How to Stop Automatic, Recurring Payments to a Vendor


If you have arranged for a vendor to be paid on a regular basis through automatic deductions from your checking account – you have a legal right to stop such payments.

Victory State Bank, Staten Island’s only community-based commercial bank, understands that agreements between businesses and consumers may change, so the bank advises consumers to be aware of the procedures for stopping automated payments.

Regular, automatic deductions from your checking account may cover expenses such as insurance premiums or utility bills. As explained on the website, the Electronic Fund Transfer Act (EFTA) allows you to stop those payments.

To place a halt on such automated payments:

  • You should first notify the vendor.
  • Then, inform your bank about your request at least three business days before the money is scheduled to be transferred. Your notice to the bank may be oral, but the institution may require you to provide a written follow-up within 14 days to ensure that no additional payments are made. If you do not provide a written follow-up, the bank is no longer responsible for stopping future payments.

Stopping an automatic, recurring payment on a credit card is different.

In this case:

  • Start by putting in your request to the vendor.
  • If the vendor continues to charge your card, contact your card issuer. You’ll have 60 days to dispute the charge, starting when the card issuer sends you the statement with the charges.

While your financial institution may stop some payments, you may still be legally obligated for other payments depending on your contract with the service provider.

Further Information About Stop Payments

For questions or concerns about stopping a payment, first contact your financial institution. To receive additional guidance, contact the Federal Deposit Insurance Corporation (FDIC).



About Victory State Bank


VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at


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