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Investment Simplified > Banking > Cheque Bounce
Banking

Cheque Bounce

Monika Mohan
Monika Mohan January 12, 2023 2 Min Read
Updated 2023/01/12 at 11:33 AM
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Have you heard someone saying that their cheque got bounced with a frown on their face. Well, that’s what a cheque bounce brings – a troublesome and embarrassing situation! Let’s teach you all about cheque bounce and how to avoid it.

Contents
Cheque Bounce MeaningCheque Bounce Reasons  Cheque Bounce ChargesCheque Bounce: FAQs

Cheque Bounce Meaning

A cheque is a written document that an issuer gives to their bank to pay the mentioned amount in this document to the payee. But how does the bank pay this amount? Naturally, from your bank account.

But if there are insufficient funds in your bank account upon which you’ve issued the cheque, the bank will not be able to pay the money to the person in favour of whom you wrote the cheque.

This is the meaning of cheque bounce, i.e. a situation when you cheque is bounced back to you because of insufficient funds in your bank account.

Cheque Bounce Reasons  

Although the most common reason of a cheque bounce is insufficient funds in the issuer’s bank account, there are a few more reasons due to which your cheque might get bounced or dishonoured. Let’s look at the reasons:

1. Insufficient Funds in the issuer’s bank account

2. Incorrect name mentioned on the cheque

3. Signature mismatch with the bank’s database

4. Amount mismatch in words and figures

5. Overwriting on the cheque

6. Damaged cheque

7. Stale Cheque (presented 3 months after the date mentioned on the cheque)

Cheque Bounce Charges

The fee or charges for a bounced cheque vary from bank to bank. Please note that the banks also charge GST as per the applicable GST rates on cheque bounce charges.

Let’s take a look at the cheque bounce charges by the top banks in India:

  • SBI Cheque Bounce Charges: Rs 500
  • HDFC Cheque Bounce Charges: Rs 550
  • PNB Cheque Bounce Charges: Rs 150 – Rs 500
  • ICICI Cheque Bounce Charges: Rs 500 (Rs 50 for non-financial reasons)

Cheque Bounce: FAQs

Why has my cheque bounced?

A cheque bounce case may happen due to reasons like insufficient funds, mismatch in signature, incorrect name mentioned and damaged cheque etc.

What are the charges for a bounced cheque?

Bounced cheque charges can vary from Rs 50 (for non-financial reasons) to Rs 500.

Will the bank return my bounced cheque to me?

Yes, as per the RBI guidelines, banks are supposed to return all the dishonoured cheques to the issuers or payees within the stipulated time while stating the reason for cheque bounce.

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Posted by Monika Mohan
Monika Mohan is a writing enthusiast who has luckily turned her passion into profession. For the greens, she has an established foot in the personal finance sector and likes to put forth complex topics in an easy-to-understand manner, minus the jargons. Outside the penny lane, it’s all about poetry, mountains and single-malts.
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