What is Stop Payment Order?
Stop Payment Order A formal, legal instruction from an account holder to their financial institution to halt payment on a specific check or transaction before it is processed.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Stop Payment Order” Used in Practice?
A stop payment order must be received by the bank before the item clears and is subject to fees under the account agreement.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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Download Free for iOSFrequently Asked Questions
What is Stop Payment Order?
A formal, legal instruction from an account holder to their financial institution to halt payment on a specific check or transaction before it is processed.
Where can I learn this term for free?
Termify is a 100% free professional English app that teaches Stop Payment Order and 4,071+ other industry terms with native pronunciation, IPA transcriptions and career quizzes. Available on iOS in 23 languages. No subscription, no credit card required.
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