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 ?
He directed the municipal committee chairman Ghulam Mustafa Brohi to immediately stop releasing the city's sewage into the canal and ordered him to remove all drains and stop payment to the contractor of the drainage scheme.
"If you have funds in trust that are subject to a garnishment and you have written a check and you are aware the check has not cleared, you must take steps to stop payment on it [when the writ is received]," Silverstein said.
I arranged for a stop payment on the employee's paycheck, but I haven't yet issued a new check to him with a deduction for the $50 loan repayment.
As a vendor, you may experience the following benefits by accepting this new payment type: Improved cash flow and accelerated payment Reduced paperwork and a more streamlined accounts receivable process Elimination of stop payment issues Reduced payment delays Reduced costs for handling paper checks Payments settled directly to your merchant account
So when we received 790 [Swift] messages, our officers proceeded to read the e-mails sequentially, unless we had a stop payment which would be the first that we would read or high priority messages, none of which applied to the Bangladesh Bank, Estavillo said.
It also ordered DIG police to stop payment of salary to investigation officer and produce him in next hearing.
They have the power to stop payment of all or part of Harrison's purse if they decide the 2000 Olympic gold medallist, who was booed by the crowd, did not try.
The department issued stop payment orders because of which the refund outgo in two cases could be prevented.
The Florida Supreme Court has ruled that lawyers have an obligation to issue stop payment orders on checks issued from their trust accounts if they are served with writs of garnishment seeking that money.
So when we received 790 [Swift] messages, our officers proceeded to read the emails sequentially, unless we had a stop payment, which would be the first that we would read or high priority messages, none of which applied to the Bangladesh Bank, Estavillo said.
KARACHI, October 27, 2010 (Frontier Star) : The industrial sector has sounded alarm bell of massive closure of industries in Karachi if the KESC and SSGC would go ahead of their plan to carry out load-shedding in industrial areas and industries compel to stop payment of bills to both the utilities agencies.
The new implementation would help the bank provide services such as account inquiry, funds transfers, bill payment, chequebook request and stop payment orders.