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Finance & Banking vocabulary · Payments & Cards

Stop payment

Meaning in finance & banking, with examples

nounCommon term

In finance & banking, stop payment means: An instruction asking a bank not to pay a specified cheque or other eligible payment.

In Turkish: ödemeyi durdurma talimatı

How it is used

Use as a noun phrase, or say place a stop-payment order; eligibility and timing vary.

Example sentences

  1. The customer requested a stop payment after losing the signed cheque.

    The request identifies a payment that should not be honoured.

  2. The bank explained that the stop payment arrived after the cheque had cleared.

    A request's effect depends partly on its timing.

Common collocations

  • place a stop-payment order
  • stop-payment request
  • chequeA printed paper order that tells a bank to pay a stated amount from the writer's account to the person or company named on it.
  • bounceOf a cheque or payment: to be returned unpaid by the bank, usually because there is not enough money in the payer's account.

More terms: Payments & Cards

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This page explains English vocabulary for learners. It is not financial advice.