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A "cheque bounce" occurs when a person writes out a cheque, but there are not enough funds in his bank account to clear that cheque.

Here's how it works: When you write a cheque, you are instructing your bank to move a certain amount of money from your bank account to someone else. The bank cannot move that kind of money if you do not have sufficient balance in your account. The bank returns the cheque to the person with the word "bounced" beside it.

Cheque bouncing can incur any number of penalties, not to mention damaging your credit and even leading to litigation if bounced too often. Ensure you've got sufficient in your account so as not to bounce!

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YKG Global

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8mo ago

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