"crossed, bad, dud, bounced" for cheques?
Could anyone please tell me the differences? What happens exactly if a bank bounces your cheque?
Re: "crossed, bad, dud, bounced" for cheques?
A crossed cheque is one which must be paid into an account, it cannot be cashed. If a bank "bounces" your cheque, it refuses payment on it because you have insufficient funds to cover it. A bad cheque is the same as a dud cheque, the bank will bounce it.
Originally Posted by Mehrgan