When the amount available in the drawer’s account is less than the amount stated on the check, the bank reserves the right to return the check to the depositor. When this occurs, the depositor is expected to pay a penalty to the bank. If this occurs frequently, the bank reserves the rightto unilaterally close the holder’s account. It is considered a crime in some locations, to issue a check that will be returned.
What is NOT SUFFICIENT FUNDS (NSF)?
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- Suing Your Landlord: How, When, Why, & Should You Bother?
- Drug Decriminalization Laws Setup For Rehaul Throughout US
- Why Trump’s Lawsuit Tactics Won’t Turn The Election
- What Is Impeachment & How Does It Work, Exactly?
- War Drafts – What You Should Know About the Return of the Draft
- Fake News: History, Laws, & Is It Going To Ruin The Election… Again?
- Privacy Laws: Why It Matters, What To Do, & Important FAQs
- Deportation: Human Rights, FAQ, & What To Do
- Flexible Spending Account (FSA): Limits, Expenses & FAQ
- Census 2020: Everything You Need To Know Before You Say No
- Best Way to Find Someone in Jail for Free
- How Do You Look up License Plate Numbers?
- What Is A Police Welfare Check?
- Best Way to Run a Free Arrest Warrant Check
- Signing a Letter on Someone Else’s Behalf
- Best Way to Write a Professional Letter to a Judge
- How To Find A Name & Address Using A License Plate Number
- How To Find An Inmate’s Release Date
- How to Transfer a Car Title When The Owner Is Deceased
- What Rights Do Convicted Felons Lose?