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40 votes
40 votes
True or False: A stop-payment fee is more expensive than paying a bounced-check fee and the value of the check itself.

User Madhurgarg
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1 Answer

21 votes
21 votes

I'm pretty sure it is false

A stop-payment fee is used if you write the wrong amount or the wrong recipient for a personal check. Stop-Payments ensure that you will not be charged for a purchase that you cancel after sending out the check. Most banks charge the account holder a fee of 15$ - 35$ for each stop payment order

A bounced-check fee is if your financial institution does not cover the check, it then bounces and returns to the depositor's bank. You'll most likely be charged for a penalty for the rejected check; this is a nonsufficient funds fee, the costs are around 35$ or more depending on your specific financial institution

User William Gross
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