BNET Business Dictionary
Business Definition for: Bounced Check
- a draft on an account that a bank will not honor, usually because there are insufficient funds in the account
Additional Resources
- 'Check 21' Banking Law Goes Into Effect Oct. 28; Consumers Union Offers Tips for Avoiding Bounced Checks, Fees, Other Pitfalls of Law
- SAN FRANCISCO, Calif., Oct. 22 /U.S. Newswire/ -- A sweeping new banking law known as "Check 21" will go into effect beginning October 28, speeding up check processing and putting consumers at risk for more bounced checks and fees, Consumers UniSAN FRANCISCO, Calif., Oct. 22 /U.S. Newswire/ -- A sweeping...
- Research articles 2004-10-22
- New check-clearing law bounces usual float time; Electronic substitute initiated gradually; Carver remains postal.(Finance)(Column)
- Byline: tom fredrickson The time that banks take to process checks is about to decline, and more bounced checks could be the result. On Oct. 28, the federal Check Clearing Act for the 21st Century-also known simply as Check 21-takes effect. For...
- Research articles 2004-10-18
- Campaign qualifying check of Georgia State Sen. Abernathy bounces
- Georgia State Sen. Ralph David Abernathy said his $400 qualifying check to run for office bounced because the Democratic Party is out to get him. Abernathy said the check, which was written against his wife's personal account, bounced because the Georgia Democratic party held it for eight days,...
- Research articles 1998-06-29
- Experts See Shortcomings For CUs On BSA Compliance
- Perhaps the most frustrating aspect of compliance is that there are so many definite penalties for not complying with indefinite rules.Should credit unions file a suspicious activity report on every bounced check? What are their risks in a shared branch Perhaps the most frustrating aspect of compliance is that...
- Research articles 2005-09-05
- Linden, N.J., Man Gets $7,500 as First Union Settles in Court.(Knight Ridder/Tribune Business News)
- Aug. 10--When First Union Corp. slapped John Jorges with nearly $1,800 in bounced check fees in a three-month period last year, the 50-year-old auto mechanic from Linden didn't just storm into his bank branch, rant and rave, and shut down his busines Aug. 10--When First Union...
- Research articles 2000-08-10
- 'Check 21' law could mean more bounced checks, fees for consumers
- A new federal law that allows banks to process all checks electronically could mean more bounced checks and high fees for consumers. The law, Check 21, goes into effect Oct. 28 and was adopted to increase bank efficiency. Industry officials estimate that more than $2 billion a year...
- Research articles 2004-08-31
- Are bad checks a good thing?
- Debunking the myths about checking overdraftsOf course, bad checks can never be a good thing! Decent, responsible people would never intentionally or knowingly write a "bad check." Honest, reputable businesses would never "encourage" anyone to write a "bad check."But, it's not that simple is it? Is a "bad" check the...
- Research articles 2003-10-15
- Customer objects
- A Saline County man is trying to receive class-action status to test the legitimacy of bounced check fees at Arrest Bank. John A. Burks filed the lawsuit in March and said that while he was a customer of Superior Federal Bank, which was acquired by Arvest in 2003, he...
- Research articles 2006-05-15
- Check 21 Banking Law Goes Into Effect Starting October 28
- The article describes a sweeping new banking law known as "Check 21" will go into effect beginning October 28, speeding up check processing and putting consumers at risk for more bounced checks and fees. The, consumers will discover that their bank account statements will come with fewer - or perhaps...
- White papers
- With Month To Go Til Check 21, Some See A Fee Frenzy
- Consumer groups are worried financial institutions are licking their chops over a potential surge in bounced checks-and fee income-following the Oct. 28 implementation of the Check Processing for the 21st Century Act (Check 21).But some experts question how quickly consumers will feel the loss of "float." "I don't think most...
- Research articles 2004-09-20
- 'Check 21' law goes into effect; tips offered to avoid bouncing
- A new banking law, known as Check 21, goes into effect today speeding up check processing and putting consumers at risk for more bounced checks and fees. The Consumers Union is warning consumers to keep a careful eye on their bank statements in the coming months and has...
- Research articles 2004-10-28
- Palestinian Authority check bounces, petrol cut off
- JERUSALEM AFP — The private Israeli firm that provides gasoline to the Palestinian Authority said a check for more than 22 million dollars bounced last week and announced it has stopped deliveries. "A check for 103 million shekels (22.4 million dollars) made out to Dor-Allon was returned unpaid last...
- Research articles 2006-02-27
- Air South Pays Overdue Bill at Florida Airport with Bad Check.(Originated from St. Petersburg Times, Fla.)
- Apr. 11--Air South paid its overdue $7,200 bill to St. Petersburg-Clearwater International Airport this week, but the check apparently bounced. Airport director James Howes said Air South's bank in South Carolina told Pinellas County officials Wednesday that there were insufficient funds to cover it. ...
- Research articles 1996-04-11
- Brochure shows consumers how to avoid overdraft fees.
- In a move aimed at helping consumers fend off high fees for overdrawn checking accounts, the Federal Reserve and other financial institution regulators announced publication of a new brochure, Protecting Yourself from Overdraft and Bounced-Check Fees. The no-cost solution ...
- Research articles 2004-10-01
- Consumers Union: 'Check 21' Law Benefits Banks But Will Mean More Bounced Checks, Fees for Consumers
- SAN FRANCISCO, Aug. 24 /U.S. Newswire/ -- Consumers will be more likely to bounce checks and may find themselves paying higher fees under a new federal law that allows banks to process all checks electronically, consumer groups warned today. Consumer Union and the Consumer Federation of America are urging...
- Research articles 2004-08-24
- Noted and Noteworthy
- In the pines and high country of central Oregon, they're still trying to dig out from winter storms a few months ago that tore across the Cascades. Adding up the costs for the transportation department means 90,000 cubic yards of sand, reportedly enough to cover an entire football field to...
- Research articles 2004-04-01
- Rising Gas Prices Get SUV Buyers in New Jersey to Check Sticker.
- By Kevin G. DeMarrais, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News Jun. 4--Brian Franzson twisted the dials on the dashboard. He opened and then closed the drop-down TV screen in the back seat. He punched a button and watched the automated...
- Research articles 2004-06-04
- Pittsburgh Banks Increase Fees for Accounts, Services.
- Knight Ridder/Tribune Business News Dec. 11 -- Mellon Bank is raising fees on a handful of accounts and services. Cross-town rival PNC Bank, meanwhile, today begins waiving minimum balances and monthly service charges on newly opened checking accounts as part of a pilot program...
- Research articles 1999-12-10
- Bounced check charges proving profitable for U.S. banking industry: NSF fees are boon for bottom line, bane for customers
- Banks say they are doing their best to discourage customers from bouncing checks--even going so far as to charge $30 and up. None of the banks surveyed for this article could confirm how much it profits from NSF, or non-sufficient funds, fees. The Consumer Federation of America recently...
- Research articles 2007-06-25
- What Citibank can learn from the House bank - House of Representatives bank scandal
- And what the insulated media can learn from my bounced check I don't write bad checks very often, but I did write one last year. It was an honest mistake, the kind many people make: A deposit didn't clear as quickly as I thought. Maybe I got a little...
- Research articles 1992-07-01
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