Sometimes it’s Necessary to Stop Payment. Here’s How.
There are several instances in which you might need to stop payment on a check you wrote from your account or on an electronic item you authorized to be debited from your account. For example, if you lose your checkbook and suspect it might be in the hands of an unauthorized person, or if you want to withhold payment to a company until a dispute is settled. Here is a rundown of CCCU policies on stopping payments.
When You Can Stop Payment
- Before the check has cleared your account. All requests will be posted the same business day they are received (if received before 4PM Monday thru Friday). The stop payment request is not guaranteed if the item has already been presented for payment at the credit union or at a Shared Branch.
- If the check has not been cashed or presented for payment at a Shared Branch location, complete a Stop Payment Form. Stop payment can only be assured after 24 hours.
- If the ACH item has not cleared your checking or savings account, complete an ACH Stop Payment Form. PLEASE NOTE: If we are not provided, or cannot locate, the company ID or financial institution origination information for the disputed item, the stop payment will be placed based on the AMOUNT ONLY. The Credit Union cannot be held liable if the amount provided is inaccurate or is changed by the merchant presenting the debit. PLEASE NOTE: Merchant MUST be advised by you that you have requested a Stop Payment.
When You Can’t Stop Payment
- If the check has already cleared your account. If the check was fraudulently cashed, we can help. Contact our office for the appropriate form.
- If the check was cashed or presented for payment at a Shared Branch location.
- If the ACH item has cleared your checking or savings account, complete an ACH Dispute Form. However, bill pay disputes must be filed from within the Online Banking website. Please call Member Services at 404-676-2586 inside Atlanta, 877-277-2586 outside Atlanta, for assistance with filing this dispute.
VISA® Debit Card Transactions
You may not place a stop payment on a VISA® Debit Card transaction even if it is a recurring debit.
If the transaction was authorized by you using your VISA® Debit Card number, contact the merchant directly to resolve the problem. If the merchant is unresponsive, complete the Merchant Dispute Form.
If the transaction was not authorized by you, report the unauthorized transaction to the credit union immediately by completing a Fraud Dispute Form.
Stop Payment Fee
$30.00 per item, whether checks or ACH payments.