1. Money

Stop Payment

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Definition: To request that your bank not honor a check you wrote. The bank will not deduct funds from your checking account if the stop payment request is successful. The payee will not get any money, and they'll think your check bounced. Most banks charge a fee to provide this service.

Note that stop payment requests are not indefinite -- they generally expire after 6 months. Ask your bank how long the request lasts, and what happens after expiration.

Also Known As: Place a hold, put a hold, place a stop
Examples:
I never got my merchandise, so I stopped payment on the check I wrote them.
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