What is the customer fee for a stop payment on lost or stolen checks?

The customer fee for a stop payment on lost or stolen checks is typically set at $28. This fee structure reflects the operational costs that banks incur when processing stop payment requests. It covers the administrative work involved in tracking the original check, preventing potential fraudulent use, and ensuring compliance with financial regulations.

Banks establish this fee to balance the need to provide protective services for customers while also maintaining operational efficiency. By charging a fee, the bank also encourages customers to take preventive measures, such as keeping better track of their checks. In this context, the fee is a necessary part of bank operations to mitigate losses from lost or stolen checks effectively.