? asked in Business & FinancePersonal Finance · 4 years ago

Can a company stop payment on a direct deposit?

So, my fiance gets his payroll check direct deposited into his savings account at bank A, and long story short we owe money to bank A that we can't pay yet and were trying to get his check deposited into bank B for this week. The paperwork did not get processed in time, and the check went to bank A and bank A claimed it all and put it toward his debts. Is there any way to get that money that they claimed back? We need it for rent and bills and whatnot this month. If he goes to the bank and asks for it back is there any way he can get it, or can he have his employer stop payment on the ACH direct deposit and write him a paper check? We're really stuck! Thanks.

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  • 4 years ago
    Favorite Answer

    If your fiance has a good relationship with the payroll people at work, he can get the money back. It may not be tomorrow, but here is what you do.

    Direct deposit is done through the ACH system. The employer would have submitted a batch file to their ACH provider saying to pay bank A. Once it hit the bank, the bank converted the credit into payment for your debts. I know the other people are saying you are stuck, but if the employer reverses the ACH deposit into bank A, the bank will re-apply your debit to their books and credit the employer back on the employer's payroll account.

    Keep in mind, bank "A" will be charging you to get the deposit and reverse it and will likely tack on extra fees to your outstanding bill.

    Once the employer gets confirmation the ACH is reversed - they can issue a check or direct deposit it into account B. This will not be "a stop payment on the ACH" but a reversal.

    This may be more complicated if the employer uses a payroll service and don't have the ACH account themselves.

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  • Teresa
    Lv 5
    4 years ago

    if your fiance has a good relationship with the payroll people at work, he can get the money back... it may not be tomorrow, but here is what you do...

    direct deposit is done through the ach system... the employer would have submitted a batch file to their ach provider saying to pay bank a... once it hit the bank, the bank converted the credit into payment for your debts... i know the other people are saying you are stuck, but if the employer reverses the ach deposit into bank a, the bank shall re-apply your debit to their books and credit the employer back on the employer's payroll account...

    keep in mind, bank "a" shall be charging you to get the deposit and reverse it and shall likely tack on extra fees to your outstanding bill...

    once the employer gets confirmation the ach is reversed - they can issue a check or direct deposit it into account b... this shall not be "a stop payment on the ach" but a reversal...

    this may be more complicated if the employer uses a payroll service and don't have the ach account themselves...

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  • 4 years ago

    See about taking out a payday loan.

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  • 4 years ago

    Nope

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  • wg0z
    Lv 7
    4 years ago

    Bank A took the loot under right of offset and will be keeping it.

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  • Palmer
    Lv 6
    4 years ago

    bank a took the loot under right of offset and shall be keeping it...

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  • Judy
    Lv 7
    4 years ago

    no. You owed it to them, so they took it

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  • Tracey
    Lv 6
    4 years ago

    no......... you owed it to them, so they took it

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  • 4 years ago

    NO they can NOT.

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  • Anonymous
    4 years ago

    no........................... you owed it to them, so they took it

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