Stop payment on a deposit check

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Pharmist

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On 2/25 I wrote a $2000 check for a pharmacy school deposit that was due on 2/27. The school still has the check and has not cashed it according to my bank account. This week I found out that I got into my 1st choice so I just put a stop payment on the check. What do you all think? It was definitely a hard choice.

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On 2/25 I wrote a $2000 check for a pharmacy school deposit that was due on 2/27. The school still has the check and has not cashed it according to my bank account. This week I found out that I got into my 1st choice so I just put a stop payment on the check. What do you all think? It was definitely a hard choice.

My roomate did the same thing. The check bounced and she ended up having to pay the deposit anyway as well as the penalty fee for the check that bounced.
 
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yikes, well mine should not bounce because the funds are there. It is just a matter of my bank not allowing the payment. I mean if it's going to bounce then what is the point of a stop payment. As long as the schools does not try to cash the check today or Monday I should definitely be safe.
 
I am going to let the school know Monday, but I want to give the bank some time to have the stop payment in place.
 
I was in a similar situation. I contacted the admissions and talked it out with the admissions director and he was nice enough to return the check to me because he did not send the check to their business office.

Contact someone at admissions who handles all the deposits and tactfully talk it out with them. good luck.
 
yikes, well mine should not bounce because the funds are there. It is just a matter of my bank not allowing the payment. I mean if it's going to bounce then what is the point of a stop payment. As long as the schools does not try to cash the check today or Monday I should definitely be safe.

That's so unethical! You should not be allowed in the pharmacy school in the first place!
 
It's $2000. To some people, $2000 is a lot of money. I think it's more unethical for pharmacy schools to keep a $2000 seat deposit after withdrawing a seat to go to a different school. The only people who profits in that type of situation is the school and the student ends up being exploited.

Besides, the school will still profit because the seat will go to someone on the waitlist who is going to pay another $2000 seat deposit.
 
I would have done the same thing, as far as the check bouncing your roomate could not have did a stop payment because the check would not have even been honored. Just contact the school and let them know you stopped the check, hell $2000 is alot to waste on a deposit for a school you don't want to attend.

Goodluck :)
 
I think that's smart thinking, not unethical. I could see the school harassing you a bit about it, but hopefully they will have some decency :) Congrats on getting in to your top choice!
 
This exact thread was made last year, so if you want some more opinions here it is.
http://forums.studentdoctor.net/showthread.php?t=501169

There's a lot of different opinions both ways, so it's up to what you feel is the right decision. I personally think it is wrong since you knew the rules of sending that deposit. Secondly, don't burn any bridges.
 
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Unethical? hell no! we are talking about $2000 in this economy baby! I think the adcoms know we apply to several schools and will understand. It will only be wrong if you dont inform them before they make an effort to cash it. I dont think you will burn any bridge if you politely explain your decision to them. Think about this, there are so many people who are waiting to get that spot and hence willing to pay that money. The school is not disadvantaged in anyway
 
On 2/25 I wrote a $2000 check for a pharmacy school deposit that was due on 2/27. The school still has the check and has not cashed it according to my bank account. This week I found out that I got into my 1st choice so I just put a stop payment on the check. What do you all think? It was definitely a hard choice.

My roomate did the same thing. The check bounced and she ended up having to pay the deposit anyway as well as the penalty fee for the check that bounced.

yikes, well mine should not bounce because the funds are there. It is just a matter of my bank not allowing the payment.

Stopping payment still equals a bounced check to the payee.

I had a conversation about this with my mother a while ago, because she is a treasurer for a non-profit and handles things when checks bounce. They recently had a situation where someone put a stop payment on a check. She looked up the laws, and found for California, you must be engaged in a "good faith dispute" to stop payment on a check. This means that the payee has not delivered services as agreed, and you have notified the payee of the problem and attempted to resolve it. In the absence of a good faith dispute, you can be sued for the face of the check, damages, and fees.

