A request to stop payment of cheque for an amount mentioned in a cheque that is not yet cleared by the concerned financial institution is done from accountholder’s side. A written notice or application to the concerned financial institution is sufficient to stop the payment. The request placed by an account holder is entertained immediately in every bank.
The need to stop any payment through cheque arises due to three main reasons:
- If the account holder has an insufficient amount in his/her bank account to get the cheque debited from the account.
- If the cheque is lost or misplaced, or
- The cheque bears any written mistake
Banks instruct following modes of requesting for stop payment of cheque and contact such an issue:
- The account holder can place an online request to the bank
- The account holder can make a call to the customer service helpline number
- The account holder can visit personally to the branch office and give a written request
Online Service to Stop Payment of Cheque
Account holders in every bank are provided with online services to submit their complaints and requests. They can follow the steps mentioned below:
- The account holder must have Internet Banking Services activated with his/her account.
- He has to log in on the bank’s portal and select the desired option provided and submit the request.
- Most of the banks provide Internet Applications that a customer can download, install and use the banking services.
Stop Payment of Cheque through Customer Service Helpline Numbers:
All banks provide helpline numbers for a customer’s ease. Here’s what to do:
- The account holder can make a call and register a request to stop payment of the cheque.
- The customer service executive would guide the caller to process involved or register the request.
- The executive would ask for account holder’s bank account details such as account number, Name, Date of Birth, etc.
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Stop Payment of Cheque by Visiting the Bank (Offline Process):
The account holder can visit his/her bank branch office. After submitting a written request to the related person assigned for, the payment is stopped for the particular cheque/cheques.
The request from the account holder should mention the following details of the cheque to:
- Date of issuing the cheque
- Bearer’s name
- Cheque number
- Amount entered to be debited through cheque, and
- Account holder’s details
Once the bank receives a stop payment request, it ceases to have authority to honour the particular cheque.
The process involves some charges on the account holder as well. Every bank has its own set of charges’ slab for stop payment of cheque depending upon the amount that the cheque bears.