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.
References in periodicals archive ?
Some banks return unpaid cheques with the remarks of "insufficient funds" even when actual reasons of dishonour or defects in the instruments are different.
Any changes should involve notifications of unpaid cheques now being advised electronically.
Cahoot suits me as I can keep an eye on my money wherever I am, but it also has a good overdraft buffer, so if I do spend more than I have, I won't face hefty fines or unpaid cheques.
Last is the post office whose role in the game was very limited until the State Bank of Pakistan enhanced it under its proposal that the banks should mail back the paid bills or unpaid cheques to the customers.