nothing need do anything so vulgar as bounce

Back in the day, if you wrote a cheque or a series of cheques for more than you had in your bank account, the cheque would bounce. This mostly happened before computerized banking when bank accounts were harder to access. However, it's not uncommon to do this day. Many businesses will not accept cheques for this very reason.
Say I wrote a cheque to the gas company for $100, but my account only had $90 in it. The bank would refuse to honor my account, the gas company would get a notice of a bad cheque, and a fee to process the NSF (Insufficient Funds) cheque and a late fee.
Your bill would then be modified to show your error. It could be quite embarrassing, however some people do/did this in a criminal manner, so it can also be known as cheque fraud.

Thank you!