Stop Payment Order


Also found in: Acronyms.

Stop Payment Order

Revocation of a check; a notice made by a depositor to his or her bank directing the bank to refuse payment on a specific check drawn by the depositor.

An individual who writes a check can revoke it unless it has been certified, accepted, or paid. If a bank pays a check after a timely stop payment order by the depositor, the bank is usually liable to the depositor for the amount paid.

References in periodicals archive ?
Until that point, a payor may issue a stop payment order on the check, transfer the funds to another account, or even liquidate the bank account.
Thus, 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," the court said.
The stop payment order was received by your bank, Feb 8, 2016, he told RCBC president and CEO Lorenzo Tan.
To this query, the RCBC chief invoked the Bank Secrecy Law and and declined to reveal specific details about the transaction, but offered an explanation of general procedures pointing to the responsibility of the branch manager to execute the stop payment order.
The new implementation would help the bank provide services such as account inquiry, funds transfers, bill payment, chequebook request and stop payment orders.