Consumer Accounts
STOP PAYMENT TERMS AND CONDITIONS
By directing MVB Bank to stop payment on the above transaction(s), the accountholder agrees that the Bank is not obligated to honor a stop payment request that does not contain accurate information provided in a timely manner. The accountholder understands that it is necessary to provide the correct information related to the transaction. Failure to do so may result in the payment of the above item. The accountholder agrees to hold harmless and indemnify the Bank for all expenses, costs, and damages incurred by payment of the above item if such payment is the result of failure of the accountholder to furnish any item of information requested above completely, accurately, and correctly, according to the time requirements noted below.
Additional Terms and Conditions for Stop Payments of ACH/Converted Check Items Affecting Consumer Accounts
This stop payment order shall remain in effect until the earlier of (1) the withdrawal of the stop payment order by the accountholder, or (2) the return of the debit Entry, or, where a stop payment order is applied to more than one debit Entry under a specific authorization involving the Company, the return of all such debit Entries. For Recurring Entries: At least three Banking Days advance notice prior to the expected receipt date of the debit Entry may be required to implement the stop payment request. If the stop payment order is received within three Banking Days of the expected receipt date, the Financial Institution will attempt to satisfy the request of the accountholder but will not be held liable if sufficient time was not provided. For ARC Entries, BOC Entries, POP Entries, RCK Entries, Single Entries and Subsequent Entries: The stop payment request must be provided to the Bank in such a time and in such a manner as to allow the Bank reasonable time to act on the request prior to acting on the debit Entry.
Additional Terms and Conditions for Stop Payments of Check/Share Draft/Paper Draft Items
A stop payment order is effective for six months and may be renewed for additional six-month periods by written request to the Bank within the period during which the stop payment order is effective. The stop payment request must be provided to the Bank in such a time and in such a manner as to allow the Bank reasonable time to act on the request prior to acting on the item.
Business Accounts
STOP PAYMENT TERMS AND CONDITIONS
By directing MVB Bank to stop payment on the above transaction(s), the accountholder agrees that the Bank is not obligated to honor a stop payment request that does not contain accurate information provided in a timely manner. The accountholder understands that it is necessary to provide the correct information related to the transaction. Failure to do so may result in the payment of the above item. The accountholder agrees to hold harmless and indemnify the Bank for all expenses, costs, and damages incurred by payment of the above item if such payment is the result of failure of the accountholder to furnish any item of information requested above completely, accurately, and correctly, according to the time requirements noted below.
Additional Terms and Conditions for Stop Payments of ACH/Converted Check Items Affecting Business Accounts
The stop payment order will remain in effect until the earlier of (1) the withdrawal of the stop payment order by the Receiver; (2) the return of the debit Entry; or (3) six months from the date of the stop payment order unless it is renewed in writing. The Bank may establish a longer effective period for a stop payment order. The Bank may not require the renewal to be in writing, they would determine how to accept the renewal on the stop payment order. The stop payment order must be provided to the Bank at such time and in such manner as to allow the Bank a reasonable opportunity to act upon the stop payment order prior to acting on the debit Entry.
Additional Terms and Conditions for Stop Payments of Check/Share Draft/Paper Draft Items
A stop payment order is effective for six months and may be renewed for additional six-month periods by written request to the Bank within the period during which the stop payment order is effective. The stop payment request must be provided to the Bank in such a time and in such a manner as to allow the Bank reasonable time to act on the request prior to acting on the item.
Download Consumer and Business Stop Payment Terms and Conditions
