Banking, Stop Payment VRU? What VRU stands for?

Question

i'm reviewing my notes and have totally no idea what is VRU? does anyone knows what that is and why would someone want to place stop payment on VRU? Any examples, please? THX

Answer 1

VRU stands for Voice Response Unit...bascially what this is is a computer that you can either talk in to or push buttons to get your questions answered without having to sit and wait to talk to a representative. Most companies have this now. As far as stopping a payment on a check, it's just another way of requesting that to be done instead of talking to someone =). Example: You have to call your bank to put a stop payment on a check or even report your card lost/stolen, it's going to walk you through menu options and to say or push, once you've submitted your request through, then it's complete. It won't leave you hanging either, it'll tell you "your request has been processed" or "your requested is complete". This way you know.

Answer 2

NO! By cancelling an account you are agreeing that to the best of your knowledge all pre arranged debits and credits have been cancelled. The bank takes your word for this and removes the money from the account and you move on with it (if you open another account, change banks, or keep it under you mattress). However, should a credit/debit hit your account you are responsible for handling it. If your account is at zero and a debit comes through, then you are overdrawn. If I were you I would let the bank know of the situation. That way after you prove yourself right, the bank will understand and refund your NSF Fees. I work at a bank and have situations such as this all the time.

Answer 3

What Is A Vru