Bounced Check

(redirected from Unpaid Cheque)
Also found in: Legal.

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 ?
prompt advice of all unpaid cheques and direct debits;
Additionally, the central bank found that insufficient funds were the major cause for unpaid cheques, followed by accounts closed or EeAaelegally blockedEe' accounts; Oman Telecommunications Co (Omantel) said it has signed a share purchase agreement to acquire from the Treasury 425.7mn shares (9.84% of outstanding common shares) in Kuwaiti Mobile Telecommunications Company (Zain Group); Mandatory health insurance for private sector employees in Oman could start in Jan 2018, according to press reports.
August 8, 2016 (JUBA) - South Sudan's finance minister Stephen Dhieu Dau has cancelled unpaid cheques owed to businessmen until a new fiscal budget is passed.
"The aim is to find solutions to thousands of expatriate workers who are banned from leaving Bahrain over unpaid cheques and dues," the minister said.
The twist in the case, which marks the first time Christos Orphanides has been held accountable for his company's bad debts, is expected to be of immense significance in light of other cases pending against Orphanides in connection with unpaid cheques issued.
THE Ritz casino has won a High Court battle to recover PS1 million on unpaid cheques from a wealthy gambling addict.
"The landlord, within his legal right, has initiated a criminal case against me for unpaid cheques, even though they know what the situation is.
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. This business is difficult enough to try to organise your finances round - Cahoot help as much as possible with text messages to my mobile and the free overdraft buffer.
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.
In a written reply to the question of Col (r) Tahir Hussain Mashhadi, he said Rs 5.611 billion liabilities were of GPF, Rs 0.008 billion were to be paid to staff benefits funds, Rs 27.198 billion were outstanding foreign loans, Rs 39.949 billion were overdraft from SBP, Rs 5.659 billion were outstanding of securities and deposits and 0.092 billion liabilities regarding unpaid cheques on June 30, 2013.
"The problem is that unpaid cheques incur interest and car agents charge about two per cent a day for the unpaid money.
Some banks return unpaid cheques with the remarks of "insufficient funds" even when actual reasons of dishonour or defects in the instruments are different.