Skip to content
BOL Conferences
Thread Options
#1804602 - 04/15/13 03:36 PM Online Stop Payment Signatures
dac1 Offline
Junior Member
Joined: Oct 2009
Posts: 38
Our online banking includes the ability to submit a Stop Payment. The message when the customer submits informs the customer that it will only be binding for 14 days unless confirmed in writing. Is this a requirement, or does the fact that the customer has gone through multiple layers of authentication in order to submit the Stop Payment eliminate the requirement for a follow up signature?

Return to Top
eBanking / Technology
#1804616 - 04/15/13 03:53 PM Re: Online Stop Payment Signatures dac1
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
It should be addressed in your on-line banking contract. That section of the UCC can be modified by written agreement.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1804857 - 04/15/13 09:24 PM Re: Online Stop Payment Signatures dac1
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
http://www.law.cornell.edu/ucc/4/4-403.html

Many banks will proceed with the oral. If you do require the written notice, E-SIGN compliance, UETA compliance, or a separate agreement that online notification will suffice are all possible, as Randy noted, in your agreement with the customer. The UCC allows for certain modifications.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top

Moderator:  Andy_Z