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Insufficient Funds
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

A term used in banking practice when checks are returned not payable because the drawer does not have sufficient monies in his account.  When a check for which the drawer has insufficient funds is presented for collection through the clearinghouse or otherwise, the drawee bank returns it to the presenting bank for credit (by messenger or otherwise) with a memorandum slip attached on which the words "insufficient funds," or "not sufficient funds," are printed.

When a check is presented for payment and a doubt exists, the paying teller examines the account of the drawer to see that sufficient funds are on hand.

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