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 ?
To this query, the RCBC chief invoked the Bank Secrecy Law and and declined to reveal specific details about the transaction, but offered an explanation of general procedures pointing to the responsibility of the branch manager to execute the stop payment order.
Pressed further if RCBC's head office sent the stop payment order to Maia Santos-Deguito, the manager of its now controversial Jupiter St.
Until that point, a payor may issue a stop payment order on the check, transfer the funds to another account, or even liquidate the bank account.
Bankruptcy Law, Delta must determine whether it will resume payments or permanently stop payments during the 60 day period.
Business customers can write checks, make deposits, stop payments, and execute wire transfers.
Panhandle State Bank will employ a broad range of functionality through Web Cash Manager including information reporting, wire transfers, ACH, stop payments, positive pay, and a link to bill payment.
Fulton Financial will utilize a broad range of Web Cash Manager functionality including wires, ACH, real-time host inquiries, reporting, transfers, stop payments, cash concentration, bill pay, positive pay, and Quicken and QuickBooks interfaces.
Deposit/Loan Management - Integrated management of information for commercial deposits and loans, stop payments, account transfers and positive pay
Example self-service capabilities include address changes, check reorders, stop payments and password resets.