Cheque Bounce or dishonour of cheque occurs when a cheque that is presented in the bank cannot be processed for one reason or another. It happens when the account holder has non-sufficient funds (NSF) in the bank account or if the signatures on the cheque do not match with the original signature of the cheque issuer. When there are insufficient funds in an account, and a bank decides to bounce a check, it charges the account holder an NSF fee. Cheque bounce charges vary from one bank to another.
Cheque Bounce or dishonour of cheque occurs when a cheque that is presented in the bank cannot be processed for one reason or another. It happens when the account holder has non-sufficient funds (NSF) in the bank account or if the signatures on the cheque do not match with the original signature of the cheque issuer. When there are insufficient funds in an account, and a bank decides to bounce a check, it charges the account holder an NSF fee. Cheque bounce charges vary from one bank to another.
Cheque Bounce or dishonour of cheque occurs when a cheque that is presented in the bank cannot be processed for one reason or another. It happens when the account holder has non-sufficient funds (NSF) in the bank account or if the signatures on the cheque do not match with the original signature of the cheque issuer. When there are insufficient funds in an account, and a bank decides to bounce a check, it charges the account holder an NSF fee. Cheque bounce charges vary from one bank to another.
Cheque bounce charges stipulated by leading banks such as State Bank of India, ICICI Bank and HDFC Bank vary depending on factors such as the reason and nature of cheque bounce.
Given below are charges levied by SBI, ICICI Bank and HDFC Bank in case of a cheque bounce:
State Bank of India (SBI):
SBI cheque bounce charges, as mentioned on the bank's website - sbi.co.in:
ICICI Bank:
ICICI Bank cheque bounce charges, as mentioned on the bank's website - icicibank.com
HDFC Bank
HDFC cheque bounce charges, as mentioned on the bank's website - hdfcbank.com:
Cheque bounce charges levied by banks are subject to GST or Goods and Services Tax. However, a bounced cheque can be redeposited.
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