09/29/2003
I am concerned that we are not following the UCC regarding oral stop payments. We send a letter 14 days after the 14day expiration time and then again 7 days after that. So, we have a stop payment on the books unsigned for approximately 35 days. If we do not get a response we will delete the stop payment. Is this considered to be acceptable?
09/22/2003
Can we refuse to accept stop payments over the phone?
02/10/2003
It we increase our fees on stop payments, dormant accounts, and add a daily overdraft fee, do we need to send our existing customers advance notification of the fee increases?
12/02/2002
Is there any guidance as to when it is appropriate to put stop payments on official bank checks? We've had a couple of instances where customers have purchased cashier's checks, the checks eventually get lost in the mail, and then the customer wants us to readvance the funds without putting a stop payment on the original cashier's check. We've always told the customer that in order to readvance the funds they would first need to put a stop payment on the 1st check or wait until the 90 days has expired. We also have the customer sign an indemnification agreement.
04/01/2002
If you do a stop payment, do you need a signed authorization and if so, where is this regulation/statute?
12/03/2001
If a bank chooses, can we place stop payments for more than 6 months?
10/01/2001
Can a person stop payment because the check will cause them to be overdrawn?
09/10/2001
08/06/2001
We have a message posted on our Web site that tells customers not to submit emails that contain sensitive or confidential information and that tells them not to use email for specific transaction-related requests. Our system gives us the capability of doing auto-responders to any email submitted. We have drafted an auto-responder that thanks the sender for their message, acknowledges that it was received, but basically reiterates our policy about how they shouldn't be sending confidential or sensitive information or anything about a specific transaction or account. It has been suggested that we might want to add something to it to say something like "We will not act upon email requests for funds transfers, stop payments, account closings, or fraud notifications. These must be done either in person, or by calling such and such number." I'd like to know whether you think this is a good approach or whether there's a better way to handle this. We almost considered not even posting an email address on our site at all to just stop the email.