Stop Payment Disclosure
Morton Community Bank
721 W Jackson St
Morton IL, 61550
(309) 266-5337
To submit a stop payment request, you must read the disclosure below and complete the required information on the Stop Payment Request form.
Stop payment fees are assessed for each check and EFT item as published in our current account services fee schedule.
When the stop payment request has been submitted, we will present a confirmation page. You should print a copy of the confirmation page for your records.
We will process the stop payment based upon the information that you provide on the Stop Payment Request form. If you do not give us the correct information, we may not be able to enforce the stop payment order.
A check stop payment order is effective for six months from the business date submitted, but may be renewed by you upon request in writing to the address above or by telephone or via secure email available through the bank’s internet banking system.
Stop Payment cut-off time is one hour after the opening of the next banking day after the banking day on which we receive the item.
Stop Payment requests apply to checks you have written, bill payments or pre-authorized electronic funds transfers (EFT’s) that are deducted from your account. The service cannot be used to cancel transfers between accounts.
Pre-Authorized Electronic Funds Transfers (EFT): When you initiate an online stop payment request for a pre-authorized EFT, you may submit the stop payment request at least three (3) Business Days before the scheduled date of the EFT.
Morton Community Bank accepts this stop payment request subject to the provisions contained within the Uniform Commercial Code as adopted by Morton Community Bank, Regulation E as it pertains to pre-authorized EFTs, and in accordance with your current depository account agreement. Pre-authorized EFT stop payment requests for consumer and non-consumer accounts will remain in effect until we receive a written order requesting the stop payment order be withdrawn. Stop payment requests may be submitted by phone, in writing to the address above or via secure email available through the Bank’s internet banking system.
You agree to hold Morton Community Bank harmless from and against any losses, claims or costs (such as attorney fees) incurred by (1) payment contrary to this order if such payment occurs otherwise than by a failure to exercise ordinary care, or (2) refusal to make payment of the stopped item.
You will notify Morton Community Bank promptly of the issuance of a check or item, which is a duplicate of the check or item subject to this stop payment order, or upon the return of the original check.
Morton Community Bank shall not be liable for payment of any item subject to a stop payment order upon the expiration or withdrawal of such order, and Morton Community Bank may, in its discretion, refuse to honor any such item pending your instruction. You may withdraw this stop payment order only in writing to the address above, in person at one of our branch offices, or via secure email available through the bank’s internet banking system.
By submitting the stop payment request, you acknowledge and agree to the above terms and conditions and authorize the assessment of the applicable stop payment fee to the account affected by the stop payment request. You attest that the check or item was not originated with fraudulent intent by you or any person acting in concert with you. You also certify that you are an authorized signer, or otherwise have the authority to act, on the account affected by the stop payment request.