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(Revised: 01/2017) Dishonored checks are items deposited at a depository bank, but are returned to the State due to non-sufficient funds or other reasons preventing the bank from cashing the items. Depository banks attempt to deposit checks twice before being considered dishonored.
A dishonored check shall be settled by tendering payment in cash or by certified check to the CO concerned.
Dishonored checks are items deposited at a depository bank, but are returned to the State due to non-sufficient funds or other reasons preventing the bank from cashing the items. Depository banks attempt to deposit checks twice before being considered dishonored.
Although, there are several cheque bounce reasons to be considered such as incorrect date mentioned on the cheque, signature mismatch, mismatch of the amount and figures, damaged cheque, overwriting of the cheque, etc. The principal reason for a cheque bounce is insufficient funds.
What Does Dishonor of a Payment Mean? A dishonored payment occurs when you dont have enough funds in an account to make a payment or when you refuse to make a payment owed.
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