dishonour
verb [ T ]
UK ( US dishonor) uk/dɪˈsɒnər/ us BANKING
if a bank dishonours a cheque, it refuses to pay it because there is not enough money in the account of the person who has written the cheque:
The Bank of Australia reversed its decision to raise fees for dishonored checks.
FINANCE
to refuse to accept or pay a bill of exchange
formal
to refuse to do something that you previously agreed to do:
The government has been accused of dishonouring its pledge to upgrade London's underground network.