NSF check

An NSF check is a check returned by a bank for non-sufficient funds. For example, a business might accept a check in settlement of an accounts receivable balance on a customer account. The business sends the check to the bank for payment, but due to lack of funds on the checking account of the customer, the bank does not honor the check and returns it What is an NSF Check? An NSF check is a check that was not honored by the bank of the entity issuing the check, on the grounds that the entity's bank account does not contain sufficient funds. This situation may also arise when a bank account has been closed. NSF is an acronym for not sufficient funds. NSF Check Fee

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Not-Sufficient-Funds Check A check that a bank refuses to honor because there is not enough money in the payer's checking account to cover the amount of the check. For example, if Bob writes Joe a check for $200, but there is only $175 in Bob's account, then Bob has written a not-sufficient-funds check and the bank will refuse to transfer the funds to Joe's account NSF International protects and improves global human health. Manufacturers, regulators and consumers look to us to facilitate the development of public health standards and provide certifications that help protect food, water, consumer products and the environment. Pioneering Food Safety Yesterday, Today and Tomorrow 1. Make an invoice for the customer who's check bounced with a line item using a 'clearing account' for the total of the check plus any NSF bank fees, if applicable. 2. Make a vendor invoice from the bank for the same amount using the same 'clearing account' and pay that invoice with the same bank account the funds were removed from. 3 Contact. National Science Foundation, 2415 Eisenhower Avenue, Alexandria, Virginia 22314, USA Tel: (703) 292-5111, FIRS: (800) 877-8339 | TDD: (800) 281-8749. Text Only Version NSF testing, auditing and certification services assure suppliers, retailers, regulators and consumers that an independent organization has reviewed a product or system to comply with specific standards for safety, quality, sustainability or performance

NSF check definition — AccountingTool

  1. The correct journal entry to reconcile an NSF check returned by the bank is: A. Debit Accounts Receivable, Credit NSF. B. Debit Cash, Credit Accounts Receivable. C. Debit NSF Expense, Credit Cash. D. Debit Accounts Receivable, Credit Cash. Accounting Auditing Account Handling Bookkeeping
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  3. Whether you write or receive a bounced check — also called a nonsufficient funds, or NSF, check — it will cost you. Write one and you'll owe your bank an NSF fee of between $27 and $35, and the recipient of the check is permitted to charge a returned-check fee of between $20 and $40 or a percentage of the check amount
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An NSF check, or non-sufficient funds check, is a check that is returned for nonpayment. Sometimes called a bounced check or a bad check, most NSF checks are usually returned within days after.. An NSF check is a check that has bounced, a term used to refer to a bank's declination to provide funds from the account listed on the check. This is typically because the account has insufficient funds to cover the transaction. A bounced check is called an NSF check because it is an abbreviation for non-sufficient funds (NSF) DEFINITION of 'Non-Sufficient Funds' CHECK An acronym used in the banking industry to signify that there are non-sufficient funds in an account in order to honor a check drawn on that account. Colloquially, this is known as a bounced check or bad check. Banks normally charge a fee to the account holder for an NSF check Not sufficient funds (NSF) checks: When a customer deposits a check into an account but the account of the issuer of the check has an insufficient amount to pay the check, the bank deducts from the customer's account the check that was previously credited. The check is then returned to the depositor as an NSF check When you get an NSF check, the appropriate way to book it in GP is to use the Receivables Posted Transaction Maintenance window to mark it NSF. The system will automatically remove the payment from the invoice, record that this customer gave you a bad check and allow you to charge an NSF fee all at the same time. Kind regards, Lesli

NSF check financial definition of NSF chec

When a customer's check is returned to you from the bank for insufficient funds (NSF) and you have already deposited the amount in NetSuite, use a journal entry to correct account balances. See Correcting Account Balances for NSF Checks Using a Journal Entry An NSF check may be referred to as a bad check, dishonored check, bounced check, cold check, rubber check, returned item, or hot check. In England and Wales and Australia , such cheques are typically returned endorsed Refer to drawer, an instruction to contact the person issuing the cheque for an explanation as to why it was not paid. [2

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An NSF fee is imposed when a bank returns a check unpaid. It's equivalent to an overdraft fee—around $35 per failed transaction at large retail banks. 12  What to Do If You Get a Bad Check Add Non-Sufficient Funds Fee to Other Services. If your practice charges a fee for non-sufficient funds checks, complete the following instructions. If your practice does not charge a fee, continue with the instructions for your chosen option. Access Inventory > Services. Hover your cursor over the plus icon and select Other Service. Input the.

Whether you call it a returned check, a bounced check, or an NSF check nobody wants to deal with them. The good news is that Sage 50 US Edition (formerly Pea.. NSF Check; Accounts Receivable; Related How to handle a NSF Check in Accounts Receivable? SharonHennes over 6 years ago. One of my customers bounced a check. What is the best way to record the NSF in Accounts Receivable? Thanks! Reply Cancel Cancel; 0 robertcwood. In the old days we called that a Bounced Check, but today, we have a softer way to call it, an NSF Check (non-sufficient funds). This can happen for a variety of reasons, but essential there is not enough funds in the checking account when the money is attempted to be withdrawn. This is a challenge because you have already attempted to deposit. Relying on a check that ends up bouncing can set off a chain reaction of events that may cause serious economic harm to the recipient of the bad check. Writing a check with non-sufficient funds (NSF) is a crime punishable by fines and jail time. If receive a bad check and the check's maker refuses to make good on.

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Check out our NSF Toolkit, with resources providing information about the impact of NSF's investments. WHO WE ARE. NSF leadership has two major components: a director who oversees NSF staff and management responsible for program creation and administration, merit review,. not sufficient funds (NSF) check definition. A check often referred to as an NSF check, a rubber check, or a check that bounced. It is a check that was not paid by the bank of the issuer (writer) of the check because the checking account of the issuer did not have sufficient collected funds in the account

This video will teach you how to enter NSF - Bounced checks from your Customers. QuickBooks new Record Bounced Check feature makes this super simple. Need. Press the NSF button. Auto Post NSF Debit Charge. screen will open and you can enter the NSF charge amount. Then click the OK button. Dynamics GP voids the payment and adds a NSF fee. See below where the payment is voided as indicated by the * next to Open on PMT line. and posts a debit memo for the $15.00 NSF fee to the customer account Record the Return of a Non-Sufficient Funds Check or Credit Card Chargeback. Create a new negative Cash Receipt for the amount of the original check or credit card charge. Note: Enter a negative number in the amount field. You might record Return of NSF Ck #### in the Payment Reference field. This will produce an item for clearing during the. Colloquially, NSF checks are known as bounced or bad checks. If a bank receives a check written on an account with insufficient funds, the bank can refuse payment and charge the account holder an NSF fee. Additionally, a penalty or fee may be charged by the merchant for the returned check NSF Check Verification. Many companies both online and offline receive Non-Sufficient Fund check returns. Typically, those checks are resubmitted to the bank without verification causing unnecessary exposure to risk and high costs, specifically costs associated with check return and additional transaction submissions

The offense of 3 Non Sufficient Funds Checks within 10 days is a 2 year maximum felony, with a fine of not more than $500, or both. Cases involving bad checks, when there is a police investigation or a threat of the same, require the assistance of an experienced criminal lawyer on your behalf.. For the offense of 3 Non Sufficient Fund (NSF) Checks within 10 days the Prosecution must prove the. NSF Bad Check First Bounce Letter. NSF Bad Check First Bounce Letter is free for your use. The NSF Bad Check First Bounce Letter should be used as a first notice upon receiving a bad check (NSF). The NSF Bad Check First Bounce Letter should be sent on the same day you get the NSF notice. Time is of the essence here. Just cut, paste, fill in your information and send

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NSF Check handling - how do I correctly record a returned

