What is the bounced cheque fee and what legal action can be taken? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the bounced cheque fee and what legal action can be taken?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

If a cheque is presented and it turns out that there are not sufficient funds, the bank refuses to pay it and charges a (cheque rejection fee) to the account of the drawer (the issuer of the cheque).

The bank gives the beneficiary an official “notice of rejection”, on the basis of which he has the right to go to the criminal courts immediately, as this is the crime of issuing a cheque without sufficient funds under Egyptian law.

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