Is voiding a check the same as placing a stop payment?

Answer 1

No you can viod a check if you have it in your possession. it is essentially destroying the check. A stop payment is when the check is no longer in your possession and you don't want the bank to honor it. You call the bank and let them know the number and they will not honor it.

One of the other differences is that voiding a check is free and the bank charges for a stop payment.

Stop payment is good if you don't know what happened to the check or if you sent it to someone and they never recieved it. It is a method to keep a lost check from being cashed by someone you don't want to cash the check

Answer 2

No - a stop payment usually occurs after the check has been delivered to a recipient and then the account holder decides to stop the payment (for example, if the recipient lost the check, the check was mailed and never arrived, or the account holder had a dispute with the recipient and decided to withhold payment.)

Voiding a check simply means that the instrument is no longer valid. You can write "void" on a blank check and use that check to set up a direct deposit or debit to/from your account, or void out a check on which you made a mistake (written to the wrong payee, for example.) A check is typically voided before it is presented to the recipient.

Answer 3

They are different.

"Voiding" a check could mean writing "VOID" across its face, rendering it useless. Or it could mean shredding the check. In either instance, the check cannot be used once it is "voided."

One common use of "void" these days is converting a paper check to an ACH. The check is scanned into an ACH device and sent to the bank for payment. The actual check is stamped "VOID" and handed back to the customer as evidence of the payment and to make certain that the check cannot be used again.

Stop Payment: This is different and there are laws pertaining to your rights and those of the bank contained in Uniform Commercial Code Article 4, as adoped by different states.

§ 4-403. CUSTOMER'S RIGHT TO STOP PAYMENT; BURDEN OF PROOF OF LOSS.

* (a) A customer or any person authorized to draw on the account if there is more than one person may stop payment of any item drawn on the customer's account or close the account by an order to the bank describing the item or account with reasonable certainty received at a time and in a manner that affords the bank a reasonable opportunity to act on it before any action by the bank with respect to the item described in Section 4-303. If the signature of more than one person is required to draw on an account, any of these persons may stop payment or close the account.
* (b) A stop-payment order is effective for six months, but it lapses after 14 calendar days if the original order was oral and was not confirmed in writing within that period. A stop-payment order may be renewed for additional six-month periods by a writing given to the bank within a period during which the stop-payment order is effective.
* (c) The burden of establishing the fact and amount of loss resulting from the payment of an item contrary to a stop-payment order or order to close an account is on the customer. The loss from payment of an item contrary to a stop-payment order may include damages for dishonor of subsequent items under Section 4-402.

Answer 4

No. To Void a check you just write "void" across it. To stop payment, you contact your bank and tell them not to honor a check that you've already written but hasn't cleared yet - usually they'll charge a fee for this.

Answer 5

No it isn't the same. Voiding a check means you haven't sent the check to the person you want to give money to. Where stop payment is that person already has your check and you want to stop him/her from using it to get your money.

Answer 6

And the fee for stop payment is steep -- $20 to $40 per check for personal, and more for business

Answer 7

Yes I agree with what's been said so far

Answer 8

I was wondering the same thing myself yesterday