| Dictionary: stop payment |
| 5min Related Video: stop payment |
| Investment Dictionary: Stop Payment |
When a bank account holder instructs his or her financial institution not to honor payment.
Investopedia Says:
Stop payments are issued after a check has been delivered, but before the receiving party has cashed it.
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| Banking Dictionary: Stop Payment |
Order by the writer of a check that payment should not be honored. Stop payment orders directing the drawee to dishonor a specific check may be given by telephone or in writing. Under the Uniform Commercial Code, stop payment orders that have been confirmed in writing by the check writer or maker are valid for six months.
| Idioms: 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.
| Exception Item (in banking) | |
| stop (Idiom) | |
| Stop Payment Order (legal term) |
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Copyrights:
![]() | Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved. Read more | |
![]() | Investment Dictionary. Copyright ©2000, Investopedia.com - Owned and Operated by Investopedia Inc. All rights reserved. Read more | |
![]() | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more | |
![]() | Idioms. The American Heritage® Dictionary of Idioms by Christine Ammer. Copyright © 1997 by The Christine Ammer 1992 Trust. Published by Houghton Mifflin Company. All rights reserved. Read more |
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