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.
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References in periodicals archive ?
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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.
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