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#2004481 - 03/26/15 09:36 PM File a SAR for multiple stop payments?
MLR Offline
New Poster
Joined: Jan 2015
Posts: 8
We have a customer that frequents the casino regularly. She's been writing checks to the casino in amounts ranging from $300-$800 then calls the next day to place a stop payment on the check(5 stops in March alone) When asked for a reason for stop payment it is not for purpose of other arrangements, but because she has other bills to pay, etc. She told us she owes money to the casino and these are her payments.

We are teetering on the idea to file a SAR but cannot find any guidance or ideas on what the reason for filing would be.

Has anyone come across a similar situation, and if so, what did you do?

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#2004489 - 03/26/15 10:28 PM Re: File a SAR for multiple stop payments? MLR
Doug Hendrickson Offline
Power Poster
Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
I would forget the SAR; just close the account, it's more trouble than it's probably worth.
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#2004491 - 03/26/15 10:43 PM Re: File a SAR for multiple stop payments? MLR
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 77,548
Galveston, TX
A customer does not have to provide the bank a reason for a stop payment order. It is their god given right (well, right through the UCC anyway).

I agree with Doug, just close the account.
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