2016-12-30 00:00:00 Finance and Accounting English Learn how to do a stop payment on a business cheque. Review the steps involved in canceling a cheque you have written. https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/03/08214511/A-Small-Business-Owner-Calling-Her-Bank-To-Stop-Payment-On-A-Cheque.jpg How to Stop Payment on a Cheque

How to Stop Payment on a Cheque

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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.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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