Even if the other party who has a Capital One check you want to be canceled hasn't cashed the check yet, you might not be able to cancel it. This is because Capital One has a policy that only lets you cancel a check under specific and limited circumstances.
Knowing when you can stop payment on a Capital One check and how to do it will help you avoid problems when you need to do this.
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Read More: How to Cash a Capital One Check
Canceled vs. Voided vs. Stop Payment
Technically, a canceled check is one that's been paid by the bank. The issuer of the check gets a copy of a canceled check so he has proof that he paid and the check was cashed.
If the check owner doesn't want the check paid, she can try to stop payment on the check, canceling the transaction (but not the check). The check isn't canceled, it just won't be honored when it's presented to the bank for payment.
This helps prevent lost or stolen checks, or those involved in fraud, from being paid. If you make a mistake on a check or someone wants to exchange a check you've written, you can write "void" on the check if you need to keep it with your other checks for record-keeping purposes.
If you contact your bank and ask them not to honor a check that is not in your hands, you are asking them to stop payment – not cancel – the check.
Read More: How to Cancel a Bank Transaction
When Can You Cancel?
In the past, banks sometimes let you stop payment on a check if it hadn't been cashed if you had a good reason, such as if the recipient of the check changed an agreement you two made, such as a contract or exchange of goods or services that weren't delivered.
Both you and your bank had some legal limits on not honoring checks because this would allow people to pay for things with checks, receive the goods or services, then stiff the person who was paid with the check. This was (and still is) illegal, so banks wouldn't automatically stop payment on a check just because you asked.
Capital One's indemnity agreement states that you can only stop payment on a check if it has been lost, stolen or destroyed. You must also sign a statement that you believe the check has not been delivered to the person it was made out to or endorsed by a third party.
Read More: Reasons to Stop Payment on a Check
Capital One Cancel Payment
To initiate the Capital One cancel payment process, you can visit the Capital One website to download and fill out the form "Request to Cancel a Capital One Check." You'll be required to fill out the check number, date it was written, amount and the name of the person or organization it was made out to.
You must check a box stating whether the check was lost, stolen or destroyed. You'll then fill out your name, address and account number and put your signature on the form. You can then either mail or fax the form to the address/fax number at the bottom of the form:
PO Box 4199
Houston, TX 77210-4199
Fax to: 877-650-3528 – ATTN: CORR
You can also drop the form off at a Capital One branch office.
According to Capital One's website, as of August 2021, the fee for stopping payment on a paper check or bill pay is $25.
If you stop payment on a check and the recipient tries to deposit it into his account, the check won't be honored by her bank. She might be charged a fee by her bank for trying to deposit a bad check. Depending on your relationship with her and the reason you "bounced" the check, you might offer to pay the fee she incurred.