stop payment


Also found in: Dictionary, Thesaurus, Legal, Financial, Wikipedia.
Related to stop payment: Stop Payment Order

stop payment

To prevent a bank check or wire transfer from being honored or processed and having the funds leave an account. The bank stopped payment when they suspected that the signature on the check had been forged. Unfortunately, as the direct debit has already been issued for this month, you'll have to call the bank to stop payment.
See also: payment, stop

stop payment

Instruct a bank not to honor a check one has drawn, as in If that check was lost, we'll have to stop payment on it before issuing another. This usage was first recorded in 1722.
See also: payment, stop
References in periodicals archive ?
Would you care to explain why the stop payment request - which should have been honored at the very start of the banking day - was not honored?
A] payor of a check may issue a stop payment order after the check has been written in an attempt to prevent the check from being paid and the funds from being transferred to the payee," Pariente wrote.
In addition, you might also ask the employee whether he was charged any fees from the bank for the stop payment, and offer to reimburse him.
Alternatively, AME argued that any stop payment duty applied only to banks and thus was not applicable to AME as a nonbank garnishee.
Although Medicare officials state that they are taking steps to more carefully track beneficiary deaths and stop payments, approximately $1.