Quote:
Originally Posted by midiwiz
actually that's incorrect. you don't have to stop payment before he's endorsed it - case in point he deposits the money in his account - you can still stop payment up to 90 days from the date of writing the check. In my case it was stopped within 48 hours.
In either case there are time limits as another poster pointed out the stop is 'gone' after 180 days which is correct.
However I didn't post this for couseling on stop payments, collecting the money or anything it was to report a bad contractor that shouldn't be used.
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My bank has no 90 day rule. If he deposited the money into his account, he had to endorse it, so the funds could be transferred from your account into his account. This is the same as cashing the check.
"When Can You Stop Payment On A Check?
Generally speaking, stopping payment on a check is possible at any time prior to the check being cashed. Once the check has been cashed by its recipient, the person who wrote or authorized the check will not be able to make a stop payment with their bank."
I was just clarifying the rules for stopping payment on a check, made by another poster.