How to Cancel a Check
Gather needed information., Verify payment status., Consider the cost., Deal with stolen checks., Deal with an unstopped payment.
Step-by-Step Guide
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Step 1: Gather needed information.
To cancel a check, you must have the legal authority to do so either as an owner of the account or as a legally recognized agent.
You will also need certain information to make a cancellation request with your bank:
You need the name or names of the owners of the account on which the check was written.
This includes all names on a joint or company account.
You will also need your phone number and the address as it appears on the check.
Make sure you write down the account number on which the check was drawn, the check number, and the date written on the check.
You also need to have the amount for which the check was written and the name of the party to whom the check was made payable.
Your bank will also ask you the reason for the stop payment request, so make sure you know why. -
Step 2: Verify payment status.
Check with the bank to see if the check has cleared.
This means that the person you wrote the check to has been paid the amount it was written for.
You can ask the person or company that it was issued to.
You should also verify the status of the check with your bank.
This can be done over the phone or online.
You cannot cancel a check that has already been paid.
The cancellation does not take effect immediately.
It generally happens at the end of the following business day in most cases.
If it has not cleared, no information is needed from the recipient of the check before making a stop payment. , There is usually a charge for the service, regardless of whether payment is actually stopped or not.
This varies from bank to bank.
Depending upon your relationship with the financial institution, fees may not be required or will be forgiven.
If you know there will be a fee, you may not want to place a stop payment because of the extra cost.
If a check is worth less than the amount of the fee, let the payment go through.
If you receive an overdraft fee, it is about the same price as a stop payment fee at most banks.
Be aware that overdraft fees can be incurred again and again if the money is not replaced., There is no fee for placing a stop payment on lost or stolen blank checks.
If your check book is stolen, get a police report right away.
This is especially needed if there was more than one check stolen.
Then take the report to the bank at the branch where you do business.
You may want to consider closing the account and opening another one.
If you want to close your account, the bank will have a manager or a loss-prevention specialist to help you.
They can flag your account for special care.
They can also help you to transition to a new account as necessary. , You may not always be able to put a stop payment on a check.
It also may not always be convenient to do so.
A stop payment cannot be processed if you paid with a cashier’s checks or if the check has already been paid.
It also cannot go through if there was not enough time to process the request.
If you can't cancel the check, try contacting the payee directly.
Request that they do not deposit the check or to arrange for reimbursement in another form. -
Step 3: Consider the cost.
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Step 4: Deal with stolen checks.
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Step 5: Deal with an unstopped payment.
Detailed Guide
To cancel a check, you must have the legal authority to do so either as an owner of the account or as a legally recognized agent.
You will also need certain information to make a cancellation request with your bank:
You need the name or names of the owners of the account on which the check was written.
This includes all names on a joint or company account.
You will also need your phone number and the address as it appears on the check.
Make sure you write down the account number on which the check was drawn, the check number, and the date written on the check.
You also need to have the amount for which the check was written and the name of the party to whom the check was made payable.
Your bank will also ask you the reason for the stop payment request, so make sure you know why.
Check with the bank to see if the check has cleared.
This means that the person you wrote the check to has been paid the amount it was written for.
You can ask the person or company that it was issued to.
You should also verify the status of the check with your bank.
This can be done over the phone or online.
You cannot cancel a check that has already been paid.
The cancellation does not take effect immediately.
It generally happens at the end of the following business day in most cases.
If it has not cleared, no information is needed from the recipient of the check before making a stop payment. , There is usually a charge for the service, regardless of whether payment is actually stopped or not.
This varies from bank to bank.
Depending upon your relationship with the financial institution, fees may not be required or will be forgiven.
If you know there will be a fee, you may not want to place a stop payment because of the extra cost.
If a check is worth less than the amount of the fee, let the payment go through.
If you receive an overdraft fee, it is about the same price as a stop payment fee at most banks.
Be aware that overdraft fees can be incurred again and again if the money is not replaced., There is no fee for placing a stop payment on lost or stolen blank checks.
If your check book is stolen, get a police report right away.
This is especially needed if there was more than one check stolen.
Then take the report to the bank at the branch where you do business.
You may want to consider closing the account and opening another one.
If you want to close your account, the bank will have a manager or a loss-prevention specialist to help you.
They can flag your account for special care.
They can also help you to transition to a new account as necessary. , You may not always be able to put a stop payment on a check.
It also may not always be convenient to do so.
A stop payment cannot be processed if you paid with a cashier’s checks or if the check has already been paid.
It also cannot go through if there was not enough time to process the request.
If you can't cancel the check, try contacting the payee directly.
Request that they do not deposit the check or to arrange for reimbursement in another form.
About the Author
John Harris
John Harris has dedicated 11 years to mastering lifestyle and practical guides. As a content creator, John focuses on providing actionable tips and step-by-step guides.
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