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Stop Payment Order. Revocation of a check; a notice made by a depositor to his or her bank directing the bank to refuse payment on a specific check drawn by the depositor. An individual who writes a check can revoke it unless it has been certified, accepted, or paid. If a bank pays a check after a timely stop payment order by the depositor, the bank is usually liable to the depositor for the amount paid.
Dictionary entry overview: What does stop payment mean? â¢ STOP PAYMENT (noun) The noun STOP PAYMENT has 1 sense: 1. a depositor's order to a bank to refuse payment on a check Familiarity information: STOP PAYMENT used as a noun is very rare.