Bouncing Cheques. Help me, especially Filipinos!
By phyrethyme
@phyrethyme (1267)
Philippines
September 4, 2010 4:52am CST
I have a checking account. I issued a cheque to pay for our rent. The account is of course, funded by my Dad. My account is used because he doesn't have one anymore.
The problem is that my Dad hasn't deposited funds to the cheque and the landowner will probably encash it anytime.
What will happen? The cheque will bounce right and the bank will call me up to deposit funds and pay for penalty?
What if I won't be able to deposit funds and pay for the penalty?
What will happen? I'm from the Philippines by the way. I have an account in Security Bank. I don't know if rules in checking account are universal. I would like to hear from you guys aside from reading references online.
Thank you.
1 person likes this
4 responses
@phyrethyme (1267)
• Philippines
5 Sep 10
As far as I know, you're not supposed to use someone else's name to obtain a checking account. I opened under my name because my Dad couldn't. It's for our rent, which is his responsibility. The landowner and the broker know that even though the cheque is under my name, my Dad's still the one paying.
1 person likes this
@phyrethyme (1267)
• Philippines
14 Sep 10
It's his responsibility, he's the breadwinner. Just to make things clear, it's just not "my" rent, I live with my mom, brother and sisters.. My parents are not together.
1 person likes this
@kennzsniper (170)
• Philippines
4 Sep 10
You should ask your dad to deposit money for the account ASAP.
Please contact your landlord and advise what has happened.
Once, the check bounces, you will be liable and will have to pay around 2000 PHP for each bouncing check.
Also this can be used as grounds for estafa.
1 person likes this
@chiyosan (30183)
• Philippines
17 Sep 10
oh, you just have to ask your father to fund the checking account and tell your land lady to not deposit the check first until you inform her that it is okay to deposit the check, as you are waiting for your dad to fund the account. i am sure she will understand if this is not a habitual monthly request for delayed payments.
1 person likes this
@sid556 (30959)
• United States
10 Sep 10
Hi Phrethyme,
The rules vary from bank to bank. I am in the states and if you write a bad check then you will be expected to pay for the check plus the fees which are usually around 30.00. If you do not pay it, they will close your account and you will not be able to open another bank account in the area until you make things right with the bank....you will have to at least pay the fees. Then the problem is with your landlord who still has not been paid because you did not have the money in the bank. He will expect to be paid for the rent and also the fees that he was charged for trying to cash a bad check. You could get taken to court and evicted from your apartment and you will still owe the rent for the time that you stayed there. I think it is pretty much the same everywhere. The difference would be mainly in the amount of the fees.
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