From the lawbook:

(6) As used in this subdivision, to "pass a check on insufficient
funds" means to make, utter, draw, or deliver any check, draft, or
order for the payment of money upon any bank, depository, person,
firm, or corporation that refuses to honor the check, draft, or order
for any of the following reasons:
(A) Lack of funds or credit in the account to pay the check.
(B) The person who wrote the check does not have an account with
the drawee.
(C) The person who wrote the check instructed the drawee to stop
payment on the check.
(b) For purposes of this section, in the case of a stop payment,
the existence of a "good faith dispute" shall be determined by the
trier of fact. A "good faith dispute" is one in which the court
finds that the drawer had a reasonable belief of his or her legal
entitlement to withhold payment. Grounds for the entitlement
include, but are not limited to, the following: services were not
rendered, goods were not delivered, goods or services purchased are
faulty, not as promised, or otherwise unsatisfactory, or there was an
overcharge.

Source: CA Civil Code 1719 (http://www.leginfo.ca.gov/cgi-bin/displaycode?section=civ&group=01001-02000&file=1708-1725)

So for a $2000 deposit you're looking at:

$2000 original value
$25 bank fee
$1500 damages
$5 mailing costs
total $3530 (plus any fees you paid to your bank to stop the payment in the first place)

My guess would be with a larger deposit the school is more likely to go after the funds.
 
how is that unethical

How is that unethical?

I don't know, maybe because you sign a statement saying that you acknowledge that the deposit is non-refundable? Don't keep the school in the dark because it's better to let them know that you've put a stop payment on your check instead of having them try to cash your useless check.
 
I don't know, maybe because you sign a statement saying that you acknowledge that the deposit is non-refundable?


Couldn't have said it any better. If you weren't willing to give up the $2000, you shouldn't have sent in the deposit. Your sending it in was a good faith payment to hold a seat for you, not so that you could change your mind a week later.

I wish schools would demand the deposit be paid with a credit card so that these things couldn't happen...
 
I wish schools would demand the deposit be paid with a credit card so that these things couldn't happen...
People will call their credit card company to dispute the charge. The only way to stop this behavior is to ask for the payment in money order/cashier's check only.
 
I gave mine in a money order. I wouldn't have stopped payment even if it was a check though. It just seems not right because I knew before I sent it that it was nonrefundable.
 
In my opinion, it is unethical to stop payment on a check, even if it hasn't been cashed, for a deposit for a pharmacy school. This is in large part because you sign the statement saying you'll attend the school and that the deposit is non-refundable.

However, I also think a $2000 deposit is a bit steep. $100-$200 should be more than enough (especially this early in the game). But that's for another thread.

Maybe a better approach for other people in the same boat as the o.p. is to call the school, nicely say you changed your mind, and ask them not to cash the check, if they haven't already done so. However, be prepared for them to say no and kiss that money goodbye (it still is probably cheaper than waiting another year to apply and having new application fees/travel expenses to deal with).
 
I am going to contact the school Monday and let them know of the situation because I do agree that is the right thing to do. I doubt a pharmacy school is going to try and screw me because of it. The way I see it, stop payments exist for a reason. Look at it this way, somone else will now get my spot instead of my letting them know maybe only a month or so before that I am not going to attend. I do feel bad about it and like the school, but 2000 is a lot of money and an outrageous deposit in my eyes. They have not cashed it yet and, as a result, I am going to try and keep my hard earned money (no, not mommy's and daddy's, MINE). If in the end, I loose the money, then that is OK. However, if I know I am going to attend elsewhere then why not try to get my money back while the opportunity presents itself.

STOPPING PAYMENT ON THE CHECK IS REALLY NO WORSE THAN ALSO CHECKING THE BOX THAT YOU WILL ATTEND A CERTAIN SCHOOL AND THEN LATER GOING TO ANOTHER SCHOOL. THINK ABOUT IT! (esp. those who think this is unethical, but have also accepted multiple offers)
 
I gave mine in a money order. I wouldn't have stopped payment even if it was a check though. It just seems not right because I knew before I sent it that it was nonrefundable.


