STOP PAYMENT REQUESTS SOP

STOP PAYMENT REQUESTS SOP

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STOP PAYMENT REQUESTS SOP 

  1. All stop pay's must be requested by AP Team members only
  2. HHM policy is to not do a stop pay before 30 days following the check date
  3. If there is an emergency the AP Specialist must note why we are requesting prior to 30 days
  4. If a check is under $100 Treasury team is not to do a stop pay (the cost is $35 for a stop pay) the risk is not worth the cost to the property
  5. AP is expected to give full details (including a copy of the check) for checking on a cleared check, along with directions on if cleared and if not cleared (this is to cut down on the multiple emails to take care of one transaction.
  6. For stale-dated check requests where the AP team intends to reissue, it is crucial to indicate this on the ticket when submitting to Treasury. This will allow us to void the original check at the bank, preventing it from being cashed in the future. This process is particularly important for M&T Bank stale-dated check inquiries.





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