I lost a check ($62) from a person I knew, and asked the person to paypal me. The person is going to stop payment on the check and deduct the bank fee of $25. I said I won’t cover the bank fee because the check is made out to me, no one could cash it. And I certainly would NOT cash it IF I find it.
Stop payment on a missing check is common sense. A check has personnel information with name, address and account number. Maybe it dropped on a floor and someone else had it. I would do the same. I know that you wouldn’t cash it if you found it later. But I wouldn’t feel comfortable knowing a “live” check is somewhere. I have been working in finance long enough to know this is a common practice.
Stop payment won’t prevent others from seeing the check and picking up the check. It only prevent me from cashing it.
What am I missing here?