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What are unpaid cheque credits?

An unpaid cheque credit (or a bounced cheque) refers to a paid-in cheque which has started the clearing cycle but was unable to be cleared.

Cheques can bounce for various reasons. For example:

  • Not enough funds on the drawing account
  • A block/marker on the drawing account preventing transactions
  • The cheque is returned by request on the day of presenting
  • The cheque is returned for fraud or security reasons
  • The cheque is returned for technical reasons
  • A stop has been placed on the cheque