Stop Payment Order - On and Off
Answer by John Burnett, BOL Guru Guru Bio
Question: Can we take a stop pay off the system if one day the customer requests us to put it on, and the next day he comes in and asks us to take it off? If yes, do we have a time limit until the stop pay can be cancelled? Do we need to refund the stop pay fees to the customer?
Answer: Your customer certainly has the right to cancel a stop payment order, but it never hurts to make sure he or she intends for the check to be paid. You should be able to lift the order in about the same time it took you to place it in the first place, if that's what you're asking, but just in case you're asking about whether there's a time limit for the customer to life the stop payment, the answer is no. It can be lifted at the any during its effective life. Whether or not you refund the stop order fee is a matter of policy or contract, unless there's a state law provision that would require a rebate or refund.
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