Translate Nsf check. See Spanish-English translations with audio pronunciations, examples, and word-by-word explanations The possible penalties for Non Sufficient Funds (NSF) Check are as follows: 1) In cases where there are 2 prior NSF convictions, the offense is a 2 year maximum felony or a fine of not more than $2,000 or 3 times the amount payable, whichever is greater, or both imprisonment and a fine; 2) If the amount payable in the check, draft, or money. For the Check/Reference No. enter the original check number followed by NSF. The date should be the date the money came out of your bank account. On the Apply to Invoices tab find the invoice you just created (1234NSF) and enter the amount of the check as a negative number in the Amount Paid box. This will increase the balance of that invoice. Check #1234 Brown, Returned for NSF ($20.00) When funds are recovered, add the amount back into the checkbook register and the ledger. Treat this as a deposit. For each returned check, use a separate deposit ticket for redeposit or circle amount of check redeposited, if included with other checks being deposited

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Added to the cost of the NSF check will be an $25 NSF charge, as well as, a $50 reconnect fee, and a $75 deposit if applicable plus any balance remaining due on the account. If a NSF check is received as payment on account in good standing a certified letter will be mailed Generally known as NSF or insufficient funds Used when a paying bank determines that the balance in the account is not sufficient to pay the check One of the most common return codes Customer return code 'A' -Not Sufficient Funds 1 NSF (NON-SUFFICIENT FUND) CHECK POLICY. PURPOSE. The purpose of this policy is to inform University departments and students of the actions that the University will take when an item has been returned without payment. SCOPE. This policy applies to all University departments and students, including those on the regional campuses..

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NSF Checks: How to Respond When a Customer Issues an Non-sufficient Funds Check. By James R. Vann Attorney at Law . Customer Issues a NSF Check that Does Not Clear. Even with all the payment options available today, paper checks are still a popular form of payment especially in the business world A bounced check is slang for a check that cannot be processed because the account holder has nonsufficient funds (NSF) available for use. Banks return, or bounce, these checks, also known as.

The correct journal entry to reconcile an NSF check

A client gives you an NSF check for $250. You send the demand letter and the client does not respond within 30 days from the day the letter was mailed. Here's the amount you can now recover: 1. $250.00 check 2. $35.00 your bank service fee 3. $6.00 cost to send certified letter 4. $750.00 treble damages (3 X the amount of check) ____ A check that is issued from a bank account that does not contain sufficient funds to cover the amount of the check may be returned as a NSF check. In most cases the NSF designation reflects that the issuer's checking account is overdrawn. Your bank will typically charge you a fee for depositing a check that does not clear. You may attempt to re. The Oregon statutes issues penalties against those who draft NSF checks in steps. First, if the drafter pays the check amount after receiving the written demand, they need only pay the check amount, interest on the check as of the date of the demand, and a reasonable handling fee not to exceed $25

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NSF Contribution. Employee & Employer share of contributions are 1 % and 2.5% respectively. HRDC Training Levy. Every employer is required to pay levy at the rate of 1.5 % of the total basic wage or salary of its employees other than a household worker. For period from July 2019 to June 2020, an employer is required to pay levy at the rate of 1. If your check bounces after somebody deposits it, it's going to cost you. For starters, you'll pay fees to your bank: You may face overdraft charges or non-sufficient funds (NSF) fees of roughly $25 to $38. 2  3  You'll also likely have to pay a fee to whomever you wrote the check Your check #123 in the amount of $125.00 was returned to us marked insufficient funds. Please send us a cashier's check or money order in the amount of $140.00 ($125.00 + $15.00 returned check fee) no later than March 31, 2019. If you have any questions about this, please call me at 555-5555. Thank you for your cooperation FOR THE MONTH OF _____ NSF Check Reporting Form Pursuant to OAR 845-006-0365(2): A wholesale licensee must report any NSF check(s), including third party NSF checks, received during a calendar month to the Commission. The written report must include the trade name of the licensed premises, name of maker, amount of check, date wholesaler. A bad check is a check the bank will not honor. There are three kinds of bad checks. Non-Sufficient Funds (NSF) checks: A check is NSF if there is not enough money in the account to pay it or the account is closed.; Stop Payment checks: The person who wrote the check told the bank to stop payment.; Account was close

