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Automatic payments from your bank account can be a convenient way to pay your bills and subscription charges on time. But the day may come when you need to know how to stop automatic payments on a debit card. This could involve changing your account settings, revoking authorization, or contacting your bank.

Canceling your automatic payments with certain vendors and financial institutions can occasionally be a hassle. And sometimes, if you’re not paying attention, months can go by without you realizing that recurring fees are still being deducted from your account.

Here, you’ll learn four effective ways to stop automatic payments when the time comes to do so.

4 Ways to Stop Automatic Payments

If you’re someone who tends to forget to pay bills in a timely manner, automatic payments attached to your debit card can be a financial lifesaver.

Automatic transfers or ACHs (automatic clearing house) can transfer money from your checking account on a specific date to a business, without any checks being written or credit card interest charges being incurred. This method can be used to cover a myriad of life’s expenses, including the cost of a gym membership, cell phone bills, and your favorite streaming services.

But there are some downsides to automatic payments being applied via your debit card. Maybe you accidentally signed up for recurring payments? Perhaps that monthly shipment of protein shakes was initially exciting, but now you’re sick of drinking strawberry-flavored liquids for lunch. Nobody wants to get stuck paying for something they don’t want.

If you want to keep autopay withdrawals from happening, you’ll need to know how to stop recurring debit card payments. Failure to do so can result in a drain on your bank account, and your sanity.

Federal law grants you the right to cancel an automatic debit card payment, or stop ACH payments, even if you previously permitted them. There are generally no fees or penalties for canceling an automatic payment preference.

Here are 4 tips on how to cancel an automatic payment.

1. Turning Off Automatic Payments in Your Account

These days, most utility companies and vendors invite you to automate your finances. When you create an online account, they will encourage you to sign up for automatic payments. This makes it more likely that they will receive your money in a timely fashion and it may allow them to cut down on monthly billing efforts. It also can make it easier for you to stop an automatic payment.

Your automatic payments can usually be set up and terminated simply by switching an option in your settings. Sign in with your username and password and select “opt out of automatic payments” in your personal account. This action is typically performed in the “billing and payment” section in the site menu. If you need help, a customer service representative can often guide you via online chat or over the phone.

Once you’ve turned off your automatic payment feature, it might be wise to document the event. Take a picture of a confirmation message and note the date.

2. Revoking Authorization from Companies

If you can’t turn off your autopay option through an online account, you may have to contact the company directly and revoke the automatic payment authorization. Some vendors will email or mail you what’s known as a “Revoke Authorization” form.

Once you’ve received the Revocation of Authorization form, fill it out, and keep a copy for yourself before emailing or mailing it back. That way, if the automatic payment charges continue, you’ll have evidence of cancellation to show to your banking institution.

3. Calling Your Bank or Credit Union

Another way to stop automatic payments from your debit card is to contact your bank directly. They may ask you to pen a letter to formally revoke authorization, stating that the company and dollar amount is no longer allowed to be electronically debited from your checking account.

Your bank may also have a Revoking Authorization form you can fill out online or in person. Once the form has been processed, any further attempt by the company to withdraw funds can be dealt with by your bank.

4. Issuing a Stop Payment Order

Instead of filing a form to revoke authorization, you could issue a stop payment order. A stop payment order gives your bank or credit union permission to block a company or vendor from taking money from your account. This process could be done over the phone, in an email, or in person. Some banks may charge a fee for this service.

Keeping an Eye On Your Bank Account

It is possible, even after taking actions to cancel your automatic payments, that you may still see funds being withdrawn from your bank account. While this is frustrating, you may have to contact the vendor or your bank a second time. It’s a good idea to frequently check your bank account to be sure the automatic payments have stopped. Regular check-ins can be part of managing your checking account in a big-picture way too.

Dealing with Unauthorized Automatic Payments

Paying attention to your bank account can also help keep your online accounts safe. Your bank may even alert you to fraudulent charges — automatic payments being made without your consent for things you never signed up for.

Should You Consider Closing a Bank Account?

It’s good to know how to cancel all automatic payments that seem suspicious. One surefire way to avoid recurring fraudulent charges is to close your bank account completely. But this is a drastic measure that could cost you more time and fees.

Instead, contact your bank or credit union. In many cases, they will credit you for the false debit, block the vendor from making future attempts, and suggest further security measures.