I do not want to pick fights, but what if you get into your top choice? I am sure you will then turn down the offer you have already accepted. I do not see how that is any different than me doing the same thing. Only difference is that I still have a chance to hold onto my money.
 
spare the "unethical" statements..it's 2k we're talking about..stop the check and get your money back..the school isn't going to lose anything..I would do the same thing
 
1) you signed a form acknowledging it's non-refundable
2) what's the problem here?

be prepared to deal with the consequences of putting in a stop payment on something that is contractually agreed upon.

To those that bitch/moan about the deposit...simple, don't turn it in! No one is forcing you to be bound to the terms of the contract.

Some of you are stupid, goodness.
 
I personally wouldn't do it. It shows a lack of ethics and reflects that the person could not be trusted on his words/deeds -- this are essential qualities of a pharmacist. Also, consider those $2K an insurance you bought, in case your #1 choice fell though. We don't ask our insurance money back, do we? :p

The school offered admission in good faith. The terms for deposit were clearly spelled out, and you were given the option to accept or decline. Don't abuse the good faith other people offered you. We are not used car salesmen. If the patients are to put their faith in pharmacists, they need to know that we are not the kind of people who go back on our words, or will do thing for $ to their detriment.

Talk to the school and plead nicely for your case. They may very well let you off the hook. You should be happy that you got into multiple school, and consider that $2 as a good insurance buy. Regardless, keep in mind $2K isn't a huge chunk of money in the grand scheme of attending pharmacy school.
 
I personally wouldn't do it. It shows a lack of ethics and reflects that the person could not be trusted on his words/deeds -- this are essential qualities of a pharmacist. Also, consider those $2K an insurance you bought, in case your #1 choice fell though. We don't ask our insurance money back, do we? :p

The school offered admission in good faith. The terms for deposit were clearly spelled out, and you were given the option to accept or decline. Don't abuse the good faith other people offered you. We are not used car salesmen. If the patients are to put their faith in pharmacists, they need to know that we are not the kind of people who go back on our words, or will do thing for $ to their detriment.

Talk to the school and plead nicely for your case. They may very well let you off the hook. You should be happy that you got into multiple school, and consider that $2 as a good insurance buy. Regardless, keep in mind $2K isn't a huge chunk of money in the grand scheme of attending pharmacy school.

Not abiding by a contract is a law dispute - not an ethical dispute. There should be a distinction made between law and ethics because they don't always agree with each other. Thinking in terms of black and white is such a regressive idea especially when you ignore other confounding factors and grey areas.

I don't think it's a negative reflection on someone who tries to get their deposit back as long they talk it out with the school and they said it's okay. No one really loses money if the deposit is returned to the student because the school will just replace them with someone else. If the school keeps the deposit, they will get more money from the student replacing the spot and the student loses.

Maybe 2K is not a huge chunk of money to you but the OP does. Most importantly, it's the OP's money and therefore it's the OP's choice on how valuable it is.

In my case, my admissions director was really nice and he understood my situation. It would have been stupid to not accept my check back because the admissions director was nice enough to give it back me.




On another note, if you can dispute to get a check back from a school and another person can't because they refuse to, then who's really the stupid one?
 
I do not want to pick fights, but what if you get into your top choice? I am sure you will then turn down the offer you have already accepted. I do not see how that is any different than me doing the same thing. Only difference is that I still have a chance to hold onto my money.

You're entitled to do what you want. I'm not here to judge or tell adults what's ethical and unethical. I was just stating for myself that I wouldn't feel right by stopping the payment because I signed an agreement, and I knew before I sent it that it was nonrefundable. If I got into my top choice, I'll withdraw from that school and be out of $2000.

Also, you already seem to feel that there was nothing wrong with what you did, so why start a thread asking people's opinion if you don't like what they have to say?
 
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I don't think anyone here would have a problem with calling first and asking to be let out of your contract. The whole issue here is the manner in whichbyou have handled things.
 
