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Even a small mistake in the check can cause you heavy losses. So it becomes important for you to know what mistakes should not be made in the check.
In this era of digital transactions, money transactions through checks are still relevant today. People are still more secure than ever on the transaction of money through checks. Many types of frauds come to the fore through the Internet. Terms and conditions are prescribed for check transactions. How to fill the check, what information has to be given in the check and for which reasons the check will bounce etc.
It is often seen that people make mistakes while filling the check and the check bounces. Banks charge a heavy fine from the customer when the check bounces. In this case, even a small mistake in the check can cause you heavy losses. So it becomes important for you to know what mistakes should not be made in the check.
Do not make the mistake of overwriting on the check or using two colored pens and cutting on the check. This affects your credit score. Your check may bounce if you make a mistake in filling the check. Banks deduct money from your account as a penalty. Different banks charge fines at different rates.
It is often seen that the amount that an account holder enters in a check is not in his account. The check bounces due to lack of that amount and another signature change. Mistakes in writing words or overwriting on checks etc. are also among the major reasons for check bounce.