Recommended: How to Switch Banks

Should You Cancel Your Debit Card?

If a company keeps making erroneous or unauthorized automatic payments, one way to put a stop to it is to cancel your debit card and receive a new one. In the cases of fraudulent charges by an unknown vendor, your bank will strongly suggest this in order to protect you.

Knowing When to Give Bank Authorization

In order to effectively stop an automatic payment before it happens, be sure and issue the Revoke Authorization form or stop payment order at least three business days before the automatic payment is due, to give your bank time to process the request.

Remember, stopping an automatic payment doesn’t mean you don’t owe money for products received or services rendered. You’ll have to cancel the service agreement completely, or be on top of paying what you owe by the due date through online payments, mailing a check, or other arrangements.]

The Takeaway

Automatic payments from your checking account are a simple and popular way to pay what you owe on time. They can help you avoid late fees and a trip to the mailbox. If you have an online account, you can discontinue an auto payment with only a few clicks. In most cases contacting the company or vendor directly can also get the job done, or you can ask your bank for help. No one can force you to continue automatic payments against your will, and the control of your bank account is in your hands.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How much does it cost to stop an automatic payment?

There are typically no fees when you stop an automatic payment option in your online account or if you do so by contacting a vendor directly. However, a bank might charge a processing fee for issuing a stop payment request.

What happens if you close a bank account with automatic payments?

If you close a bank account, companies and vendors will no longer be able to automatically deduct monthly payments tied to that account. You will have to make other arrangements to pay what you owe or discontinue any service agreements.

Will getting a new debit card stop recurring payments?

Yes. A new debit card comes with a new number. You will have to contact companies with your new card information to continue automatic payments.

Photo credit: iStock/vorDa
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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There are unfortunately many things in life that can rock a person’s financial stability, ranging from divorce to a devastating flood. Situational poverty is a type of poverty that occurs due to a sudden change in circumstances such as a major life event or natural disaster.

If you’re in the grip of a situation like this, it can feel impossible to get back on your feet. But it is indeed possible to overcome situational poverty. Using a variety of techniques, it’s often possible for people to pull themselves out of a difficult and painful moment. Here’s a closer look at what causes situational poverty and how to break out of a poverty cycle once it starts.

What Is Situational Poverty?

Situational poverty is a type of poverty that is the result of a sudden or severe crisis. It usually has a specific cause or triggering event, and the financial difficulties may be only temporary. Those in situational poverty may have ways to steadily improve their finances.

This is in contrast to generational poverty, where at least two generations of a family are born into poverty. In this case, poverty is largely the result of circumstance; people don’t have the knowledge or skills to escape poverty, so often their finances do not improve.

Reasons for Situational Poverty

Situational poverty is often the result of a sudden or severe crisis in a person’s life. While there are many events that may lead to situational poverty, they are often temporary. Here’s a look at some of the triggers that can cause this sort of disadvantaged scenario.

Being Born Into a Disadvantaged Background

Being born into a disadvantaged background can contribute to situational poverty; it can also be a factor in generational poverty, which requires at least two generations to be born into poverty.

In terms of situational poverty, if you were born into poor circumstances, even if your parents had been wealthier earlier in their life, it may still be difficult for you to get ahead financially. You might face issues like lack of access to medical care and educational resources. You don’t get that boost into financially stable adulthood that some people do.

Making Bad Financial Decisions

When you are grappling with poverty, you may wonder, why am I so bad with money? But it’s not uncommon for people to make a series of unwise money moves and wind up in poverty as a result. Perhaps you made a bad investment or took on a large debt (say, a mortgage) that you couldn’t keep up with. Or maybe you poured all your savings into a business idea that didn’t succeed. Sadly, these things happen every day. In some cases, the consequences of these sorts of decisions can trigger situational poverty.

Experiencing a Tragedy

It’s painful to think about it, but there are many types of tragedies that can send a person’s finances into a downward spiral. For instance, you might lose your house in a hurricane or your spouse (with whom you share your finances) might die unexpectedly. These events can leave a person without the means to live above the poverty line.

Lack of Good Education

Education is a path out of poverty, and sadly, the inverse is also true: Not getting a solid education can lead to a person not succeeding financially. They may lack the skills to earn higher wages.

