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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Sometimes the laws around bad checks state that partial payments constitute a payment arrangement and can affect your ability to collect the full amount.
Don't drive away good customers with policies, actions, and attitudes that are intended for the bad check writers.
The findings indicate that a few bad checks written at merchants, combined with bank charges, could mean hundreds of dollars in fees for a consumer.
He estimated their total value of bad checks awaiting decision to be around SR4 billion at present.
Giving statistics at a forum in Dammam last week, Al-Mubarak said 35,859 bad checks were issued in the first quarter of this year compared to 40,565 during the same period last year.
Whether a business receives checks routinely, occasionally or rarely, the new, free Bad Check Recovery service will provide a better return:
When the bad check catches up with the consumer, fees three or four times the original amount of the check are not unusual.
The new program -- powered by ePayments' iSmart Check Processing System for intelligent and integrated check acceptance -- has already helped numerous school districts around the nation solve their bad check problems.
Offenders will get one chance to make good on the bad check, or face possible prosecution, Gardner said.
Price Chopper's pilot results prove that the check image is the significant factor in reducing losses due to bad checks and administrative returns.
In a bad economy people usually write more bad checks,'' said Mark MacKinniss, manager of the Bad Check Program.
If the check is not paid, the lender threatens or attempts to enforce the bad check statutes against the borrower.