Not abiding by a contract is a law dispute - not an ethical dispute. There should be a distinction made between law and ethics because they don't always agree with each other. Thinking in terms of black and white is such a regressive idea especially when you ignore other confounding factors and grey areas.

I don't think it's a negative reflection on someone who tries to get their deposit back as long they talk it out with the school and they said it's okay. No one really loses money if the deposit is returned to the student because the school will just replace them with someone else. If the school keeps the deposit, they will get more money from the student replacing the spot and the student loses.

Maybe 2K is not a huge chunk of money to you but the OP does. Most importantly, it's the OP's money and therefore it's the OP's choice on how valuable it is.

In my case, my admissions director was really nice and he understood my situation. It would have been stupid to not accept my check back because the admissions director was nice enough to give it back me.




On another note, if you can dispute to get a check back from a school and another person can't because they refuse to, then who's really the stupid one?

Abiding by a contract is both a legal as well as an ethical dispute. To unilaterally violate a contract agreed in good faith in full disclosure is reflective of the trustworthiness of a person. That's the ethical component. The legal component is if he puts a stop payment on the check, the school has the right to take him to small claims court for money owed to them by the term of contract, and if so they will certainly win the case.

Also, please read my post, as I did tell the OP to ask the school for money back, just not to stop payment unilaterally.
 
This exact thread was made last year, so if you want some more opinions here it is.
http://forums.studentdoctor.net/showthread.php?t=501169

There's a lot of different opinions both ways, so it's up to what you feel is the right decision. I personally think it is wrong since you knew the rules of sending that deposit. Secondly, don't burn any bridges.

Agreed. The rules are set and we play the game. If you bought a bunch of shares for some corporation that fell by 90% overnight, would you demand "backsies"?

We have to question why people create these threads in the first place. Obviously they know they aren't playing the game properly, and they seek reassurance from others to justify what they have done.

I personally would not do business with someone who canceled a check on a deposit like that. As others have said, you should have just contacted the school first, they most likely would have worked with you.
 
The fact that to reserve your seat in class costs $2000 is unethical. I had the same situation and cancelled the check. You crazy I'm not about to just give my money away.
 
Also, you already seem to feel that there was nothing wrong with what you did, so why start a thread asking people's opinion if you don't like what they have to say?


The real reason I started this thread was to ask about the process of stopping a check. I was not really concerned with the "ethics" behind it. I have never done a stop payment and do not know it works. I am contacting the school and will let them know the situation. Should they insist upon having my money, I will personally hand them the cash and will let it go. It was a tough choice, but no ones life is at risk here and the stop payment has been done. Another applicant will now find out much sooner that he/she is accepted rather than me leading a school on for several months.
 
The real reason I started this thread was to ask about the process of stopping a check. I was not really concerned with the "ethics" behind it. I have never done a stop payment and do not know it works. I am contacting the school and will let them know the situation. Should they insist upon having my money, I will personally hand them the cash and will let it go. It was a tough choice, but no ones life is at risk here and the stop payment has been done. Another applicant will now find out much sooner that he/she is accepted rather than me leading a school on for several months.

Ok, well your original post didn't ask how to stop a check. It asked for people's thoughts on stopping a check. :)
 
The fact that to reserve your seat in class costs $2000 is unethical. I had the same situation and cancelled the check. You crazy I'm not about to just give my money away.

So you never buy insurance then? If you don't end up using your $2K health or car insurance, do you just go and take your money back? LOL :rolleyes:
 
Ok, well your original post didn't ask how to stop a check. It asked for people's thoughts on stopping a check. :)


Well, by thoughts I should have said what were people's past experiences with it. Anyhow, this topic is clearly a grey area, I admit that, and the topic seems to be split 50/50. But, this does not mean only one side is wrong or right. I can guarantee all of us who have posted in this thread have vastly different situations in terms of finances, family concerns, acceptances, etc, thus, it is hard to compare the factors behind such a decision.

It is a rare opporunity that this kind of thing would even occur because you have to have at least 2 acceptances and find out from your top choice shortly after sending the deposit to the other school.

