Can you resubmit a bounced check

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Preventing Returned Checks. By Justin Pritchard. Justin Pritchard, CFP, is a fee-only advisor and an expert on personal finance. He covers banking, loans, investing, mortgages, and more for The Balance.

He has an MBA from the University of Colorado, and has worked for credit unions and large financial firms, in addition to writing about personal finance for more than two decades. Learn about our editorial policies.

When a check you deposit is returned due to insufficient funds, you face the possibility of lost income as well as bank fees. You can redeposit a bounced check. However, you should confirm that the money is available before submitting the check to your bank.

Inform the check issuer that his check bounced and ask if the funds are currently available before depositing the check again.

The cause of the bounced check could be a simple logistical error. For example, maybe the issuer transferred the wrong amount of money into his checking account, or one of his deposits didn't clear in time. If this was your first bounced check, contact your bank and ask them to waive the fee. A returned payment fee is a charge incurred when a consumer bounces a payment. Banks and other financial institutions charge their consumers returned payment fees.

It usually takes from one day to a maximum of ten working days to bounce back money sent to a closed bank account. However, this differs from bank to bank. Deposits sent to a closed bank account or canceled debit card may be held by your bank until you contact them.

Your bank may also issue a check to the address they have on file for you. If the debit card number you used has changed but the bank account is still active, the funds may be returned to your Cash App. A closed account cannot receive funds, be it money sent via direct deposit, refunds, reversals, or what have you. A closed bank account is shut and cannot take in any funds; neither can it transfer funds or be used to make transactions.

You see, when you close an account, money sent to it will bounce back.