Lack of financial education, such as the importance of an emergency fund and how to manage your finances, can also result in or contribute to situational poverty. Unfortunately, many U.S. high schools don’t require personal finance education as a graduation requirement. As a result, many people enter adulthood without basic financial skills like how to open a new bank account, set up a basic budget, and avoid “bad” debts.

Tips for Breaking the Vicious Cycle of Poverty

The scenarios above reveal some of the ways that a person can slip into poverty. Once you’re in that situation and possibly struggling to pay bills, however, it can feel impossible to climb your way out. Fortunately, there are several paths that may help you rise up and get on better financial footing. Here, some ideas for how to get out of situational poverty.

1. Getting a Sound Education

A good education — and specifically a good financial education — is one of the first steps toward getting out of poverty. While financial education classes in school are ideal, you can still learn the basics on your own, even as an adult. For example, the FDIC’s How Money Smart Are You? can help you learn the basics. Many universities and organizations also have personal finance courses for adults. You can also find free educational materials online that can help boost your financial IQ and guide you towards making money-smart choices.

2. Having a Close Mentor

Having a great mentor is one of the best ways to get a leg up in life, and the same applies to escaping situational poverty. A career mentor can help you gain the skills and experience you need to find (or find a better) job, while a financial mentor can help you learn how to budget, save, and ultimately break the cycle of poverty.

It can take some searching but you may be able to find a mentor where you work or by networking with friends, family members, and neighbors. People who have achieved success and escaped poverty themselves are often happy to give back by helping others in the community.

3. Working With Well-Informed Organizations

Another way to improve your financial literacy and learn how to overcome situational poverty is to work with trusted organizations. There are a number of nonprofit groups that specialize in different aspects of personal finance that could be holding you back. For example, the National Foundation for Credit Counseling (NFCC) helps people who are saddled by large amounts of debt. Operation Hope provides financial education to underserved communities, while Accion is a nonprofit that is focused on bringing financial technology and tools to underserved communities.

4. Utilizing Community and Government Resources

There is no shortage of community and government resources that can help if you are experiencing situational poverty. Churches, schools, community centers, and public libraries can offer support within your community.

Beyond your community, there are extensive government resources that can also help. For example, you might qualify for benefits like SNAP (Supplemental Nutrition Assistance Program) or the child tax credit. There are dozens of government programs that use poverty as a qualifying criterion. The U.S. Department of Health & Human Services (HHS) has a list of programs on its website.

5. Changing Your Money Mindset

Your mindset can hold you back just as much as it can empower you. It’s worthwhile to try to improve your money mindset. Something that is important to remember is that situational poverty is often temporary.

This is especially true if a bad financial decision or a natural disaster was a major contributor to your lack of funds. These are passing, albeit difficult, moments. By leveraging some of the resources mentioned in this article and practicing financial self-care, you can make progress.

6. Setting Financial Goals

Setting financial goals is important whether you are experiencing poverty or not. But it is even more important when you are hoping to build up your financial resources. Money goals can help you work toward something specific. Consider taking some time to map out what steps you want to take to move through your situational poverty. Some common goals are developing a budget with positive cash flow and paying down high-interest credit card debt.

7. Cutting Expenses and Spending Wisely

One aspect of budgeting that can help you pull yourself out of a tough financial spot is cutting any nonessential expenses, and then funneling that money towards your goals, such as paying down debt (more on that below) or taking a class to learn a skill that can help you get a promotion or a higher-paying job.

To “find” money, it can help to look at your current expenses and see where you may be able to trim back. For example, if you have any streaming services, you might pause them until you have your finances in order. Or if you have a cell phone plan, you might switch to a prepaid plan so you aren’t being charged automatically and can take control of your spending. You might also negotiate lower interest rates by calling your credit card issuer; this tactic may yield rewards.

8. Paying Down Your Debt

If you have large amounts of debt, you’ll want to prioritize paying down those with the highest interest rates first. You might look into a balance transfer credit card, which may give you no or low interest for a period of time. That can help you whittle down debt as it gives you some breathing room from a high annual percentage rate (APR). If you can qualify for a low rate on a personal loan, you may use it to consolidate your debt. Working with a non-profit credit counseling organization is another option to help you manage this common aspect of poverty.

Recommended: What is the Average Credit Card Interest Rate?

