A bad check is a check that cannot be processed due to insufficient funds or a closed account, also known as an NSF (Non-Sufficient Funds) check or rubber check.
The term 'Bounce' pertains to various scenarios in finance, securities, and communications where an action is invalidated or not executed as intended. It includes returned checks due to insufficient funds, rejected securities, sudden stock price moves, and undelivered emails.
A debit memorandum is a notice sent by a bank or financial institution indicating a deduction or charge made to an account, often due to reasons such as insufficient funds or returned checks.
Refers to words written on a cheque that is being dishonoured by a bank, typically due to insufficient funds or other specific issues such as bankruptcy or technical errors.
A rubber check refers to a check that cannot be processed due to insufficient funds in the account it is drawn from. The term 'rubber' signifies the check's ability to bounce back, similar to a rubber ball, indicating its return to the issuer by the bank.
An unpaid cheque is a cheque that has been submitted for clearing but is returned to the payee due to the inability to process the transfer of value. This typically occurs due to insufficient funds in the payer's account or other issues.
