Stop payment


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Related to Stop payment: Stop Payment Order

Stop payment

An order given a depository institution not to pay out cash for a check; often used when the check has been stolen or lost.

Stop Payment

An order to a bank or other financial institution not to make payment on a check drawn on that account. For example, suppose Bob writes a check to Joe. Bob may go to his bank and stop payment, which means that Joe will not be able to collect the funds written to him. Generally speaking, one stops payment on a check when it has been lost or stolen.
References in periodicals archive ?
A] payor of a check may issue a stop payment order after the check has been written in an attempt to prevent the check from being paid and the funds from being transferred to the payee," Pariente wrote.
In addition, you might also ask the employee whether he was charged any fees from the bank for the stop payment, and offer to reimburse him.
Alternatively, AME argued that any stop payment duty applied only to banks and thus was not applicable to AME as a nonbank garnishee.
Although Medicare officials state that they are taking steps to more carefully track beneficiary deaths and stop payments, approximately $1.
Others, such as inquiries about the status of various accounts, deposit and loan rates, and stop payments will be available as fully automated services or through contact with a live representative, at the customer's discretion.
Submit payment inquiries and stop payments on online bill payments.
The industry also will have to stop using cartoon characters in ads; cease billboard, bus and sports arena advertising; stop payments to promote products in movies; and prohibit youth access to free samples.
The new product is a system that allows the customer to use a personal computer to access account information and initiate a wide array of transactions, such as stop payments and funds transfers.