May any account owner sign a stop payment order even if that person is not the one who initiated the item?
I was wondering if you could point me in the right direction as to where to find more information on compliance for paper checks? Whenever I place a stop payment on a paper check, there's a disclosure that says "this request will expire in 6 months in order to comply with regulatory requirements." For the customers who ask for a more in-depth answer, what can I tell them?
If a customer requests a stop payment on an ACH debit (on the day of presentment), are we required to honor their request? Or since they've indicated they've revoked authorization, should we ask them to complete the WSUD instead?
Are the stop payment rules different for business accounts than they are for consumer accounts?
Are loan disbursement checks, escrow checks and accounts payable checks "official checks"?
A customer placed a stop pay on a check for $1,600. The bank first processed the deposit as $16.00 so our system didn't stop it and the customer didn't realize it until several weeks later. I have looked everywhere and can't find any case similar to this. Can we return it and if so, for what reason, additional paperwork is needed?
If a customer has a business checking account in which they require two signatures on checks, are we required to get two signatures on stop payments or will one suffice?
Is there a minimum or maximum length of time that a stop payment order for Expense Checks is applicable?
We are the bank of first deposit for a cashier's check returned to us due to a stop payment by the paying bank. It is past the 24 hour window. We need the proper verbiage or a sample template to demand payment, in writing, based on UCC. Do you have a sample?
Does a stop payment on an ACH item end after 6 months?