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Understanding DAIF in Banking

DAIF stands for "Drawn Against Insufficient Funds" and refers to when a check is returned by a bank unpaid because the account has insufficient funds to cover it. When a check is returned as DAIF, it means the account did not have enough money available to pay the check. Several websites provided this definition of DAIF and explained that it occurs when a depositor's account balance is inadequate for the bank to pay a presented check.

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0% found this document useful (0 votes)
8K views2 pages

Understanding DAIF in Banking

DAIF stands for "Drawn Against Insufficient Funds" and refers to when a check is returned by a bank unpaid because the account has insufficient funds to cover it. When a check is returned as DAIF, it means the account did not have enough money available to pay the check. Several websites provided this definition of DAIF and explained that it occurs when a depositor's account balance is inadequate for the bank to pay a presented check.

Uploaded by

Nielgem Beja
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

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Drawn Against Insu cient Funds


DAUD, to begin with, is an acronym which stands for “Drawn Against Uncollected
Deposits,” while DAIF refers to “Drawn Against Insufficient Funds.” DAUD means that
the account has, on its face, sufficient funds but not yet available to the drawer because the
deposit, usually a check, had not yet been cleared. Aug 31, 2014

[Link] › 2014/08/31 › on-banks-an...


On banks and checks: DAUD and DAIF, distinguished ...

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What does DAIF mean? - Business - Definition and Meaning ...
Get DAIF : Definition and Meaning. ... This site contains various terms related to bank,
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What does DAIF stand for? - [Link]
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DAIF - What does DAIF stand for? The Free Dictionary
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DAIF Meaning in Banking - [Link]
DAIF Meaning in Banking - What does DAIF mean? The meaning of DAIF is Drawn Agaist
Insufficient Funds and other meanings are located at the bottom which ...

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DAIF - Drawn Against Insufficient Funds | AcronymFinder
DAIF is defined as Drawn Against Insufficient Funds rarely. ... This definition appears rarely
and is found in the following Acronym Finder categories: Business ...

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[Solved] what does DAIF mean in accounting? and can you ...
DAIF is a condition in which a depositor's balance is inadequate for the bank to pay a check.
DAIF Checks or "Drawn Against Insufficient Funds" are ...
2 answers

[Link] › advisories › faqonbspcircular681


Frequently Asked Questions on BSP Circular 681 - [Link]
... is allowed by the BSP to return DAUD or DAIF checks, we will no longer be able to ... How do
I enroll my account to UCPB's Internet Banking or Telebanking?

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DAIF - "Drawn Against Insufficient Funds" by ...
What does DAIF stand for? Hop on to get the meaning of DAIF. The Acronym /
Abbreviation/Slang DAIF means Drawn Against Insufficient Funds. by ...

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Missing: bank | Must include: bank

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PCHC Charges l BPI
Fixed Fee. PHP 1,000.00. - Additional Fee. PHP 200.00 for every PHP 40,000.00 or a fraction
thereof per day. Temporary Overdraft – Returned (DAIF / DAUD) 2.

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