Bouncing checks never bode well for any transaction. But, what are the usual culprits behind it? Infinity Payment Systems shares it could be because…
- Your signature on the check is not legible.
Do you tend to dish out checks in a jiffy? Pause shortly when you get to the signature line. If your scrawl doesn’t match the original sample you gave the bank, your check will bounce. Always review your checks carefully before handing them out.
At the same time, you should make a note not to forget filling in the payee details and amount. In case the check gets stolen, a thief can withdraw a good amount of money from you.
- Your account doesn’t have enough balance.
It’s an obvious reason, right? Yet, this remains as one of the most common problems when it comes to transaction processing in North Carolina.
The solution to this dilemma is simple. All you have to do is review your accounts a day before handing out a check. Look over your present balance and account balance. Take note that these two aren’t one and the same.
Your present balance displays the number of transactions known to your bank. This, however, does not incur the checks you have written without the bank’s knowledge. On the other hand, your available balance states the amount that is available for your use. This is the one you should keep an eye on. For easier tracking, you can also keep a checkbook register.
- Your check wasn’t filled in properly.
Just a reminder, incomplete details and errors will cause your check to bounce. Review these items:
- The payee details
- The date
- The amount (stated in numeric and written forms)
In case you mess up, don’t write over the article. Instead, write a new one. If you can’t do that, try crossing out the wrong items. Next, add in your initials and write the new info. This isn’t a guarantee that your check will be honored. However, it might just help.
Be informed, don’t make the same mistakes twice.
Bouncing checks don’t just cause a hassle to both the buyer and seller. Other times, they can also be a root of mistrust between both parties. Nip the problem before it buds with our payment processing solutions in Wilmington, North Carolina.
We offer a one-stop-shop service for all your needs. Skim through our website to learn more about it. If you have any questions, you can reach us via email or over the phone. Just scroll down for our contact details!
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