Skip to content

Stop Payment Requests by Email

Answered by: 

I am chairman of our Compliance Committee and a question was raised by our deposit area. Our deposit area accepts stop payment requests via e-mail and through our PC Banking package. Their question is whether this constitutes a signature within the 14 days established by UCC 4-403 or is it a verbal arrangement that requires a signature. My response was that a signature would still be required within the 14 days on any stop payment accepted by these methods. Would you concur?

To be actually valid a signature would be required (at least according to the Texas Business and Commerce Code. Your State may vary). E-sign would allow a digital signature to be accepted in one or more medias if you and the customer have agreed to this in the past. And while a signature may be required, your policy can be less stringent.

First published on 2/5/01

First published on 02/05/2001

Filed under: 
Filed under compliance as: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics