Bounced check occurs usually due to – Drawn Against Insufficient Funds (DAIF) which means any unfunded check will be considered as returned or bounced checks. At the same time, a returned check will be charged a fee of Php 2,000 (AUB) – Php 2,400 (other Bank) plus Php 200 for every Php 40,000 fraction of the check amount per day. 

CDC Homes will automatically redeposit bounced check/s without the need to inform the client. This can result to the client being charged with the amount indicated in the check plus the bank fee for any bounced check/s.

There are cases wherein the checks have alterations, the bank does not usually accept them.  The billing department will notify the client for an immediate replacement of the check/s.

As a general rule of Banks, if a check is redeposited 3 times and still has insufficient balance, the client’s checking account will be closed permanently. But as per the practice of CDC Homes, we pull out checks on its 2nd try, inform the client of the status of his/her check, and ask the client to issue another check as a replacement.