As for me, I am truthfully letting the school know my situation and that I will peacefully resolve the issue with them should it be a huge deal. I am not going to go there even if they did keep my 2000, so I might as well let them know now rather than later.
 
Well, by thoughts I should have said what were people's past experiences with it. Anyhow, this topic is clearly a grey area, I admit that, and the topic seems to be split 50/50. But, this does not mean only one side is wrong or right. I can guarantee all of us who have posted in this thread have vastly different situations in terms of finances, family concerns, acceptances, etc, thus, it is hard to compare the factors behind such a decision.

It is a rare opporunity that this kind of thing would even occur because you have to have at least 2 acceptances and find out from your top choice shortly after sending the deposit to the other school.

As for me, I am truthfully letting the school know my situation and that I will peacefully resolve the issue with them should it be a huge deal. I am not going to go there even if they did keep my 2000, so I might as well let them know now rather than later.

:thumbup:

OP just got some my nod, for whatever that's worth. :)
 
How about sending the deposit but not signing it. They might not be able to cash it, and this could buy you some time?
 
The real reason I started this thread was to ask about the process of stopping a check. I was not really concerned with the "ethics" behind it. I have never done a stop payment and do not know it works. I am contacting the school and will let them know the situation. Should they insist upon having my money, I will personally hand them the cash and will let it go. It was a tough choice, but no ones life is at risk here and the stop payment has been done. Another applicant will now find out much sooner that he/she is accepted rather than me leading a school on for several months.

I don't see what stopping the check has to do with another applicant getting a seat sooner. Proper etiquette calls for you notifying the school when you decide you don't want to go.
 
How about sending the deposit but not signing it. They might not be able to cash it, and this could buy you some time?

Hmm. I would think the school would contact you and tell you that you need to send in a signed check immediately or forfeit your spot. If they wanted to be mean about it, I think they could not hold your spot since you didn't do as asked even though you made a "mistake".
 
On 2/25 I wrote a $2000 check for a pharmacy school deposit that was due on 2/27. The school still has the check and has not cashed it according to my bank account. This week I found out that I got into my 1st choice so I just put a stop payment on the check. What do you all think? It was definitely a hard choice.
Stop the payment and go with your #1

Btw, congrats!
 
This is actually an issue I was talking to one of my friends about who is applying to grad school. The pharmacy school application system is awful because none of the schools are on the same schedule and it's all just a guessing game as to when we will get in, who off the wait list gets in, etc. I would definetly stop payment if I were you!
2000 is way too much for a deposit... just to be nosy, was it Touro? I think they have really high deposits and it's ridiculous. As if these pharmacy schools weren't getting enough money out of us in the long run...
Good luck getting your money!
 
This is actually an issue I was talking to one of my friends about who is applying to grad school. The pharmacy school application system is awful because none of the schools are on the same schedule and it's all just a guessing game as to when we will get in, who off the wait list gets in, etc. I would definetly stop payment if I were you!
2000 is way too much for a deposit... just to be nosy, was it Touro? I think they have really high deposits and it's ridiculous. As if these pharmacy schools weren't getting enough money out of us in the long run...
Good luck getting your money!
I agree that $2000 is excessive to put down as a deposit but no one forced Pharmist to pay the deposit to hold his/her seat. I find it rather amusing that some of you people are encouraging others to this type of behavior and saying it's okay to dishonor the contract that they just signed. I actually held students entering the healthcare profession to a higher ethical standard but apparently, I made a mistake.

Sure, put a stop payment and have the check bounce when the school tries to cash it but don't be surprised when you're sued for the original amount + damages at a later date. I'm surprised schools haven't gone with money order/cashier's check only but maybe they, too, held students entering the healthcare profession to a higher ethical standard.
 
Can I Sue a Person Who Placed a Stop Payment on a Check I Tried to Cash?
Usually, if a check you cashed was returned because a stop payment was placed on it, you may take legal action. For your lawsuit to be successful, you must show that the person who issued the stop payment acted in bad faith. Usually you can sue for the amount of the check plus damages up to three times the amount of the check.

