When a member wishes to place a STOP PAYMENT REQUEST on one or more of their
share drafts the system allows you to enter that request into the member's
history. A STOP
PAYMENT REQUEST remains active on the system for 10 months (unless
manually cancelled) then drops off the system.
Placing a STOP PAYMENT
REQUEST will accomplish the following:
1.
The member has a record
that a STOP PAYMENT REQUEST was received
by the credit union.
2.
Tellers receive a warning
if someone tries to cash this share draft over the counter in the credit union
3.
The system alerts you
before posting share drafts via Program #24 that a share draft is going
to be posted for which you have received a STOP
PAYMENT REQUEST.
4.
The credit union can
pull up a list via Program #5 Option I of all STOP PAYMENT REQUESTS placed by a member, which are still in
force.
Note: YOU MUST STILL CALL YOUR SHARE DRAFT
PROCESSOR TO PLACE A STOP
PAYMENT REQUEST WITH THEM SO THAT THE SHARE DRAFT
WILL BE
RETURNED.
When a share draft tries to clear your members
account, the system looks for an exact match of information pertaining to that
draft in Program #5 Option I. There are
several different ways you can provide information to Stop Payment on a
share draft. There are four information
fields available as follows:
Information Field Example
Single Draft Number Draft
#510
Draft Amount $123.45
You can enter information in only 1 field or as many as you choose, but remember:
The system
looks for an EXACT match of all
information available before warning you of a STOP
PAYMENT REQUEST. If any 1
field is invalid the system will not recognize a match, and you will not be
notified of the STOP PAYMENT REQUEST. For this reason it is advisable to enter only the information you feel necessary to identify the
item.
1.
Access the member's account
in Program #2.
2.
Under Share-Withdrawal/Fees choose transaction #046 SP STOP PAYMENT REQUEST.
3.
Since this is not a
dollar transaction, the PRIOR-SHARE-BALANCE
and Enter TRANSACTION (DOLLAR) AMOUNT
fields will say N/A
4. The
cursor is in the MANDATORY Enter starting DRAFT
NUMBER field.
1) If you are entering a STOP PAYMENT REQUEST for a single share draft enter the draft number here.
2) If you are entering a STOP PAYMENT REQUEST for a range of share drafts (more than one share draft with consecutive draft numbers), enter the first number in this field.
5. Optional
! Enter ending DRAFT NUMBER
1) If you are entering a STOP PAYMENT REQUEST for a single share draft, leave this field blank.
2) If you are entering a STOP PAYMENT REQUEST for a range of share drafts (more than one share draft with consecutive draft numbers), enter the last number in this field
6. Optional!
Enter draft amount
1)
If you leave this field
blank the system will notify you of a STOP PAYMENT
REQUEST for any
share draft that matches the draft number or range of numbers entered
above, regardless of the dollar amount.
2) If you know the exact dollar
amount of the draft for which you wish to Stop
Payment you can enter that amount in this field.
3) If you do not know the exact amount of a share draft, but know that it falls within a range (i.e. between $50 and $60) you can ask the system to consider anything within that range a MATCH. To do this enter the lower amount in this field.
7. Optional!
Enter amount range
1) If you are entering a dollar "range", enter the largest amount in this field.
8. Press F11 to view the voucher. Regardless of the information entered, the dollar amount on the voucher will always be $0.00.
9. Enter your Teller Password and press F9 to enter the transaction and print the voucher.
10. Notify your share draft processor that a STOP PAYMENT REQUEST has been place on this
share draft or range of share drafts.