What is Stop Payment?
Stop Payment An instruction by an account holder to a bank to refuse payment on a specific check or transaction before it has been processed, subject to banking terms and fees.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Stop Payment” Used in Practice?
A stop payment request must be submitted to the bank before the check clears, and fees may apply under account terms.
Certification Exam Relevance
Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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Download Free for iOSFrequently Asked Questions
What is Stop Payment?
An instruction by an account holder to a bank to refuse payment on a specific check or transaction before it has been processed, subject to banking terms and fees.
Where can I learn this term for free?
Termify is a 100% free professional English app that teaches Stop Payment 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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