stop payment

**stop payment**
A “stop payment” is a banking instruction given by an account holder to their bank to cancel the processing of a specific check or electronic payment before it is completed. This action can prevent funds from being withdrawn if the payment is lost, stolen, disputed, or made in error. Common reasons for initiating a stop payment include unauthorized transactions, payment errors, or disputes over goods or services. Keep in mind that banks may charge a fee for processing stop payments, and they typically require detailed information such as check number, date, and amount to ensure the payment is successfully halted.