RegAlertRule · CBJ · 11 Feb 2015
Circular Regarding the Stopping Payment Commission (Check Stop) No. 1763/4/2/10 dated 2015/2/11
The Central Bank of Jordan clarifies that the 'stopping payment commission' charged by banks applies exclusively to situations where the drawer requests a stop payment due to a dispute between the drawer and the payee. The directive addresses complaints regarding banks charging this fee when a check is lost or torn, indicating such charges are not in accordance with the intended scope of the fee schedule. Banks are instructed to ensure that this fee is not applied to cases involving lost or torn checks.
In the Name of Allah, the Most Gracious, the Most Merciful
Number: 1763/4/2/10
Date: 29/6/1436 AH
Corresponding to: 11/2/2015 AD
Circular to Banks Operating in the Kingdom
Greetings,
Recently, a number of complaints were received regarding certain banks charging a "stopping payment commission" (check stop) based on the drawer's request when the check paper and/or the check itself is lost or torn.
We wish to clarify that the "stopping payment commission" referred to in the attached fee schedule under the instructions for dealing with currencies regarding justice and transparency No. (2012/56) dated 2012/10/31, refers to the commission for stopping the payment of a check upon the request of the drawer in the event of a dispute between the drawer and the payee.
Please accept our highest regards,
The Governor
Dr. Ziad Fariz
info@cbj.gov.jo • www.cbj.gov.jo • P.O. Box 20000 - Amman • Phone: 4630300 • Fax: 4630305 • Email: info@cbj.gov.jo
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“clarify that the 'stopping payment commission' referred to in the attached fee schedule under the instructions for dealing with currencies regarding justice and transparency No. (2012/56) dated 2012/10/31”
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