Student Refund Checks Stop Payment Policy (FB 3)
To establish a procedure allowing the timely reissue of student refunds checks which are lost, stolen, or mutilated.
Stop Payment: An order or request to a banking institution not to honor the payment of a check after it has been presented but before it has been cashed.
I. Stop Payment Request
- Stop payments cannot be placed on a check until 14 days after the date the check was issued.
- The stop-payment process cannot be cancelled or reversed.
- If the original check is received or found after a stop payment has been requested, the original check must be returned to the NSC cashier’s office as soon as possible.
- If a check is cashed for which a stop payment request has been issued, then the recipient will have received double payment and committed fraud. NSC will place a financial hold on the student’s account until the college has been fully reimbursed. In addition, penalty charges will be assessed to the student’s account equal to all banking related fees but not to exceed $100.00. Check fraud is a reportable crime in the State of Nevada.
II. Complete and Return the Stop-Payment Form
A stop payment form must be completed and signed with the NSC Student Cashier’s Office.
III. Once Stop-Payment Form Is Received by Cashier’s Office
- Upon receipt of the stop payment form, the Cashier’s Office will process the stop payment form and submit the stop payment request to the NSC Controller’s Office. The NSC Controller’s office will verify with the Bank that the check has not been received or cashed, and then the stop payment is placed.
- The Cashiers Office will issue a replacement check within ten (10) business days after the completed stop-payment request form has been placed with the bank.
- The reissued check will be mailed to the address provided in the stop payment request form and the student’s account will be updated with this address. It is the student’s responsibility to keep their address current on their student record.
Stop Payment Request Form
Office of Financial Aid
Approved by Vice President Buster Neel, February 1, 2010.
Approved by Provost Dr. Lesley DiMare, February 1, 2010.
Approved by President Dr. Fred Maryanski, February 1, 2010.