The sensitive world of banking has probably been around ever since man first set aside a token of exchange to help out in a time of crisis. At the advent, the services offered were countable and mostly, just 'savings'. However, today the banking industry has come a long way and customers are now accessing a number of specially designed services and products that are exclusively adopted by the dedicated sector. One such facility is that of the check and this particular facility helps you to make and receive payments, without being physically present at the bank to access your account.
The bouncing of a check is a legal offence if not sorted out in good time. There has to be total transparency between the two parties, to deal with the unavailability of the funds. When a check bounces, if you are the issuer, you need to communicate with your bank and the party concerned, specifying the reason and method of repair. In case you are the receiver of such a check, even then you need to first communicate, then represent the check and at all times keep the bank officials well informed. In case you feel that you have been victimized by a fraudulent attempt, you can alert the law and take the matter to court.
The bouncing of a check is a legal offence if not sorted out in good time. There has to be total transparency between the two parties, to deal with the unavailability of the funds. When a check bounces, if you are the issuer, you need to communicate with your bank and the party concerned, specifying the reason and method of repair. In case you are the receiver of such a check, even then you need to first communicate, then represent the check and at all times keep the bank officials well informed. In case you feel that you have been victimized by a fraudulent attempt, you can alert the law and take the matter to court.
