What exactly does it mean when you put a "stop order' on a check? The bank told me that the stop order lasts for six months. Does that mean the check could be cashed at the end of six months? Is there any way to extend a stop order beyond the six month period?
2007-10-29 12:52:07 · 4 answers · asked by Byakuya 7 in Business & Finance ➔ Other - Business & Finance
Stop orders are only valid for 6 months at a time, and the only way to extend them is to keep "renewing" the order when the current one runs out.
Some checks will have an "invalid after" date, such as "invalid after 180 days," but most personal checks do not carry such a statement on them.
That being said, the only way to absolutely be sure the bank does not honor the check is to close the account before the 6 months is up and open a new one.
Most banks make you hold an account open for 30 days (to be sure all current checks written on the account have cleared). Then they stop honoring checks drawn on that account.
2007-10-29 13:05:15 · answer #1 · answered by jbtascam 5 · 1⤊ 0⤋
Hmmm... It sounds like a stop order would mean putting a hold on cashing a check. It sounds like the check could be cashed at the end of six months. The only way to find out if you can extend it, would be to ask the bank where you got the check . I hope this may help. It is the best to ask the bank all of the above questions so that you may get an accurate answer.
2007-10-30 09:39:37 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Written stop-payment orders are good for six months. The person you wrote the check to can cash the check at the end of this six-month period unless...you call your bank and make an oral stop-payment order, but it will expire after 14 days if you don't visit the bank and put it in writing. A stop-payment order can be renewed for six months more. Making a payment with a check and then changing your mind can be an expensive proposition. Putting a stop-payment order on that check will cost anywhere from $18 to $32 at the 10 largest banks here in the U.S.
2007-10-29 20:00:54 · answer #3 · answered by HoneyBunny 7 · 1⤊ 0⤋
Banks don't generally cash checks over 6 months old anyway, so if the stop order is good for that long, that should cover it. Ask at your bank how long a check would be accepted and not returned as "stale dated".
2007-10-29 20:29:18 · answer #4 · answered by Judy 7 · 1⤊ 0⤋