So what happened in the previous cases of a Google check bouncing? What is the likely story? We know it is unlikely that Google won't have funds in their bank accounts, especially the accounts used for paying AdSense publishers.
A long WebmasterWorld thread had a recent report of a bounced check. This time the forum members and I were not going to let this go. We kept grilling the person who reported the issue to bug the bank and get more details. After dozens of calls and speaking with several people at his bank, he found out the true reason as to why the check was "bounced."
In fact, the check was fine and should have been cleared into the account. However, the bank thought that this individual, who happens to deposit a check from Google very month, was defrauding the bank and Google.
A woman at National City Bank named Rachel, told the bank customer, that several individuals have tried to cash fraudulent Google checks at National City. Due to this, the bank put a hold on the check and told him that it bounced. Again, this individual has been an AdSense publisher for two years and has been depositing Google checks at that bank for 18 months.
I suspect this is much more likely a reason for a Google check to "bounce," when compared to Google not having the necessary funds in their bank account.
Forum discussion at WebmasterWorld.