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How Can Merchants Prevent Loss from Stop Payment Orders?

Posted by Brandes Elitch on Wed, Jul 03, 2019 @ 10:45 AM

If you are a merchant, there cannot be too many things that are more aggravating than getting a notice from your bank that you are not going to get paid because a customer put a stop payment on a check written to you.

Your first reaction would probably be surprise, then disappointment, and then anger. “How could they do this to me? … I gave them a good product at a good price and I provided good customer service too.”

As detailed below, there are legitimate reasons for requesting stop payments. On the other hand, writing a check and then stopping payment to avoid getting charged can be considered check fraud, which is a crime actionable at law. Before we get into all that, let’s look at how a merchant-customer relationship is supposed to work.

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Tags: Brandes Elitch, Stop Payment Protection

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 Protection

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 imdb.com, 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 Protection

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: Veterinarians, Building Materials, Auto Repair, Stop Payment Protection