What is the stop?

Payment stop is a request that a bank account holder can submit to the bank about how to handle a specific check, whether to get into the bank. This application is usually provided to the bank after the person has written a check and delivered it to someone else, and the reasons to ask the bank to pay a check may vary. Most often someone asks to stop the payment if the check is lost. There are good reasons to use this service, but also some costs should be aware of if they use it.

A lost check may be a problem - he could pick her up and reimburse someone who has no right to make money. The bank account owner has checks stolen from a car or handbag that contains signed checks of someone else. Obviously, ensuring that no one has the right to take illegally from a personal account is a good idea. In some cases, people have stopped paying for a check when they feel they were cheated in some way and wouldn't feel like they could solve it with an individual, toThey wrote a check.

In other circumstances, people who know that the check will change the account on it will place a payment on it. This measure is not always wise because a paid person or company may report a check according to the reflected, especially for the inspection/creditors' agency. People can usually only clean this by paying a check in full and possibly some fees, or they can find that they can no longer write checks in any company or in the store that uses checking programs.

Although there are some strong reasons to consider the stopping of payment, most banks do not offer this service free of charge. They can offer some help if the entire check book book is stolen, or they can change the account number so someone with stolen checks can not use them, but generally for a single check will have a fee. Charges may vary, to make sure exactly what they are, makes good economic sense because they canbe up to $ 50 (USD) or more.

Sometimes it makes no sense to stop the payment for a check for a very small amount. For example, it could be more expensive to stop a $ 10 check payment than it is simply to pay a check to be frightened. On the other hand, it would be much more sensible to stop the payment for the check for a very high amount. It is worth losing $ 20-50 instead of $ 100 or $ 1000.