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Home Categories Checking Accounts The account balance represents the available funds or present value of an account of a particular financial account, such as a checking, savings or investment account. A check bounce occurs when the issuer of the check does not have enough funds to fulfill the payment amount on the check to the payee. A canceled check is a check that has been redeemed by cashing or depositing it, making the check invalid for further transactions and cannot be reused. A check is a written, dated and signed document that directs a bank to pay a certain amount of money to the bearer. Debit cards eliminate the need to carry cash or physical checks to make purchases, and can also be used at ATMs to withdraw cash. An electronic check is a form of payment over the Internet designed to perform the same function as a regular paper check. A checking account is said to have “insufficient funds” (NSF) or “insufficient funds” when it does not have enough money needed to cover transactions. A joint transaction refers to transactions involving two or more parties. A negotiable document is a signed document that promises the amount of payment to a named person or assignee. A checking account is said to have “insufficient funds” (NSF) or “insufficient funds” when it does not have enough money needed to cover transactions.