9. Avoiding Payday and Predatory Loans

Payday loans offer cash advances before payday to those who need cash quickly, but this money infusion can really cost you. These loans typically have extremely high interest rates. Even with state laws limiting fees to no more than $30 per $100 borrowed, you could still end up paying the equivalent of 400% interest or more. And if you are unable to pay back a payday loan, you may end up in a debt cycle that can be difficult to break out of.

10. Making Saving a Priority

Saving is generally always smart, but situational poverty can highlight its importance. When you’re financially vulnerable, any expense you aren’t expecting could really rock your situation. A big medical or car repair bill could be a huge problem.

Even if you don’t have the means to put much aside, even a small contribution to savings each month can slowly but surely add up to a solid cash cushion over time, especially if you put the funds in a savings account that pays a competitive rate, such as a high-yield savings account. This allows your money to grow just by sitting in the bank. As your finances improve, you can gradually increase how much you siphon off into savings each month.

11. Finding Out Where You Stand

Finding out where you stand can be a powerful exercise. We tend to be our own biggest critics, and that applies to finances, too. When you take a look at the numbers (go ahead and really study your income, cash outflow, assets, and debt), you might find you are doing better than you think.

Granted, this may not be the case when you first find yourself in situational poverty. But as you start to work on things, you might find your debt declining. Or that your savings by age is better than you expect. That can give you the confidence boost you need to keep exercising good financial habits and continue to improve your situation.

Also, even if you are in the midst of situational poverty and your status isn’t great, you will at least know exactly where you are. That benchmark will be what you build from.

The Takeaway

Situational poverty is a type of poverty typically caused by a life event, such as a divorce, severe health problems (and the resulting bills), or a natural disaster. This type of poverty is usually temporary and can often be overcome by boosting your financial education, accessing community and government resources, and prioritizing debt elimination and saving.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How can I overcome a poverty mindset?

Overcoming one’s mindset is often a key step to getting out of poverty. Here are some ways to break out of a poverty mindset and feel more empowered:

• Set achievable financial goals and celebrate small victories to build confidence.

• Educate yourself on personal finance through books, courses, and mentors.

• Surround yourself with positive influences and avoid those who reinforce negative stereotypes.

• Practice gratitude to appreciate what you have.

• Cultivate a growth mindset by seeing challenges as opportunities for learning.

How do I know if I am poor or not?

The federal poverty guideline for 2024 for the lower 48 states and D.C. is an annual income of $15,060 or less for an individual. For a couple, poverty is defined as an annual income of $20,440 or less. For a family of four, it’s defined as an income of $31,200 or less.

How many people are in situational poverty?

It is difficult to know exactly how many people live in situational poverty. However, a large number of people live in poverty in general. According to the latest data from the U.S. Census, the official poverty rate is 11.5% of the population, with 37.9 million people living in poverty.

Photo credit: iStock/malerapaso

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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Cashier’s checks and money orders are two forms of currency used to make payments. While there are similarities between the two, there are also significant differences. Cashier’s checks are drawn on a bank account and guaranteed by the financial institution. A money order, on the other hand, is a prepaid financial tool that can be obtained at banks, the post office, or retail businesses.

Depending on your needs, one payment method may be a better choice than the other. Here, learn what distinguishes a money order from a cashier’s check, the way they work, plus the pros and cons of each.

What is a Cashier’s Check?

A cashier’s check, also known as a bank check, is issued by a bank or credit union. You can obtain a cashier’s check by either paying cash upfront or, if you’re a customer of that bank, have the funds drawn from your account.

Because the check is backed by the bank, it’s guaranteed so you don’t have to worry about a bounced check. This is why it’s considered a safe and secure method of payment. Cashier’s checks also clear rather quickly, with some of the funds usually available in one business day.

Cashier’s checks are typically available in smaller and larger amounts, and generally there’s no upper monetary limit. Many people use a cashier’s check for a large purchase or deposit, such as a car, boat, down payment on a home, or a security deposit to a landlord.

Recommended: Where to Cash a Check Without Paying a Fee

How Do Cashier’s Checks Work?

In most cases, you’ll visit your bank in person to do the cashier’s check transaction. Your bank may offer the opportunity to get one through their website, but doing so will take longer since the check will be mailed to you, instead of handed to you.

