07/23/2007
A customer has a monthly insurance premium set up to automatically be debited from his or her checking account. The customer comes into the bank and wishes to place a stop payment on the ACH draft. If we load a stop payment order to their account, what should our expiration date be? Our normal expiration date on a check is 6 months. Our deposit operations department seems to think we can only guarantee a stop payment on a draft for 1 month. Is this correct and what regulation answers this question?
01/29/2007
When placing a stop payment on a check, how many days is the hold if the customer only gives a verbal authorization? Is it the same amount of days for ACH items?
10/02/2006
Do you have a list of valid reasons for a stop payment on a check? I know lost, stolen, etc. I have some clients requesting stop payments because they wrote the check but don't have the funds to cover it, and others are requesting stop payments because of a dispute with work. They are trying to avoid the NSF charges of the bank.
03/20/2006
What are the requirements for stop payments on interest checks? Would interest checks fall under the definition of official checks?
11/21/2005
How will customers be able to put a stop payment on a Check 21 check if there is not going to be float?
11/07/2005
I had to put a stop payment on a personal check (on 10/25/2004) I wrote to a merchant (on 10/24/2004) due to the cancellation of the order. However, two days after the stop payment was placed, the bank issued the payment to the merchant (on 10/27/2004). When I inquired with the bank, they said that I placed the stop payment on the check, but the merchant had actually done an ACH withdrawal using the check 21 system and I should have placed a stop pay on the ACH withdrawal. When I called up to put the stop payment order, the representative never mentioned to me that there are two ways of clearing the check and whether I want to stop both. Since I wasn't aware of these methods until now, I just told him the information I had. Now, bank is refusing to even investigate. What are the rules regarding stop pay when the merchant is using check 21 system? What are my options now? Is there a government site that I can refer to? From what I read on the internet, check 21 was not effective until 10/28/2004. Appreciate your help in this matter.
07/04/2005
Are there limitations as to the number of Stop Payments that a bank will allow and can a bank refuse to do a Stop Payment on a check if the bank knows that the account holder just wants to delay payment?
04/04/2005
If a money order is drawn on your bank, can a stop payment be placed for any reason, or is it treated like a bank check where a stop payment can be only placed if the check is lost or stolen? Is there a UCC ruling on this issue?
01/03/2005
Can a business customer stop payment on payroll checks?
12/01/2004
Question: Is it a requirement somewhere that a customer has to sign a stop payment order form?