Green’s Dictionary of Slang

1. (US Und., also bouncy, bouncy-bouncy) a bad cheque.

1927		New Republic 26 Jan. 277/2: ‘Bouncer,’ for instance, may be either (1) a rubber check, returned by the bank as no good, or (2) the person who passes (bounces) the rubber check [DA].
1930		Amer. Mercury Dec. 454: He slips me a bouncer [W&F].
1931		Irwin Amer. Tramp and Und. Sl. 35: Bouncer. — [...] a worthless or ‘rubber’ check.
1933		Ersine Und. and Prison Sl.
1939		Howsley Argot: Dict. of Und. Sl.
1944		Sun (Sydney) 5 Nov. 2: The man who proffers a ‘bouncer’ to his butrcher or his grover or his publican is liable to a long term of imprisonment.
1950		Goldin et al. DAUL 32/2: Bouncer. A bad check.
1954		Advocate (Burnie, Tas.) 15 July 7: Bwe arned! Don’t accept a ‘bouncer’ .
1960		(con. 1950-1960) R.A. Freeman Dict. Inmate Sl. (Walla Walla, WA) 16: Bouncer – a worthless check.
1983		R. Price Breaks 192: Her balances ranged from forty-three dollars to six hundred, including a few bouncers here and there.
2001		D. Looser Boobslang [U. Canterbury D.Phil. thesis] 28/1: bouncy (also bouncy-bouncy) n. a cheque rendered invalid by lack of sufficient funds.

2. a person who passes a cheque, knowing that one has insufficient funds in one’s bank account.

1927		see sense 1.
1940		R. Chandler Farewell, My Lovely (1949) 22: H.P.D. means Hotel Protective Department, which is the department of a large agency that looks after cheque bouncers and people who move out [...] leaving unpaid bills.