Fewer people physically write out checks today than ever before. The plastic forms of payments are more convenient for quick payments. However, with the ease of payment comes a certain level of forgetfulness when it comes to balancing the checkbook. Even the small sums add up over time, reducing the overall amount of available funds. Mistakes happen when obligations are overlooked, sometimes resulting in what is known as a “ bounced check.” If this happens in Illinois, you could face criminal charges.
How Does a Check Bounce?
You may be wondering how you bounced a check, especially if you no longer have a checkbook. If you use an online billing payment service through your bank or enter your check information in a payment screen, there is a possibility that your bank will physically mail a check to the biller for processing; a process that may take several days. While there may be money in the account when you send the payment, if the funds are no longer available when it processes, the check will return to the person who tried to cash it rather than their promised money. In other words, it “bounces” back to them. Transactions do not necessarily deduct from the account in the order of payments, either. Financial institutions follow a schedule, allowing higher priority payments to process even before pending transactions.
What Are the Consequences?...