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Non-Sufficient Funds Cheques
When a cheque with non-sufficient funds (NSF) is rejected by a bank, Financial Services will return the original cheque, with an explanation, to the originating department for follow-up with the payee.
In the meantime, the amount of the NSF cheque will be reversed in the department���s account balance and bank fees will be charged back to the department as well. Here are some of the reasons cheques may be rejected by a bank:
account has insufficient funds
payment stopped
post/stale dated
account closed
change not initialed
body and figures differ
funds frozen or not cleared
signatures are missing, irregular, illegible or unauthorized