Final answer:
A part of a check cashing scheme is often characterized by being overpaid by check and asked to refund the surplus, which could point to the original check being fraudulent. A legitimate check payment, once deposited or cashed, allows the recipient to access funds after bank processing. Overdrafts happen when payments exceed the account balance, leading to negative balances and fees.
Step-by-step explanation:
The scenario which describes part of a check cashing scheme is: Jen is notified that she was overpaid by check and sends a personal check with the balance. This situation is indicative of a classic check fraud scenario where a person is led to believe they have been overpaid and must return the difference, often finding out later that the original check was fraudulent. In a legitimate transaction, you use a check for payment for goods and services by writing the check to the payee who then deposits it into their banking account.
The store or individual can access the money once the check clears, meaning the bank has confirmed there are sufficient funds and has processed the payment. An overdraft occurs when an individual writes a check or makes a payment without enough money in their account to cover the transaction, resulting in negative account balance and additional bank fees.