-sufficient-funds check

A bank check having insufficient funds to back it.

Not-Sufficient-Funds Check

A check that a bank refuses to honor because there is not enough money in the payer's checking account to cover the amount of the check. For example, if Bob writes Joe a check for $200, but there is only $175 in Bob's account, then Bob has written a not-sufficient-funds check and the bank will refuse to transfer the funds to Joe's account. It is also called an NSF check, a bad check or a returned check.
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Even so, 90 percent of all returned checks are collected by businesses themselves within 10 days.
A recent survey of returned checks processed by the Federal Reserve indicates that institutions receive most checks that are returned unpaid by the day on which they must make funds available for withdrawal under the temporary availability schedule.
SECU even has a new answer for members who are paying too many NSF and returned check charge fees, offering the new SECU Cash Points Global (CPG) account as an alternative checking service.
The company provides the complete range of processing services, including electronic returned check collection (RCK), electronic check conversion (ARC), check authorization, check guarantee, check-by-phone/web, consolidated returns and credit card processing.
Services include ACH payment processing, check verification, Returned Check Processing, automated recurring payments, collection of donations and payments, and conversion of paper checks into electronic transactions-all performed safely and securely.
Internet-based service offers Transworld clients advanced process automation for the recovery and collection of all returned checks
Services offered include depository processing, accounts receivable truncation, controlled disbursement services, and returned check management and conversion services.
SPS is a full service payments provider specializing in ACH processing, Returned Check processing, and check conversion.
Check Plus Systems provides innovative check processing services with products such as EZ Deposit (a Check 21 based electronic remote depository service), electronic re-presentment, check guarantee, check verification, and returned check collection services.
has signed an agreement with NACS, the association for convenience and petroleum retailing, to provide returned check collection (RCK) services to the retail trade association's members.
By converting a check into an ACH debit, a customer will no longer see the returned check in the monthly statement.