11 Reasons Why Most Bank Checks Are Being Dishonoured
There are various reasons why bank checks are not being accepted from drawers:1. Insufficient Fund: When the amount written on a check is more than what the drawer has in his account in the bank.
2.The Death of The Drawer: If the bank recieves information of the death of its customer, the bank will not honour any check presented on the account of the dead customer, until further notice.
3. Irregular Signature: If the signature the drawer signs on the check differs from the specimen signature in the bank.
4. Non-Existing Account: Sometimes, swindlers who have no bank account but possess false check books may issue check to those whom they have swindled.
5. Bankruptcy: If one is judged by a law court to be unable to pay his debts in full, the bank will dishonour any check presented on behalf of that customer.
6.Frozen Account: If court orders or a military government decrees that some people's account be frozen, the bank must definitely dishonour all checks bearing the account's numbers.
7.When There is Attention: If anything is cancelled on a check, the bank will dishonour such a check, except the drawer signs his signature above or under the altered word.
8. A Post-Dated Check: If this is presented for payment, the bank will dishonour such a check.
9. A Stale Checkd: A check that has been delayed for more than six months of the date written on it, if presented for repayment must be dishonoured by the bank.
10. If There Is A Difference Between The Amount Written In Words And That in Figuresd: If for instance, the drawer writes thirty dollars only in words and $20 in figure.
11. When Payment is Stopped: If the drawer asks a bank not to pay a check already issued.
2.The Death of The Drawer: If the bank recieves information of the death of its customer, the bank will not honour any check presented on the account of the dead customer, until further notice.
3. Irregular Signature: If the signature the drawer signs on the check differs from the specimen signature in the bank.
4. Non-Existing Account: Sometimes, swindlers who have no bank account but possess false check books may issue check to those whom they have swindled.
5. Bankruptcy: If one is judged by a law court to be unable to pay his debts in full, the bank will dishonour any check presented on behalf of that customer.
6.Frozen Account: If court orders or a military government decrees that some people's account be frozen, the bank must definitely dishonour all checks bearing the account's numbers.
7.When There is Attention: If anything is cancelled on a check, the bank will dishonour such a check, except the drawer signs his signature above or under the altered word.
8. A Post-Dated Check: If this is presented for payment, the bank will dishonour such a check.
9. A Stale Checkd: A check that has been delayed for more than six months of the date written on it, if presented for repayment must be dishonoured by the bank.
10. If There Is A Difference Between The Amount Written In Words And That in Figuresd: If for instance, the drawer writes thirty dollars only in words and $20 in figure.
11. When Payment is Stopped: If the drawer asks a bank not to pay a check already issued.
posted by Bigshoe at
9:18 AM
3 Comments:
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Nice post! Cheque is an important means of payment. Cheque is used for paying a large sum of money. It is the most widely used tool for drawing money from the bank. Cheque is used by the buyer or debtor to pay the due amount of goods to his seller or creditor out of his bank deposit. Thanks.reorder checks
Nice post.
The traditional way of ordering and reordering checks is through a request at your bank or credit union to issue a batch for you. Though this can be the most known way of how to order checks, most people these days don’t go through their banks anymore.NFL Football Teams
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