NSF Check: When A Check You Wrote (Or Received) Bounce

The NSF Check Recovery Service addresses this problem by automatically re-presenting NSF checks for deposit up to two additional times using Smart Dates™ technology to significantly increase the likelihood of recovery. Benefits include: 100% of recovered face amount paid to yo An NSF (not sufficient funds) check is a check that has not been honored by the bank due to insufficient funds in the entity's bank accounts. This means that the check amount has not been deposited in your bank account and hence needs to be deducted from your cash account records A written NSF notice must be sent to the address that appears on the issuer's checks or to any address that the bank has on file. The notice contains information regarding the demand for payment and a specific 10-day period in which the recipient of the message must comply

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Bad checks, also known as NSF checks, bounced checks, rubber checks, insufficient checks, bogus checks, etc., can be a big problem for an individual or for any size company. There are both civil and criminal penalties for this unlawful act, although it is much more costly and difficult to prove a criminal case Checks bounce back to the writer when the recipient tries to cash or deposit a check that can't be processed because of nonsufficient funds (NSF). The underlying reasons for a bounced check might vary. The check writer might have written the bad check by accident, unaware that they didn't have enough money in their account at the time 750.131a Check, draft, or order for payment of money; making, drawing, uttering, or delivering without account, credit, or sufficient funds with intent to defraud; violation as felony; penalties. Sec. 131a. (1) A person shall not, with intent to defraud, make, draw, utter, or deliver any check, draft, or order for the payment of money, to apply.

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What is an NSF Check? (with picture

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  2. ed by the court but in no event shall the amount be greater than the amount of the check or $400., whichever is less. For a check drawn on a non-existent account: deter
  3. Redeposit the Check. Once the client confirms the availability of funds, you can redeposit the check into your bank account. A new check is not needed -- just submit the same check that was originally returned. All deposit methods, such as at the teller window or at an ATM, are valid with a redeposited bounced check
  4. Check no - enter the non-sufficient funds fee. Save - save the information that you've entered and closed the window. To finish the first step, select the Expense option from the Vendors category. Record the NSF Fee. You'll now have to record the NSF fee charged by your bank. The non-sufficient funds fee will be entered as an expense

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Paula Dominguez asks your help concerning an NSF check Explain. Paula Dominguez asks your help concerning an NSF check. Explain to Paula (a) What an NSF check is, (b) How it is treated in a bank reconciliation, and (c) Whether it will require an adjusting entry What is a nonsufficient funds (NSF) fee? The fee your financial institution charges when you bounce a payment is called a nonsufficient funds, or NSF, fee. You may also get hit with an NSF fee if you try to deposit or cash a check and the issuer doesn't have enough money in their account to pay for it many healthcare facilities charge a fee for a NSF check. why is displaying sensitivity when requesting a payment important. because it can be uncomfortable for some patients to talk about money. the manual bookkeeping system used by some practices is known as a. manual pegboard syste Lobby hours: Monday - Friday. 7:00am - 4:30pm. Payments (cashier's check or money order only) for a bad check case or victim restitution can be mailed by USPS Regular mail to: Regional Justice Center. 200 Lewis Avenue. Lower Level #246. Las Vegas, NV 89155-2211. (If mailed via UPS, FedEx, DHL, or USPS Express Delivery, use zip code 89101 instead About Proposal Status. Research.gov's Proposal Status service offers a single location for Principal Investigators (PIs) and Sponsored Projects Office (SPO) staff to check up-to-date status information for proposals submitted to the National Science Foundation (NSF) via Grants.gov or FastLane

