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Contact Your Banking concern and Put a Terminate Payment on the Cheque

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If you lot suspect a check has been lost or stolen, you first need to contact your bank. If the cheque hasn't already been cashed, and so you can request that they put a cease payment on information technology. It'due south a formal request that the bank check not be paid out past the bank if information technology'southward deposited or presented to be cashed. Stop payments on personal checks usually last for upward to 6 months.

You can usually request a terminate payment past calling your depository financial institution or visiting a co-operative. Some financial institutions likewise let y'all to do it online.

To put a stop payment on a cheque, you'll need to know the check number, the verbal corporeality of the check, and who you lot made it out to. If you present whatever of that data incorrectly and then the check might however exist cashed.

Be Enlightened of the End Payment Fees

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The fees for stopping a check can range from $15 to $35. Some banks waive fees for customers who have certain types of premium accounts, and others don't charge a fee if the checks that were lost or stolen were bare.

You lot should be prepared to pay the fee to stop the check, and yous may need to pay it once more if you lot accept not plant the missing bank check when the six-month agree expires.

Call back to residuum the amount the check was written for against the need to put a cease payment on it. If the check amount is less than the fee you'll pay to put a end on it, then it's probable non worth doing. Too: The fee is per particular, and then if yous had several checks stolen, they can add together up quickly.

Consider Other Options

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A finish payment can be a good solution when you know of i check that was lost in the post. But you may want to review some other actions likewise.

If you lot doubtable criminal activity, so you'll also need to file a police report. If you believe the cheque was stolen from the mail service, then you'll also want to report it to the U.South. Postal Service Office of the Inspector Full general.

If an unabridged checkbook was stolen, or if you doubtable fraud, and then you might want to consider putting a freeze or hold on your account, or endmost out the account completely and opening a new one. Each bank has different policies, so it's a good idea to contact a banking concern representative to review your options.

Watch Out for Identity Theft

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After a check is stolen, y'all run the same risk of identity theft that you would face after your checkbook or credit cards are stolen. Yous'll need to monitor your credit reports over the next several months.

Y'all can prepare a flag on the credit reports that states that the bank must call y'all before they lend you lot money or to put a freeze on your credit report. If you lot're thinking about buying a domicile or car soon, then information technology may not be very convenient, but it tin can save your credit report and prevent you from needing to clean up a big mess in the future.

If you do become a victim of identity theft, you'll need to protect yourself and then y'all can dispute the charges with the bank and recoup your coin. The Federal Trade Committee's identity theft website, will walk y'all through the steps yous can accept to protect yourself based on your circumstance.

Take Preventative Measures

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Taking measures to aid prevent your checks from being lost or stolen in the first identify can relieve you lot a major headache.

Offset, try non to write checks if you don't have to. Nearly banks and credit unions offer online banking services, and many transactions can at present exist completed online, which eliminates the demand to write checks altogether.

If y'all have to write checks, then treat your checkbook similar greenbacks. Go on it at home in a condom identify. If you're mailing a check, you may want to send it via certified post, depending on the corporeality of the check.

Only the most important affair you can practise to preclude this from happening is to monitor your checking account daily and then y'all can quickly place any fraudulent activeness or charges. This can salvage you time—and money—in the long run.

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Source: https://www.thebalance.com/stop-payment-lost-check-2386135

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