When you write a check and it’s lost, stolen, or you have some other reason to do so, you call your bank and ask for a “stop payment” on it, usually incurring some kind of fee. Stopping the payment means that no one can ever deposit or cash that check, though, right? No: generally, the order lasts about six months. [More]
When there’s some miscommunication between your bank and your credit card company, you would hope that the two parties could act like professionals and sort it out — especially if they’re both part of the same financial institution. But that’s apparently not the case with Chase.
There’s a funny little thing about putting a “stop payment” order on a check that most banks don’t tell you about until it’s too late: They often only last six months and the only way to guarantee that check never gets deposited is to close the associated checking account. This is a lesson being learned the hard way by a Bank of America customer who saw her account drained of its last few dollars after an old landlord cashed a 16-month-old check.