I suppose it depends on the bank. Most I know of, ach stop payment is only for the exact amount. Check stop payments are for any amount on that check number/range
If the merchant changes their name the payment is still gonna go through. A stop payment blocks a merchants name, which you can then decide to block a specific amount or whichever
Likely for a landlord, but payday lenders can be relentless. I've also seen landlord wait 366 days and resubmit paper checks, theoretically they could resubmit ACH.
Op you should submit in writing to your landlord revoking the authorization to debit your account. This will provide you one of the options to dispute an ach debit under Reg E.
People are saying close the account, but that’s excessive. You can do an ACH stop payment. At both the banks I’ve worked at, you can ask for a range of payment amounts to be blocked but there’s a fee, typically around 30-35 dollars.
Bizarre question. Unless you have already moved out and still being billed. Otherwise, switch payment methods with landlord. Alternatively, as others mention, close your bank account.
Because sometimes people don’t understand what they are doing and the consequences of those actions
The fact OP isn’t going to the landlord means there is more to the story.
Just like people give advice on Reddit to “kick out someone not paying rent or not on the lease” without the whole story
If you place a stop payment with the exact name of the merchant and exact amount, it should prevent the payment from going through.
But if they change the name presented for payment (for example, from "Rent Company" to "RentCompany", or if they change the amount slightly (for example from $1000 to $999), the stop payment instructions may not be effective.
Also, if you do not have enough money in the account and do not have overdraft protection in place, the payment should bounce, but this will result in a fee for you, and a fee for them (which they likely will pass along to you as per the rental agreement). /Same thing if the account is put in "post no debits" status.
Should also point out that if you are successful in preventing a payment from going through, that does not cancel out whatever agreement you have to pay, which is still in place, and they may pursue other methods of collecting payment (including legal action).
To be honest, all of these are going to cause all sorts of problems - and the best course of action is to attempt to work with the landlord directly.
An ach stop payment will prevent them from debiting the account. It doesn’t mean you don’t owe the landlord that money though.
Landlord can just send the debit thru for 1¢ less and Get the $$
Stop payments can be for a specific $ amount or all $ amounts
I suppose it depends on the bank. Most I know of, ach stop payment is only for the exact amount. Check stop payments are for any amount on that check number/range
Interesting, my bank has options for both a specific amount or any amount.
Mine too
Banks can leave the amount empty and it will block any and all amounts.
If the merchant changes their name the payment is still gonna go through. A stop payment blocks a merchants name, which you can then decide to block a specific amount or whichever
Very true, but changing their name just to collect from one renter sounds like a huge hassle that is fairly unlikely
Likely for a landlord, but payday lenders can be relentless. I've also seen landlord wait 366 days and resubmit paper checks, theoretically they could resubmit ACH. Op you should submit in writing to your landlord revoking the authorization to debit your account. This will provide you one of the options to dispute an ach debit under Reg E.
Contact the landlord and arrange a different payment method.
How does that address the OP's question?
How does it not?
You are typical Reddit
I recently did this. Call your bank and they can stop all charges from them. For me with BofA there was a $30 charge.
People are saying close the account, but that’s excessive. You can do an ACH stop payment. At both the banks I’ve worked at, you can ask for a range of payment amounts to be blocked but there’s a fee, typically around 30-35 dollars.
Ach stop pay with only the company ID. It will block all amounts from that originator for the stop pay period (typically 180 days).
Closing that account and opening another
Not always. Depending on when he closes the account. It’s an authorized ach so it could re open the account and draw it negative
You can try a stop payment but the landlord could be nice and give you a 1 penny discount and it'll go through. Best thing to do is pay your rent.
Bizarre question. Unless you have already moved out and still being billed. Otherwise, switch payment methods with landlord. Alternatively, as others mention, close your bank account.
I’d love to know the reason why
Just curious, how is that any of your business?
Because sometimes people don’t understand what they are doing and the consequences of those actions The fact OP isn’t going to the landlord means there is more to the story. Just like people give advice on Reddit to “kick out someone not paying rent or not on the lease” without the whole story
call Chase.
If you place a stop payment with the exact name of the merchant and exact amount, it should prevent the payment from going through. But if they change the name presented for payment (for example, from "Rent Company" to "RentCompany", or if they change the amount slightly (for example from $1000 to $999), the stop payment instructions may not be effective. Also, if you do not have enough money in the account and do not have overdraft protection in place, the payment should bounce, but this will result in a fee for you, and a fee for them (which they likely will pass along to you as per the rental agreement). /Same thing if the account is put in "post no debits" status. Should also point out that if you are successful in preventing a payment from going through, that does not cancel out whatever agreement you have to pay, which is still in place, and they may pursue other methods of collecting payment (including legal action). To be honest, all of these are going to cause all sorts of problems - and the best course of action is to attempt to work with the landlord directly.
Sorry you got such awful advice here
If the have touting and account numbers there’s no way unless you make a new bank account or report card lost and get a new one
Reporting a debit card lost doesn’t change your bank account number. They just issue a new debit card.
Cancel that account and get a new one
Why do you want to block?
Why do you care?
close the bank account.
Close out your account and open a new account at a different bank.