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Stop Payment (Noun)

Meaning

A depositor's order to a bank to refuse payment on a check.

Classification

Nouns denoting communicative processes and contents.

Examples

  • The depositor placed a stop payment on the check to prevent the transaction from going through.
  • Upon realizing the error in the amount, the customer requested a stop payment on the erroneous check.
  • The bank requires written confirmation of a stop payment request from the account holder.
  • After reporting her wallet stolen, Sarah called her bank to put a stop payment on any outstanding checks.
  • If a check is lost or stolen, a depositor may instruct the bank to stop payment on that check.

Hypernyms

  • Purchase Order
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