Stop Payment Clause Samples
A Stop Payment clause allows an account holder to instruct their bank to prevent the payment of a specific check or transaction before it is processed. Typically, the account holder must provide details such as the check number, amount, and payee, and may be required to submit the request in writing or through the bank’s online system. This clause serves to protect the account holder from unauthorized, erroneous, or fraudulent payments, giving them a mechanism to halt transactions that should not be completed.
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Stop Payment. Any instruction to stop payment of an Instrument drawn on the Account must be in writing and signed by one or more Authorized Signatories and/or Authorized Users, in accordance with the signing authority on the Account. On receiving a stop payment instruction of an Instrument drawn on the Account, the Financial Institution will:
a) use reasonable diligence to comply with the stop payment, but
b) not be liable to the Depositor or any other person by reason of complying with, or failing to comply with, the stop payment, whether the Financial Institution is negligent, wilfully negligent, or otherwise.
Stop Payment. You may stop payment of items drawn on your accounts. You agree to hold us harmless from any claim, loss, damage, or expense that we may incur, including attorney’s fees, resulting from our refusing payment of any item on which you have stopped payment or from the payment of any item after your stop payment order has expired. A stop payment order will be effective for six months and may be renewed upon a request made in writing to us. A stop payment order, a renewal of an order, or a revocation of any such order shall not be effective unless delivered to us in writing to a member of our staff during our regular business hours and until we have had a reasonable opportunity to act on it. In addition, we will not be liable for the payment of an item over a stop payment order if the order is received after 10:00 am on the next banking day after the banking day on which we received the item. Due to computer system limitations, we can intercept an item subject to a stop payment order only if the precise amount, date, check number, name of payee, and any other information that we may reasonably require is provided. If that information is not provided, we will not be responsible if we are unable to stop payment if the order is made orally, we have no obligation to honor it. If we do honor an oral stop payment order, it will only be binding for 24 hours, after which it must be renewed in writing. Any stop payment order, renewal, or revocation will incur a charge as set forth in the Fee Schedule. You agree that we may honor a stop payment order, revocation, or renewal if made by the person who signed the check to be stopped or any other person who has signed the Application or is otherwise authorized to transact business relating to the account. You agree that we will not be liable for any inadvertent payment of any item, notwithstanding a stop payment order, if we have used ordinary care and followed our usual practices in handling such an order. If an item is paid over a valid stop payment order due to our failure to exercise ordinary care, we may be liable to you for any loss you suffer as a result of that inadvertent payment. You agree, however, that it will be your responsibility to establish any such loss. You agree that we will never be liable for more than your actual loss and that we will not be liable for any consequential damages. If we do credit your account after paying an item over a valid stop payment order, you agree to take whatever action we deem n...
Stop Payment. Unless otherwise provided in any agreement or disclosure you receive when you arrange for a Service, you acknowledge and agree that you may not stop payment of any transaction initiated through use of the Card or a PIN.
Stop Payment. You may request us to place a stop-payment order on a preauthorized electronic funds transfer by notifying us at least three business days before the scheduled date of the transfer. You may: ▇▇▇-▇▇▇-▇▇▇▇ or Toll-free at ▇▇▇-▇▇▇-▇▇▇▇ Monday-Friday, 7 a.m.-7 p.m. Pacific Time Saturday, 9 a.m.-1 p.m. Pacific Time
Stop Payment. If you want us to stop payment on an Access Device, notify us by calling Customer Service immediately at ▇-▇▇▇-▇▇▇-▇▇▇▇. Call us with your stop payment request as soon as possible after you have submitted the Access Device and give us information about the Access Device to help us identify it. If you ask us to stop payment, we will make reasonable efforts not to pay that Access Device. However, if we pay that Access Device despite these efforts, we will not be liable to you for paying that Access Device. We may not be able to stop payment if you call us after we have started processing the Access Device. A Stop Payment Fee may apply.
Stop Payment. If you wish to stop payment of any electronic represented Check, you must follow the procedures contained in the section for stopping payment of Checks.
Stop Payment. You may use Online Banking to initiate an electronic stop payment requests in accordance with the Stop Payment instructions outlined above.
Stop Payment. If before a Balance Transfer or Convenience Check drawn on your Account has been honored, you notify us not to pay it, we will stop payment on the check. You must send us a written and signed stop payment order which states the number, payee, amount, and date of the check on which payment is to be stopped. We may disregard any such order six months after our receipt unless you renew your request.
Stop Payment. Provided such notice is timely so that the Credit Union shall have reasonable opportunity to act upon it under its rules, you may order stop payment on a check drawn on the account, other than one that has been guaranteed. In the event of an oral stop payment order, the order shall be valid for only fourteen (14) days thereafter, unless confirmed in writing. Written stop payment orders will remain in effect for only six (6) months, unless renewed in writing. You have the burden of establishing the fact and amount of any loss resulting from payment contrary to a binding stop payment order. The Credit Union will charge a fee per Check when a stop payment is placed on a Check(s), which will be billed to your Account.
Stop Payment. If you want us to stop payment on an Access Device, notify Customer Service immediately at P.O. Box 84037, Columbus, GA 31908-4037, by first class mail, postage prepaid, or call us at ▇-▇▇▇-▇▇▇-▇▇▇▇. If you call, you must confirm your request in writing within 14 days. A written stop payment request will remain in effect for six months unless renewed in writing. Call or write us with your stop payment request as soon as possible after you have submitted the Access Device and give us information about the Access Device to help us identify it. If you ask us to stop payment, we will make reasonable efforts not to pay that Access Device. However, if we pay that Access Device despite these efforts, we will not be liable to you for paying that Access Device. We may not be able to stop payment if you call or write us after we have started processing the Access Device. A Stop Payment Fee may apply.