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  1. Jennifer Earl asks your help concerning an NSF check Explain Jennifer Earl asks your help concerning an NSF check. Explain to Jennifer (a) What an NSF check is, (b) How it is treated in a bank reconciliation, and (c) Whether it will require an adjusting entry on the company's books. Jennifer Earl asks your help [
  2. OD/NSF Fees. Two of the most commonly charged banking fees are the Overdraft Fee (OD) and Nonsufficient (Insufficient) Funds Fee (NSF). Many consumers consider these fees one and the same, and many financial institutions practically treat them as such, but a difference technically exists. An overdraft fee is charged when an account lacks the.
  3. Checks and Related Issues. Please note: This page provides information on checks, including issues that consumers have raised with the Department of Banking in the past. We've summarized certain key legal points within the text for your benefit. These summaries do not, however, represent a complete statement of the law
  4. When a check is dishonored by a bank or financial institution, it will be returned to the Bursar's Office (dishonored checks will be presented twice). Items that can be corrected and redeposited (for example, endorsement errors) will be redeposited immediately

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  1. NSF: 9/18: $350: Total Checks: $11,822 : Notes: CM is for collection of a note. Note was for $3500 but bank charged a $500 collection fee. SC is for bank service charges. NSF is for customer payment that could not be funded due to Non Sufficient Funds
  2. NSF and ISF mean that at the time the check was presented to the account holder's bank, there were not enough funds in the account to pay the check or draft. When a check is returned for NSF or ISF, the item can be re-deposited unless the front of the item is stamped DO NOT REDEPOSIT
  3. ating face-to-face payment. Pay you a rebate of 50% of the NSF fee we recover. Direct Recovery is a totally transparent process to your customers
  4. Client NSF Check. URL Name. Client-NSF-Check. Last Modified By. Caitlin Denz, 9/11/2019 5:17 PM. Last Modified Date. 9/11/2019 5:17 PM. Last Published Date. 9/11/2019 5:17 PM. Clients POS & RosyPay. Was this article helpful ? Tell us how it could be more helpful. * Choose a general reason: Description.
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  1. In the old days we called that a Bounced Check, but today, we have a softer way to call it, a NSF Check (non-sufficient funds) This can happen for a variety of reasons, but essential there is not enough funds in the checking account when the money is attempted to be withdrawn. This is a challenge because you have already attempted to deposit.
  2. We are the leader in check verification, NSF check collection and credit card processing services. 32 years experience
  3. it then makes an entry on the customer ledger identifing the nsf transaction. the original invoice and payment are still recorded and untouched, after all the nsf check is a separate transaction and should stand on it's own. think of it as it's own transaction, because you also have to enter the bank side of the tranaction
  4. Returned Check (2nd Occurrence); and (4) Letter re: Returned Check, 3rd Notice - Collection Warning This first form is designed to assist you in drafting a series of letters to a customer to advise them that a check they wrote payable to you, an
  5. 什么是NSF支票 (NSF Check)?. NSF支票是一种带有退回的支票,该术语用于指银行拒绝从支票上列出的帐户中提供资金。. 这通常是因为该帐户没有足够的资金来支付交易。. 跳票支票被称为NSF支票,因为它是资金不足的缩写 支票簿。. 当一个人写了一张明知是.
  6. Choose from our selection of NSF/ANSI-standard check valves, including over 130 products in a wide range of styles and sizes. In stock and ready to ship
  7. 按照百度百科NSF里面的说明,满足NSF认证的产品符合以下几条。. 1、可以达到该产品说明书中标注的祛除杂质的能力. 这一条达不到的话那就是妥妥的假冒伪劣产品。. 2、组成该产品的材料不会在处理水的过程中向水中添加污染成分. 这一条达不到的话那就是严重.

NSF/ANSI 4 - Commercial Cooking, Rethermalization and Powered Hot Food Holding and Transport Equipment. NSF/ANSI 5 - Water Heaters, Hot Water Supply Boilers, and Heat Recovery Equipment. NSF/ANSI 6 - Dispensing Freezers. NSF/ANSI 7 - Commercial Refrigerators and Storage Freezers. NSF/ANSI 8 - Commercial Powered Food Preparation Equipment Much of this money is readily recoverable by VeriCheck's electronic NSF recovery services. This service eliminates you, the merchant, from having to try and collect on a returned check. VeriCheck will pursue recovery of the check to the fullest extent of the law at no additional cost to your organization •Generally known as NSF or insufficient funds •Used when a paying bank determines that the balance in the account is not sufficient to pay the check •One of the most common return codes •ustomer return code 'A' -Not Sufficient Fund This, of course, is the easiest way to record an NSF check in Quickbooks. If you have Quickbooks set up in multi-user mode, however, you must record NSF checks manually. this is done by creating an account for the transaction, creating an item for the NSF fee, recording the NSF fee from your bank, and then reversing the original payment 1. NSF Checks with redeposits 2. Bank errors and corrections this month or next month. mukhang weird pero tama yan. bukas na yung explanation, antok na ko wag lang imemorize ah kasi hindi yan all-encompassing, meaning to say from case to case basis yan, depende sa tinatanong. pero yan yung case na madalas lumabas sa quiz

