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Check Returned reason 31: how to settle

There are several reasons why a check bounces. Do you know what they are? Check here the main reasons for the bounced check and what must be done to rectify this situation.

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Know what to do in case of a bounced check

Cheque devolvido motivo 31. O que fazer? Fonte: Pexels.
Check returned reason 31. What to do? Source: Pexels.

Paying by check is falling into disuse every day, but there is still a large portion of the population that prefers to use the check when making their purchases or settling a debt with their creditor. But what happens when the check is returned by the institution and why does this happen? Today we are going to talk about the rules stipulated by the Central Bank on the return of checks, including the check returned reason 31.

Want to know how to resolve this situation? So, don't waste your time and continue reading below!

Reasons for having a bounced check

Well, there are several reasons for the bank not to accept the deposit of the check and to signal its return. Insufficient balance, errors when filling in and discrepancies in the signature are among the most common and the financial institution has a duty to inform the customer of the reason for the return. 

So, the reasons for a returned check are stipulated by the Central Bank of Brazil through a list with the codes assigned to the occurrences that must be identified on the back of the sheet by the financial institution that received the check. In this way, the customer quickly identifies what happened and can rectify the situation. 

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What happens when your check bounces?

Mas, o que acontece quando seu cheque é devolvido? Fonte: Pexels.
But, what happens when your check bounces? Source: Pexels.

First, it is important to identify the reason. This is because it is from this point that you can take steps to regularize the situation. Then, contact the financial institution responsible for your checking account and ask why the check bounced. Then ask for guidance on what should be done.

In this sense, it is important to highlight that the check is a form of payment. Therefore, you have an outstanding debt that you need to pay off. Pay attention to your account balance if the reason for the return is insufficient balance, as there is a deadline stipulated by the bank for resubmitting the sheet. And, in the event of a new return, your name can be entered in the Register of Bad Check Issuers. 

So, are you interested and want to know more about it? Below are the most common reasons for bounced checks and what you should do when they happen. 

Check Returned reason 31

Well, when the check is returned for reason 31, it means that a formal error was made when filling it out. That is, you may have forgotten to put the issue date or filled it in numerically instead of writing the month in full. 

Two other errors that characterize reason 31 are the absence of a signature or filling in the value only numerically, not recording it in full in the required field.

Check Returned reason 22

So, the check returned for reason 22 happens when you don't sign the document completely or if your signature is different from the one the bank has on record. This is a common reason for returns, so be careful when signing the check so that there are no discrepancies with your registration with the financial institution.

Check Returned reason 11

Perhaps the most common reason for bounced checks, reason 11 characterizes the first presentation of a bad check. This happens because the check is not cashed upon payment and the account balance does not cover the amount paid upon presentation to the bank.

Normally, the bank contacts the customer to report the return and stipulates a deadline for taking the necessary measures. Then, it is necessary to credit the necessary balance in the current account so that another return does not occur in the second presentation of the check.

Check Returned reason 44

So, the deadline for presenting a check to the bank is 30 and 60 days after its issue date. When this does not happen, the prescription process begins, which lasts 6 months. Thus, if the beneficiary presents the check after this period, the bank will return it. 

The code for this cause is reason 44, which means check expired. In this case, the bank is unable to discount the amount even if the issuer's bank balance is positive. 

Check Returned reason 48

Finally, reason 48 is when the completed check has an amount greater than R$100.00, but the beneficiary is not identified. When filling out a check, it is very important that all information is entered in accordance with Central Bank regulations. That way, you don't run the risk of having your check bounced. 

How to settle when a check bounces?

Então, como regularizar quando um cheque é devolvido? Fonte: Pexels.
So how do you settle when a check bounces? Source: Pexels.

First of all, you need to prove the payment of the amount due to the bank. Then contact the creditor and negotiate the debt. By making the payment, you can redeem the check from the financial institution without much work.

For this to happen, you need to go to the bank issuing your checkbook with the returned check and proof of payment. That way, you regularize the situation and prevent your name from being included in the database of credit protection bodies.

Now that you know what to do to solve this problem, how about getting to know how the check loan works? So, read our recommended content and check it out!

Loan by check: how does it work?

Want to borrow a value, but don't know how to do it? Know that it is possible to borrow with a check. See how it works and its advantages.

About the author  /  Aline Barbosa

Writer and producer of content for various subjects, she is passionate about writing and the new. Always in search of knowledge, it aims to transmit what it has learned in a light and uncomplicated way.

Reviewed by  /  Junior Aguiar

Senior Editor

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