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#240537 - 09/02/04 02:21 PM Stop Payment or NSF
Anonymous
Unregistered

If a check being returned has created an NSF and has a stop payment order placed on it, which reason should be used to return the check?

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Operations Compliance
#240538 - 09/02/04 02:26 PM Re: Stop Payment or NSF
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,580
Pulling people out of the ditc...
If the customer has placed a stop payment on the check, that is the reason I would use.
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#240539 - 09/02/04 02:38 PM Re: Stop Payment or NSF
Mike Baker Offline
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Mike Baker
Joined: Dec 2002
Posts: 192
Tennessee
That would make sense to me. I would not want the holder of the check that I had stopped to receive a notice that my check was returned NSF and therefore create a false impression that I knowingly or otherwise attempted to pass an NSF item. The fact that the account went NSF when the item posted [and I am assuming that the system is set up for all items to post at night, with returns to be credited the next day...OK for NSF's, and maybe even for stop payment SUSPECTS, but questionable in my opinion for actual stop payments] is not relevant...likely, knowing that the item was stopped, I assumed, as I should be able to, that the funds were available for other debits that I authorized.
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#240540 - 09/02/04 02:38 PM Re: Stop Payment or NSF
Anonymous
Unregistered

Thanks, that's what I thought, too. Apparently some people around here have been told previously that a check should always be returned first and foremost as NSF above any other reason.

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#240541 - 09/02/04 02:55 PM Re: Stop Payment or NSF
Anonymous
Unregistered

Thanks for your reply, also.

I would like to expand on this question. What if a check is NSF and the endorsement is missing. Can you mark both reasons?

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#240542 - 09/02/04 04:50 PM Re: Stop Payment or NSF
SJB Offline
Diamond Poster
SJB
Joined: Jun 2002
Posts: 1,210
California
It is not properly payable so it could/should not make the account overdrawn therefore no NSF.
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#240543 - 09/02/04 05:04 PM Re: Stop Payment or NSF
Paragon Offline
Diamond Poster
Paragon
Joined: Dec 2003
Posts: 2,164
A check with a stop would also be returned as a stop - regardless of any other conditions. The NSF scenario may have been created by the check, but the check is not a valid order as there is a stop, so there really isn't an NSF situation.

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#240544 - 09/02/04 08:06 PM Re: Stop Payment or NSF
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,580
Pulling people out of the ditc...
Quote:

I would like to expand on this question. What if a check is NSF and the endorsement is missing. Can you mark both reasons




I agree with SJB. I can think of no instances where you would mark omre than one return reason ona check. If it is NSF, that is what you would use. If the account is closed, that is what you woul duse. You would not combine the 2.
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