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Civil Provisions. 30.701 Actions against maker of dishonored check; statutory damages and attorney fees; handling fee. (1) In any action against a maker of a dishonored check, a payee may recover from the maker statutory damages in an amount equal to $100 or triple the amount for which the check is drawn, whichever is greater Login-ID: Password: Reset Passwor NSF and ISF mean that at the time the check was presented to the account holder's bank, there were not enough funds in the account to pay the check or draft. When a check is returned for NSF or ISF, the item can be redeposited unless the front of the item is stamped DO NOT REDEPOSIT Free Bad Check Collections provides all types of Businesses with a FREE Automatic and Effective Bounced Check Recovery Service. This enables you to manage your business without the time and hassle of bad check collections. Electronic NSF Bad Check Collection coupled with a traditional collection for those returned items where electronic collecting is not possible

Unless full payment of the check is received by cash within 30 days after the date this demand letter was mailed, together with $____________ in bank fees (write amount charged by your bank to process the bad check, not more than $25 for the first bad check or $35 per check for other bad checks), and $_____________, the cost of mailing this. In Canada, all kinds of fraudulent acts are considered criminal offenses. It lies on the notion that any form of dishonesty to commit an exploitative act against others is a crime. Thus, Canadian laws that pertain to the issuance of bad checks should not be taken lightly. There are no laws in Canada that address. The check you wrote for $_____, dated _____, which was made payable to _____(write your/payee's name here), was returned by _____ (write name of bank) because _____(account was closed OR the account had insufficient funds). Unless full payment of the check is received by cash within 30 days after the date this demand letter was mailed, together. Workflow: Voiding a Receipt when the Check is Returned as NSF. When a customer's check is returned by the bank due to non-sufficient funds, you must void the receipt. The steps to void the receipt are tied to the handling of the NSF fee and any additional fees you charge the customer. The following options are available If the check is stamped NSF, REFER TO MAKER or ENDORSEMENT CANCELLED: Use the U.S. Mail to send a certified notice (see below) with return receipt requested to the check writer . This notice must be sent to the address on the check and must give the check writer 10 business days from the receipt of notice to make the check good

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Insufficient Funds (NSF) Check Return Financial Services Cash Accounting handles the returned check chargebacks from departmental deposits. Checks that are part of a departmental deposit can be returned for Returned Checks: If you deposit a check that is returned for insufficient funds (NSF check) it is the policy of most banks in Maine to assess your account a fee for each NSF check deposited. If the bank redeposits the check a second time and it bounces, the fee can be charged a second time Bad check is a term for a check that is dishonored or bounced because of insufficient funds in the account or the non- existence of the account. A check is dishonored when there are not enough funds in the bank account on which the instrument is drawn. The term NSF or non- sufficient funds denote that a check cannot be honored since the amount. Standard NSF Research Proposals: 1. Formatting Rules - applies to ALL proposal documents Typeface/Font Size Arial, Courier New, or Palatino Linotype at a font size of 10 points or larger; Times New Roman at a font size of 11 points or larger; or Computer Modern family of fonts at a font size of 11 points or larger When a check is returned due to NSF, it's returned to the payee that deposited the check, at their bank. When you cash or deposit a check and there's not enough funds to cover it in the account it's drawn on, this is also NSF. When a check is returned for NSF in this manner, the check is generally returned back to you