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How to Stop Payment on a Cheque

If you issue a cheque from your business account and you need to cancel the transaction for any reason, you may want to need to do a stop payment. Your bank may assess a charge for this service, but the process is uniform across different financial institutions.

  1. Gather the cheque number, payee, and amount – the bank needs this information.
  2. Call your bank or look at your online activity to make sure the cheque has not posted.
  3. Ask the bank to issue a stop payment.
  4. Make sure you have ample funds in your account to cover the stop payment fee.
  5. If relevant, notify the recipient of the cheque that you have stopped payment.

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