Stop Payment


Stop Payment
A request made to a financial institution to cancel a check or payment that has not been processed yet. A stop payment order is issued by the account holder, and can only be enacted if the check or payment has not already been processed by the recipient.

Issuing a stop payment order often costs the bank account holder a fee, which is levied by the financial institution. There are several reasons that a stop payment order may be requested. For example, the account holder may have sent a check for the wrong amount, or may have canceled a purchase after having put the check in the mail.


Investment dictionary. . 2012.

Look at other dictionaries:

  • stop payment — n: a depositor s order to a bank to refuse to honor a specified check drawn by him or her Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. stop payment …   Law dictionary

  • stop payment — stop′ pay′ment n. bus an order by the drawer of a check to his or her bank not to pay a specified check • Etymology: 1915–20 …   From formal English to slang

  • stop payment — noun a depositor s order to a bank to refuse payment on a check • Hypernyms: ↑order, ↑purchase order …   Useful english dictionary

  • stop payment — /ˈstɒp peɪmənt / (say stop paymuhnt) noun an order by the drawer of a cheque to a financial institution not to pay a specified cheque …   Australian English dictionary

  • stop payment — noun Date: circa 1919 a depositor s order to a bank to refuse to honor a specified check drawn by him or her …   New Collegiate Dictionary

  • stop payment — an order by the drawer of a check to his or her bank not to pay a specified check. [1915 20] * * * …   Universalium

  • 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. Bloomberg Financial Dictionary …   Financial and business terms

  • stop payment — instruction to not honor a check …   English contemporary dictionary

  • stop payment order — Revocation of a check; a notice made by a depositor to his or her bank directing the bank to refuse payment on a specific check drawn by the depositor. Dictionary from West s Encyclopedia of American Law. 2005. stop payment order …   Law dictionary

  • stop-payment check — check that a bank refrains from honoring …   English contemporary dictionary