91心頭利

You are now in the main content area

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