bank penalty interest generally occurs in loan behavior, that is, the penalty paid for not returning the loan on time; The penalty for bad checks is due to the payment made by issuing bad checks, which is obviously different from the former.

the difference between the penalty interest of the bank and the penalty for a bad check

when using a check, the drawer needs to deposit enough money in the bank before issuing a check to the payee or holder. However, if the amount deposited by the drawer is not enough to pay for the check, it is a bad check. This situation will be punished, and the People's Bank of China will impose a fine of 5% of the face value but not less than that of 1 yuan; The drawer shall pay at the designated fine collection agency within the specified time limit, and if he fails to pay within the specified time limit, he shall be fined 3% of the fine every day, the bank shall stop issuing checks to violators, or the people's court shall take enforcement measures.

the penalty interest is the penalty imposed on the borrower who fails to repay the loan on the specified date. And overdue, the lender will raise interest rates during the remaining loan period. Generally, the penalty interest will be calculated according to the regulations of the People's Bank of China, and the penalty interest rate will be 3%-5% higher than the loan interest rate specified in the loan contract until the principal and interest are paid off. If it has not been repaid, it has also been included in the list of people who have lost their trust and have been sued by the other party. Therefore, although both are fines, their nature is different.

what if the payee gets a bad check and can't cash the money?

claim the bill right to the people's court within 6 months after the cheque is issued, and demand the drawer to pay the face value of the cheque and the compensation of 2% of the face value with the blank cheque and the reasons for dishonor as evidence. If it is six months after the cheque is issued, the holder has no bill rights. At this time, if the holder wants to safeguard his own rights and interests, he must go to court to prosecute according to the actual civil acts between the two parties, such as the purchase and sale contract for purchasing goods between the two parties and the loan contract for borrowing money. If it is found that the drawer knows that he has no repayment ability and deliberately writes a check to defraud property, the holder can report the case to the public security organ. Investigate the criminal responsibility of the drawer.