Advocates For Bounced Cheque

• January 09, 2025
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A bounced cheque refers to a cheque that cannot be processed or honored by the bank due to insufficient funds in the account of the person who issued the cheque. When a cheque is presented for payment, the bank verifies if there are enough funds in the account to cover the cheque amount. If there aren't enough funds, the cheque is returned to the payee, usually with a "bounced" or "returned unpaid" notification. This can occur for several reasons, including insufficient balance, a closed account, or technical issues. Bounced cheques can result in fees for both the issuer and the payee, and in many cases, the issuer may face legal consequences, including fines or criminal charges, especially if the cheque was issued with the intent to defraud. Bounced cheques can damage an individual's or business's financial reputation and creditworthiness, making it difficult to conduct future financial transactions.

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