I Am Being Sued for Placing a Stop Payment
If you are being sued for having ordered a stop payment, you will need to show that when you stopped payment, you did so in good faith. An example of a good faith stop payment would be that you were not satisfied with a service you received.

Hopefully "backsies" counts as stopping the payment in good faith.
 
I agree that $2000 is excessive to put down as a deposit but no one forced Pharmist to pay the deposit to hold his/her seat. I find it rather amusing that some of you people are encouraging others to this type of behavior and saying it's okay to dishonor the contract that they just signed. I actually held students entering the healthcare profession to a higher ethical standard but apparently, I made a mistake.

I know right, like I said, a bunch of the people posting here are just plain stupid. I mean, what kind of idiot socialist says $2k is too much for a deposit, and proceeds to pay for it? If it's too much, why did you pay it? If you paid it, clearly it's where the market met your need. I'm tired of this "woe is me" crap...yes, $2k is a lot, but don't bitch/moan because it's too high or that you can't get it back.

I think my school requires a deposit by certified/cashier's check, very smart. I'm surprised all schools haven't done this already. This is going to be a dead issue within the next few years.

And CC deposit would work, in theory. So long as the school can produce a signature showing that the card holder understands it to be a non-refundable retainer. In practice, the CC fees would be too high, and there'd be no appreciable benefit to the school...students will pay by cashier's check if you tell them to.
 
Hi OP,
If youre still wondering how to make a stop-payment, you just have to go to your bank or call them up, and request for a stop payment. Make sure you have your:

  • account number,
  • Check number,
  • Date check was written,
  • payee (who check was written to)
  • amount of the check
  • Reason for stopping payment
Best of luck! and dont worry about peoples opinions or jabs, youre doing this for yourself, not for them. And if youre stuck with a law suit (unlikely), get an attorney. Congrats on the top choice, and yes it is proper etiquette to inform your second choice.
 
I had a similar situation but it was regarding the application fee. I sent in the application supplemental and fee to the fee payment address to UCSF,when it should have been a different address for each. I called up admissions to find out how that would affect my application. I was told it could affect my application. I called up my bank to cancel my check, thinking I have no chance of getting into the top and most competitive pharmacy school in the US because of this simple mistake. Is this unethical? From viewing some posts in other threads, I heard that they did not even look at your application if you sent both the supplemental and fee to the fee payment address. In this case, they shouldn't even cash out the checks, because they didn't even review the application.
 
I've never place a stop on a check before, so if what the previous poster has said is accurate, did you inform the bank that the reason you stopped the payment was because you wished to break your contract?

Also, a lawyer will not be of much service to the OP. He can't even afford to lose the $2000 he was reluctant to give away. What makes you think he can afford the attorney fees? Oh wait, I know what he would do about the attorney fees...
 
I've never place a stop on a check before, so if what the previous poster has said is accurate, did you inform the bank that the reason you stopped the payment was because you wished to break your contract?

Also, a lawyer will not be of much service to the OP. He can't even afford to lose the $2000 he was reluctant to give away. What makes you think he can afford the attorney fees? Oh wait, I know what he would do about the attorney fees...

I had to chuckle at this. :laugh:
 
Put the lawyer talk out of here. The school has yet to cash my check and is being warned what happened. I made it clear that if it is going to be a big deal I will just send them the money again and let it be. It's really an issue between me and the admissions coordinator.
 
Put the lawyer talk out of here. The school has yet to cash my check and is being warned what happened. I made it clear that if it is going to be a big deal I will just send them the money again and let it be. It's really an issue between me and the admissions coordinator.

If I'm correct, some schools will let you have your total deposit back if you notify them within 3 days, some of your deposit back if within 30 days....Ask your school about this.....

I don't see any big deal in this at all at least from my point of view. If you can cancel before they cash out the check, then power to you. What can they do to you? Not grant you admission? :laugh: But wait you don't want to go there anyways.
 
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