The most common and most likely answer to this crossword clue is the 3 letter word DUD
I've seen this crossword clue in Financial Times
D
U
D
More clues leading to the result DUD
- Guy in Washington, mostly useless
- A failure going back and forth
- Uniform worn by daughters is no good
- Useless Edmund ignoring odd characters
- Turkey salad you served finally
- Ineffective pair of departments probed by university
- Regularly visiting druids? That doesn’t work
- Such a cheque is no good, even when returned
- Bust of Edmund I, oddly effaced
- Failure may be slander, with daughter in for leader
Buddy explains!

The straight part
We know that "Such a cheque is no good" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case such a cheque is no good = dud.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DUD mean?
DUD noun- A device or machine that is useless because it does not work properly or has failed to work, such as a bomb, or explosive projectile.
- A failure of any kind.
- Clothes, now always used in plural form duds.