What Is a Stop Payment Fee?
If you cannot or do not want to go through with a transaction or check that you wrote, you can request that Bank of America halt the payment. The bank will consider your request and determine whether they will stop the payment from going through.
If they agree to stop the payment, you will not have to pay for the check or transaction, but you may have to pay a stop payment fee instead.
How Much Does a Stop Payment Fee Cost at Bank of America?
Bank of America charges $30 for each stop payment request. However, you will not incur a stop payment fee on recurring debit card transactions.
Depending on the type of bank account that you have, you may be able to get this fee waived or refunded.
If you have one of the following accounts, you can qualify for a stop-payment fee waiver:
- Business Advantage Relationship Banking
- Preferred Rewards
Special Considerations
You should first try to stop a payment by contacting the merchant (the business or individual on the charging end of the transaction). That way, you can try to avoid a stop-payment fee from your bank.
If you are unable to stop a payment by reaching out to the merchant directly, you can stop the payment on your end using a few different methods:
- Log into your Bank of America account online and select Stop Payment under Services
- Stop Payment by Phone: 1-800-432-1000
- Stop Payment in Writing. You can send your correspondence to:
Bank of America
PO Box 25118
Tampa, FL 33622
Declined Stop Payment Requests
Depending on the method that you use to request a stop payment, the investigation can take up to sixty days to complete. If the bank declines the disputed payment, the payment will stay posted on your account.
Stop Payment Renewals
Your initial stop payment request is generally valid for six months from the date of your request. You may need to pay another fee to renew the stop payment request if the recipient cashes your payment after the six-month window.
How to Avoid a Stop Payment Fee
It is not always feasible to avoid a stop payment fee, but there are a few things that you can do to minimize your chances of getting one.
- Make sure you are purchasing from a trusted and reputable seller
- Ensure that you have the correct recipient information
- Confirm that you have the right payment amount
- Ask the merchant not to initiate the payment before requesting that your bank stop the payment.
Find Bank of America’s full fee schedule here.
