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Reasons People Stop Payment on Checks

Posted by Joe Gargiulo on Tue, Sep 18, 2018 @ 07:44 AM

Buena Vista Auto Works repairs a customer's vehicle, accepts a check payment for the services, and sends the happy motorist on his way. All is well until the next morning when the driver discovers that he wrote the check for $4,000 instead of $400, the correct amount.

In this instance, most people would simply ask the shop to destroy the original check and write an amended check for $400.

Unfortunately, the customer decides to initiate a stop payment on the $4,000 check at his bank instead of contacting the shop for resolution. The bank charges him a $35 stop-payment fee and the shop now possesses a check with no apparent value. What recourse does the shop have?

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Tags: Stop Payment

Increase Sales by Solving the ‘Who Done It’ of Stop Payments

Posted by Joe Gargiulo on Thu, Jun 16, 2016 @ 04:00 PM

Americans love heist movies and the media loves to write about them. Conduct an online search, and one will find over 25 pages of links to all-time lists from a diverse group of orgs including, Hollywood Reporter or The Wall Street Journal where the irony of a conservative financial publication covering films about corporate espionage does not get lost on even the most casual observer.

On February 4, 2016, a cyber-heist of galactic proportions struck the international banking system, and there is every reason to believe a Hollywood interpretation will appear on the big screen as soon as the legal dust settles.

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Tags: Stop Payment

The Best Way to Handle the “Stop Payment” Risk

Posted by Kevin Walli on Wed, Oct 29, 2014 @ 10:00 AM

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Tags: Check Processing, Stop Payment, Check Guarantee, Kevin Walli

Top Veterinarian Payment Options when Your Patient Expires

Posted by Tom Lombardo on Tue, Jul 15, 2014 @ 10:00 AM

Veterinarians: When your customer's patient unexpectedly expires and payment by check is stopped, what do you do? Read this blog article to learn more ...

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Tags: Stop Payment, Veterinarians, VET-RDC, Tom Lombardo

3 Businesses Flourishing with Stop Payment Protection

Posted by Brandon Weaver on Thu, Jun 07, 2012 @ 10:00 AM

As much as companies wish to provide a great product or service all the time; payment disputes still occur sometimes. These can be due to customer and merchant disagreements over work quality, an overall bad experience or a misunderstanding by one or the other party. In any case, these are almost always uncomfortable situations and unpleasant for the merchant to settle. Even so, when they happen, having a stop payment service in place gives businesses protection and reimbursement should the customer halt the payment for services rendered.

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Tags: Stop Payment, Veterinarians, Check Guarantee, Building Materials, Auto Repair, Auto Aftermarket, Brandon Weaver

Check Processing Services Stimulate Auto Aftermarket Sales

Posted by Brandon Weaver on Fri, May 25, 2012 @ 11:00 AM

The automotive industry is the backbone of the United States economy. Although some people may think of this business sector as simply automotive manufacturing, the auto aftermarket is not, and should not be considered an afterthought. The auto aftermarket includes dealer service departments, repair shops, oil stop locations and many others. With that, check processing services stimulate sales, reduce merchant's risk and help keep the automotive aftermarket growing.

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Tags: Stop Payment, Multiple Check, Auto Repair, Auto Aftermarket, Hold Check, Brandon Weaver, Funeral Homes

Bad Checks Can Burn a Hole in Your Profits

Posted by Kris Coughtry on Thu, May 24, 2012 @ 09:30 AM

Not sure if you need a check guarantee service? Consider this... a $1,000 bad check can mean you'll need an additional $10,000 in sales to make up the impact to your net profit if you operate at a 10% margin. Maybe you have a 8% profit margin and have a check loss of $10,000 - that means you'll need a whopping $125,000 in sales to make up the lost amount!

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Tags: Check on Delivery, Stop Payment, COD, Check Guarantee

3 Check Payment Solutions to Maximize Home Furnishings Revenue

Posted by Brandon Weaver on Fri, May 18, 2012 @ 10:00 AM

Home furnishing businesses have rebounded very well the past few years. Part of this recovery effort can be attributed to them continuing to accept check payments, which appeal to a wide variety of customers. Check payment solutions encourage check payments, which remain a convenient option for customers. Meanwhile, check services increase merchant’s sales and reduce risk. In the end these services help the industry grow, open new stores and hire more employees.

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Tags: Check on Delivery, Stop Payment, Home Furnishings, NAHFA, COD, Check Guarantee, Brandon Weaver

Check Services Increase Building Materials Sales

Posted by Brandon Weaver on Thu, May 10, 2012 @ 10:00 AM

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Tags: Stop Payment, NAHFA, Check Guarantee, Multiple Check, Building Materials, Hold Check, Brandon Weaver

Check Guarantee Services for Veterinarians

Posted by Kris Coughtry on Thu, Apr 05, 2012 @ 10:00 AM

Pet owners and veterinarians know that pet care goes way beyond supplying a good diet, plenty of exercise and some quality play time. We all know, pets are family members. So, trips to the vet for regular check-ups, along with treatment for unexpected illnesses, are just as important. Often, though, pet owners are not prepared for the cost of these visits, particularly those that seem catastrophic. Veterinarians using a check guarantee service can offer payment options to their pet owners, easing the strain of unexpected costs and helping to take the bite out of big bills.
According to a poll conducted last year, pet owners spent more than $1000 on average for pets with a serious illness. About one in six pet owners said their pet faced a serious illness during the year, according to the poll. Vets using a check guarantee Multiple Check program can offer payment options to their pet owners, giving them extra time to gather funds. This provides convenience for the pet owner and guaranteed funds for the veterinary office. With a check service in place, checks are guaranteed up to the warranty limit. Additional programs including Stop Payment and Partial Payment are also recommended for veterinarian offices.

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Tags: Stop Payment, Veterinarians, Check Guarantee, Multiple Check, Hold Check

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