iCPA.

RFBT
Topic: Key Concepts in Bouncing Checks Law

The making, drawing, and issuance of a check payment of which is

refused by the drawee because of insufficient funds in or credit with
such bank, when presented within 90 days from the date of the check,
shall be prima facie evidence of knowledge of such insufficiency of
funds or credit unless such maker or drawer pays the holder the
amount due, or makes arrangements for payment in full by the drawee
of such check within five banking days after receiving notice that
the drawee has not paid such check.

Credit is an arrangement or understanding with the bank for the

payment of a check.

The maximum fine that can be imposed on the accused in case of

conviction is P200,000.

A person who issued a bouncing check may also be prosecuted for.

estafa punishable under the Revised Penal Code, aside from being
criminally liable under BP 22.

If a check was dishonored due to a stop payment order, the drawee

bank is obliged to explicitly state in the notice of dishonor whether
or not there are sufficient funds had there been no stop payment
order.

A check that was dishonored due to a closed account is also a check

dishonored due to insufficient funds.