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What is a rubber check?

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تم إضافة السؤال من قبل Syed Gazi Hussain , Sr Accountant , Creative Marketing & Advertising Solution Ltd
تاريخ النشر: 2015/06/02
Syed Gazi Hussain
من قبل Syed Gazi Hussain , Sr Accountant , Creative Marketing & Advertising Solution Ltd

A rubber check is a check that is not paid (or honored) by the bank on which it is drawn. The reason the check is not paid is the maker's account had insufficient funds or not sufficient funds (NSF). Instead of the check being paid, it will be returned (or bounced back) through the banking system. Because the check was bounced back by the bank, the check is described as a rubber check

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