# A "STOP" was put on my Credit Union A/C, What does this expression mean?



## pudds (13 Mar 2012)

Never heard of the expression before, so what exactly does this mean.


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## dewdrop (13 Mar 2012)

as far as i know no withdrawals automatically allowed.


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## Slim (13 Mar 2012)

pudds said:


> Never heard of the expression before, so what exactly does this mean.


 
It suggests to me that you have a situation where;
(1) You have taken out a loan and your shares are security for same OR
(2) you are in default of a loan repayment and may not withdraw any further savings until things are sorted out Or 
(3) You are a guarantor for another borrower and you may not reduce your savings below a certain amount OR
(4) You are guarantor for another borrower and they are in default

Your credit union should explain the reason to you. Slim


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## pudds (13 Mar 2012)

As I knew it was none of the above and that my account was in credit I was bit taken back having to go away and return with photo i.d. even though I had a photo copy of driver's licence.

It seems as the account was dormaint for a awhile that a stop was put on it.

Would have only been for approx 2/2.5yrs but I guess coupled with the fact they had no photo i.d. on file for me that this was in my interests also.


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## Slim (14 Mar 2012)

pudds said:


> As I knew it was none of the above and that my account was in credit I was bit taken back having to go away and return with photo i.d. even though I had a photo copy of driver's licence.
> 
> It seems as the account was dormaint for a awhile that a stop was put on it.
> 
> Would have only been for approx 2/2.5yrs but I guess coupled with the fact they had no photo i.d. on file for me that this was in my interests also.


 Ah! Hadn't thought of that. Yes, very particular about these things nowadays. Glad it was none of the above!


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