What happens if there is a NACH bounce in my bank account? : Knowledgebase

What happens if there is a NACH bounce in my bank account? Print

Modified on: Mon, 13 Jun, 2022 at 5:14 PM

If your bank account does not have sufficient balance on the day of deduction, a penalty charge may be levied by your bank for non-payment.

As per the 'Payments & Settlement Systems Act 2007', NACH bounces will be treated at par with cheque bounces. The financier can thus file a cheque bounce case if the NACH is dishonoured.

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What happens if there is a NACH bounce in my bank account? Print

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