BANKING AFFAIRS

Detailed explanation-1: -What are Non-Sufficient Funds? Non-sufficient funds, or insufficient funds, is a banking term used to indicate that the checking account does not have sufficient balance to cover a transaction or payment. Colloquially, NSF checks are also called “bounced” or “dishonored” checks.

Detailed explanation-2: -Non-sufficient funds (NSF), or insufficient funds, is the status of a checking account that does not have enough money to cover all transactions. NSF also describes the fee charged when a check is presented but cannot be covered by the balance in the account.

Detailed explanation-3: -Non-Sufficient Funds (NSF) Fees. Overdraft Protection Programs.

Detailed explanation-4: -Example of Not Sufficient Funds Smith deposits. Upon presentation of the check, Mr. Jones’ bank refuses to honor it on the grounds that there are only $300 in his checking account. This is a not sufficient funds check.

Detailed explanation-5: -NSF stands for “not sufficient funds”. An NSF check is one that is not entertained by the bank of the company issuing the check, on the grounds that its bank account does not contain sufficient funds or the bank account has been closed.