Posted By: slrmm530
Stop payment - 12/08/10 06:37 PM
We accept verbal stop payments on share drafts. We then mail out a form for the member to sign and return. We have on the form that the stop may be removed if the sign form is not returned in 14 days. But we do not track them so the stops will stand on for 6 months regardless of if we have a signautre. Is this ok? As a side note we do allow the member to put a stop on through our homebanking and telephone system with out signatures.
Thanks
Thanks