Son of Five Rivers Blog

For the advancement of Entrepreneurship, Sustainability & the Ecology of Everyday Life

Can you cash a cheque with a stop payment on it? YES

At one point or another a Small Business has proabably put a stop payment on a cheque.  But guess what, it still can be cashed! That’s right,  places like Money Mart cash the cheque even with the stop payment.

Money Marts’ view on the matter:

“What we need is better consumer education about the obligation that comes with writing cheques in the first place”

– Money Mart

So your out the amount on the cheuqe and decide to sue to get it back… guess what you’ll lose and the court costs are on you, don’t forget to mention your time.   How do they win, they use an old law from the 1890’s called  The Bills of Exchange Act.   The act basically says the person who writes the cheque is responsible for it.

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September 5, 2009 - Posted by | Business, Business Development, Entrepreneurship, Finance, Products, Sales | , , , ,

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