If you write a check you can usually put a stop payment on the check as long the recipient hasn't cashed it. Several reasons exist for needing a stop payment, also called a canceling a check. These include realizing you don't have enough money in your account to cover it, or not receiving the services promised from the person you paid with the check. If you are a Capital One account holder, there are restrictions on the kinds of checks you can cancel.
While it is legal to stop payment on a check, if you stop payment on a check in bad faith, or without good reason, the person or business you paid with the check could sue you for damages.
In some states and municipalities, recipients of a stop payment check can take the check writer to court under bad check laws.
According to Capital One's Indemnity Agreement, it will not cancel any check that is already in the hands of a third party such as the recipient. You can only request a canceled check if the check has been lost, stolen or destroyed.
Step 1: Fill Out Indemnity Agreement
You can request the Indemnity Agreement from any Capital One branch, download it from the Capital One website or fill it in online through your Capital One online banking account under "Self-Service. The agreement asks for:
- Check number
- Date written
- Name of check recipient
- Your name, address, signature and Capital One account number
Step 2: Turn in Agreement
To complete the process, turn in the completed Indemnity Agreement by:
- Visiting any Capital One branch
- Mailing it to the Capital One address on the form
- Faxing it to 1-877-650-3528 with ATTN: CORR included on the cover sheet
- Submitting it online through your online account
Step 3: Pay the Fee
Capital One charges $35 for each stop check payment, as of publication. It deducts that amount directly from your account.
Capital One 360
If you're a Capital One 360 customer, you should call 1-888-464-0727 between 8 a.m. and 8 p.m. to request a stop payment on a check. Have your check number ready to give the associate. Or, if you sent a paper check via your online account, you can log into your account, click on that transaction and follow the instructions to cancel the payment. The stop payment fee for Capital One 360 customers is only $25. Capital One immediately deducts the fee but you get a refund if it cannot stop payment on the check.