What is Stop Payment

Stop payment is a term which is used in the context of banking, stop payment occurs when the account holder of the bank give instructions to his or her bank to stop honoring the obligation of the account holder. Stop payment can be done only before the cheque is presented for payment by the person holding the cheque. Banks usually levy service charges for providing this facility to the client of the bank.

0 comments… add one

Leave a Comment


Related pages


types of dividend policy theorydirect quotation currencyexamples of monopolistic competition marketswhat is market skimming pricingconcept of materialitypayment received in advance journal entryunearned service revenue still unearned journal entryadvantages of merger and acquisitionhorizontal analysis of financial statementscalculation of net worth of companydiversifiable risk and nondiversifiable riskfdi advantages and disadvantagesgolden rules of accounting with journal entriesfmcg full formjob costing process costingproduct bundle pricing definitionsimilarities between public finance and private financefluctuating exchange ratestypes of factoringtypes of leverage in financial managementunearned revenue t accountlong form of tdsdefine dupont analysismarket segmentation advantagespure competition market examplestraditional economy definition and exampleswhat is the full form of cpilocal bill discountingpush inflationjournal entry for unearned revenuejournal entry for prepaid rent receivedexplain privatisationadvantages and disadvantages of sales promotionadvantages of merger and acquisitionbackward integration advantages and disadvantagesexamples of vertical mergerdecentralization advantagesfull form kpmgadvantages of promotional pricingcapitalist socialist and mixed economyeffects of advertising in monopolistic competitionadvantages and disadvantages of market penetration strategylimitation of payback perioddefine materiality in accountingadvantages of socialist economic systemcost push inflation definition economicsdupont roe analysisexplain market skimming and market penetration pricing strategiesdisadvantages of autocratic leadershipswot analysis disadvantageswhat are some of the advantages of a mixed economywhat is consignee and consignorfdi and fii definitiondisadvantages of process costingindirect expenses definition accountingvertical and horizontal mergerspayment received in advance journal entrywhat is convention of materialityoverdraft and cash credithorizontal integration disadvantagesglobalisation benefits and disadvantagesdupont chart analysisbenefits of oligopolythe difference between socialism and capitalismbarter system economymonopolistic competitionswhat is a conglomerate mergerfull form of imps in bankingdisadvantages of sales promotiondupont system of financial analysisunitary elastic demand graph