Bounced checks come at a very high cost to any company and to the issuer. Please only make checks payable in amounts you can afford and make sure none of the following apply.
* You forget to enter a check, debit purchase, or automatic withdrawal in your checkbook and think you have more money in the account than you do.
* Your forget to check with your spouse, parent or any person who can legally withdraw money from your account to verify that they withdraw money or will by the time the check is deposited
* You forgot to balance your checkbook recently
* You write a check expecting to be able to make a deposit before it clears.
* You write a check knowing that you don’t have the money to cover it.
* Your bank or credit union makes a mistake and your account shows less money than it should.
* Your debit card is used by a crook (or maybe a friend or relative who decides they need your money more than you do).
* Your bank indicates a balance that includes available overdraft protection (see below) rather than your actual balance.
* Someone writes a check to you, you deposit it, and their check bounces. You’ll probably pay a fee to your bank for depositing the bad check, and if you’ve written checks against that balance, your checks will bounce.
What you can do to avoid bouncing checks and their nasty legal consequences:
1. Sign up for an overdraft line of credit, or find out if you can use your savings account as protection if you accidentally write a check and there is not enough money in your account.
2. Balance your checkbook, or at least become fanatical about writing transactions in your checkbook and keeping a running total.
3. Remember to enter recurring debits in your checkbook.
4. Monitor your accounts online and set up online alerts to your email or cell phone if your balance dips below a certain amount.
Why you should care - Virginia Law
A bad check charge in Virginia can be either a felony or a misdemeanor based on the amount of the check. If the amount of the check was $200 or more, it is a felony offense. If the amount of the check is below $200, it is a misdemeanor.
Once you receive a bad check notice in the mail, you must pay it within five (5) days. If you don’t pay the bad check within the 5 days you can be charged with issuing a bad check in violation of Virginia State Code 18.2-183.
In any prosecution or action under the preceding sections, the making or drawing or uttering or delivery of a check, draft, or order, payment of which is refused by the drawee because of lack of funds or credit shall be prima facie evidence of intent to defraud or of knowledge of insufficient funds in, or credit with, such bank, banking institution, trust company or other depository unless such maker or drawer, or someone for him, shall have paid the holder thereof the amount due thereon, together with interest, and protest fees (if any), within five days after receiving written notice that such check, draft, or order has not been paid to the holder thereof. Notice mailed by certified or registered mail, evidenced by return receipt, to the last known address of the maker or drawer shall be deemed sufficient and equivalent to notice having been received by the maker or drawer.
If such check, draft or order shows on its face a printed or written address, home, office, or otherwise, of the maker or drawer, then the foregoing notice, when sent by certified or registered mail to such address, with or without return receipt requested, shall be deemed sufficient and equivalent to notice having been received by the maker or drawer, whether such notice shall be returned undelivered or not.
When a check is drawn on a bank in which the maker or drawer has no account, it shall be presumed that such check was issued with intent to defraud, and the five-day notice set forth above shall not be required in such case.
If we receive a returned check from our bank for a payment you made, you will be invoiced for the original amount of the check plus a $55 bank fee per check or five percent (5%) of each check amount whichever is greater. The payment of the invoiced amount will be due within 10 days of invoice date. We will NOT re-submit the original declined check.
If we receive notification from our bank that your check was marked as Non Sufficient Funds (NSF) we will send you a collection letter by Certified US Mail notifying you of the returned check and outlining the consequences of not honoring payment. We understand that things may go wrong once in while. To avoid legal action, repayments must be made out to Wag'N O2 Fur Life and mailed to Wag'N O2 Fur Life, 11654 Plaza America Dr, Suite 603, Reston, VA 20190 within 5 days of receiving notification.
The total invoice amount, including the bank fee penalty must be in the form of Cashier’s check or Money order.
Following an instance of Bounced Check, the company will no longer accept personal or company check payments from those customers or entity they represent.