How Much Is It to Stop Payment on a Check?

A stop payment order is a request made to a financial institution to prevent a check or other payment from being processed. Individuals often need a stop payment when a check is lost, stolen, contains an error, or if a payment dispute arises. This action must be taken before the check clears, as a bank cannot reverse a transaction once it is completed.

Understanding Stop Payment Fees

Financial institutions typically charge a fee for processing a stop payment order. This fee can vary, generally ranging from $20 to $35 per request. The exact amount often depends on the specific bank or credit union, the type of account held, and sometimes even the method used to place the request. Some premium or higher-tiered accounts may offer reduced fees or waive them entirely. These fees are usually charged per item, meaning each check you wish to stop payment on will incur a separate charge.

Gathering Necessary Information

Before contacting your financial institution to place a stop payment, it is important to gather specific details about the check. You will need the exact check number, the precise amount of the check, the date it was issued, and the full name of the payee. Accurate information is essential for the bank to identify and stop the payment.

Initiating a Stop Payment Request

Once all necessary information is collected, you can initiate a stop payment request with your bank through various channels. Many financial institutions offer online banking portals where you can navigate to a “stop payment” feature and input the check details. Alternatively, you can contact customer service by phone, providing the required information after identity verification. Visiting a branch in person is another option, where you may complete a formal stop payment application form.

What Happens After a Stop Payment

After a stop payment request is successfully placed, the financial institution monitors for the specific check to prevent it from clearing. If the check is presented for payment, the bank will typically reject the transaction and return the check to the depositing institution. Stop payment orders for checks generally remain in effect for a set period, often six months, especially if the request is made in writing. Verbal requests may have a shorter duration, sometimes only 14 days, unless followed by a written confirmation. Monitor your account activity to confirm the check has not been paid and to ensure the order remains active if needed.