Bouncing check and its penalty

[Starmix]

There are people who are cruel and unmindful of the feelings of others, their victims of a bouncing check, When we say bouncing check there is no money in the bank deposited by the person who issued the cheque to the person he or she owed money for services, goods of sum of money borrowed with a promise to pay it on a certain date agreed by the two parties. The bank will not honor the check of the depositor's bank. In my country, the penalty is imprisonment of at least 30 days but not more than one year and a fine of at least double the amount of the check not exceeding P200,000 pesos or $ 4,000 USD. Additional penalties for bouncing checks may include negative credit score marks, refusal of merchants to accept your checks, and a reputation becomes undesirable.

 

[Fidelia]

That's the very reason I would not accept any payments by cheque. Just make sure that you give me a bank transfer as payment.

 

[Starmix]

Payment through a check is seldom accepted by people this time. There's no assurance if there's money deposited on the bank by the check owner.

 

[Augusta]

It is good that they are penalties for bouncing checks as you would have negative credit score marks abd have a bad reputation.

 

[Starmix]

It is good that they are penalties for bouncing checks as you would have negative credit score marks abd have a bad reputation.

That is right, the creditor will have a bad reputation and no one will trust her or him again. Even if paid in a cross-check, it is not good because there is no assurance that the owner will deposit the money for payment.

 

[Augusta]

That is right, the creditor will have a bad reputation and no one will trust her or him again. Even if paid in a cross-check, it is not good because there is no assurance that the owner will deposit the money for payment.

That's right it is good to be faithful when you are issuing checks. it would help you to improve your image

 

[Starmix]

That's right it is good to be faithful when you are issuing checks. it would help you to improve your image

That's right. When I had a checking account, I paid people through a check and nobody claimed that my checked bounced , no. I have money in the bank.