issuing a cheque whilst no money in your account?

Question

my mate was stack financially and he owed someone money(£400). he came to wanting a postdated cheque of which i did though there wasn't enough money in the bank to honour the cheque. Definately the cheque will bounce. i am worried because i dont know how much money the bank will charge me and for how long.

Answer 1

Issuing a cheque, knowing there isn't funds to cover it it a criminal fraud.

Tell your bank and get the cheque stopped - they'll charge you, but it will be less than if they bounce it.

Answer 2

If you wrote your card details on the back and the card covers values up to £400 then they should honour the cheque but will charge you a mis use of card fine and then another fee of paying the cheque without any money in the account aprrox £60 in UK, depending on the bank.

If there was no card number on the back, they will bounce the cheque, normally there isn't a fee for this but some banks may charge.

If you paid the cheque into your account you won't be charged anything as it's not your account that is bouncing.

Answer 3

Naughty.The bank will come down on you. The cheque will bounce. Your mate is in trouble with whoever the money is owed to.So you are all in the mire.The bank will charge you possibly £30to £35 for the cheque bounce.This is cheaper than going overdrawn or they will charge you for each day you are OD.What this will mean to your mate I don't know as it depends what the £400 was for.If it was for rent he/she will probably find their belongings out on the pavement and nowhere to go.It's a problem all round isn't it?

Answer 4

There is generally a one-off charge for having a cheque refused, think my bank charges about £20.

Answer 5

If you are paying the cheque in to your account the bank wont charge you, but your friend will get charged, which depends from bank to bank, probably about £30ish.

You can pay it in but, don't expect it to go through, just make sure you don't use that money before it has cleared (4days) in case it takes you overdrawn.

Answer 6

That was a daft thing to do!

You better contact your bank pdq (pretty darn quick!), tell them what you've done and try to come to some agreement as to how to clear the unauthorised overdraft and what the charges are likely to be - charges vary from bank to bank.

Answer 7

why write him a cheque? cant he write his own? you'll be charged about £40 for it bouncing
if it was post dated cant yr mate pay the moneys into yr account before that date?

Answer 8

ring bank and explqain