Check Representment

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Check Representment

A process in which a check is deposited as many times as is necessary in order for it to clear. That is, if a check does not have sufficient funds in the account to be deposited, the bank continues to deposit it until funds become available and the check finally clears. This allows the recipient of the check to (eventually) receive funds on a check that would otherwise bounce and saves the writer of the check from having to pay an NSF fee.
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References in periodicals archive ?
When such ACH payments, identified by SEC code as RCK ("re-presented check"), are themselves returned, they are returned through the ACH system and are no longer identified as check returns.
Re-presented checks. The electronic re-presentment of a returned check is not covered by Regulation E because the transaction originated by check.