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 ?
'A few grand won't keep me up, but 130k worth of bounced checks and fat lies by someone I THOUGHT was a friend does seem to never fade,' she commented to the netizen.
On Sunday, a court in Sharjah, the United Arab Emirates dismissed a bounced check case against Naqvi and Abraaj director Muhammad Rafique Lakhani after the complainant dropped the case.
The CFPB also claimed National Corrective Group sent notices on prosecutors' letterheads before any district attorney review took place, and falsely claimed consumers could be prosecuted for writing bounced checks. The bureau also alleged the company violated The Fair Debt Collection Practices Act and the Dodd-Frank Act for using deceptive practices in the financial marketplace.
Many bookkeepers struggle with how to record bounced checks from customers and forget to charge the customer's bank fees, which later causes problems when reconciling the bank account.
on Credit Registry System, Bounced Checks System, field supervision, desk
Bounced Checks: The ability to easily process bounced checks.
The sources said that the date will see the Cabinet ruling on bounced checks come into effect with accused persons to be brought before Ministry of Trade settlement committees "as a temporary measure until commercial courts are set up".
The problem with bounced checks is exacerbated by the way they are used in Iran.
He added that a huge public debt and trade budget deficit, social conflict, murder and suicide cases, drugs, violence in universities and a rising number of bounced checks would figure high on the party's deliberations.
In the past year, the firm has repeatedly bounced checks to landlords, renters and agents, while falling behind on payments to vendors.
Bushi was arrested in Dubai earlier this year for issuing four bounced checks. Egypt has asked for him to be extradited but UAE authorities have said they will not hand him over before the matter has been settled.
Senior Public Prosecution sources told Gulf News that the suspect is also being questioned in connection to two other cases of bounced checks. <p>2009 Dubai Business | Kippreport.