When you go to the bank, you’ll likely give the bank employee the recipient’s name and the amount of the check. You’ll either purchase the check with cash or have the money debited from a checking or savings account that you have with that particular bank. Cashier’s checks often come with a fee, which usually run about $10 to $20.

Don’t have a bank account? You may be able to get a cashier’s check from a bank where you’re not a customer, but you’ll have to check with the financial institution first. And, if you are able to get a cashier’s check from a bank where you don’t have an account, you’ll have to purchase the cashier’s check with cash.

A credit union may offer you more flexibility if you’re not a customer. Often, credit unions will issue cashier’s checks to members of other credit unions along as their own.

Recommended: Issuing a Stop Payment on a Check

What is a Money Order?

Like a cashier’s check, a money order is a form of paper payment and an acceptable alternative to paying a bill or debt with cash or a check. You can purchase a money order with cash, traveler’s checks, and a credit or debit card. Since a money order is prepaid, unlike a regular check, a money order can’t bounce.

A money order has empty spaces where you’ll need to fill out certain information, similar to writing out a check. Besides the amount being paid and the date the money order is issued, you’ll need to fill out your name and address as well as who is the payee, and then sign your name. In the memo line, you can fill in the reason for payment.

There may be limits on the amount of the money order that’s possible. For example, at a United States post office, a single money order can be no more than $1,000.

You’ll also get a receipt when you purchase a money order which is important to keep safe. With a receipt, you can track your money order and, if the payment is lost or stolen, use it to attempt to recover the funds.

Money orders can be obtained at a number of different places, including post offices, Western Union and similar retail businesses, check-cashing outlets, financial institutions, supermarkets, and convenience stores. Along with paying the face value of the money order, you’ll also have to pay a fee. The amount depends on such specifics as where you obtain the money order, but typically fees don’t exceed $10.

People who want to cash a money order can generally do so at the same places you purchase one. Unless you deposit it into a bank account, be aware that you may be charged a small fee for cashing the money order.

Money Order vs. Cashier’s Check

While both money orders and cashier’s checks are similar in some ways, there are also distinctions between the two. Here’s how the two compare.

Similarities

Both money orders and cashier’s checks are forms of payment that can be used instead of cash or a personal check. Because these are both completely prepaid, a person can cash or deposit a money order and a cashier’s check without worry that either will be declined or returned for insufficient funds.

Money orders and cashier’s checks share the following features:

•   Can both be purchased at a bank or credit union.

•   Prepaid so funds are guaranteed.

•   Provide more privacy for the payer because neither contain a checking account number.

•   Each typically comes with fees.

•   Allow you to trace or track payments.

Differences

Now, consider the ways in which they differ:

•   Cashier’s checks may be available in large sums, while money orders often have limits.

•   Money orders can typically be obtained at more locations than cashier’s checks.

•   Cashier’s checks are guaranteed by the financial institution that issued them; money orders are paid for with cash. Or you could use a debit card, a credit card, or similar payment method.

•   Money orders must usually be purchased in person.

•   The fees on money orders may be lower.

Differences Between a Money Order and a Cashier’s Check

Here, how money orders and cashier’s checks compare in chart form.

Pros and Cons of Cashier’s Checks

Next, take a closer look at the pluses and minuses of cashier’s checks. First, the pros:

•   Available in higher dollar amounts

•   Higher security because it’s guaranteed by a bank

•   May be purchased through a bank’s website.

Next, the cons:

•   Not as widely accessible because you can only obtain at banks or credit unions

•   Harder to get at a bank if you’re not a customer

•   Higher fees than money orders.

Pros and Cons of Money Orders

Here’s a closer look at money orders and their benefits and downsides. First, the pros:

•   Useful for people who don’t have a bank account

•   Can be purchased with cash or another type of payment such as a credit or debit card

•   Lower fees make it less expensive than a cashier’s check

•   More widely and readily available.

And, on the other hand, the cons:

•   Typically can only be purchased up to $1,000

•   Must get them in person

•   May not be able to deposit through mobile banking

•   Can be cashed by anyone if you don’t fill out the ‘payment to’ line.

The Takeaway

Both cashier’s checks and money orders are a form of prepaid payment, which makes the funds guaranteed so you don’t have to worry about a bounced check. Whether you use a money order or a cashier’s check as a payment depends on many factors, including the size of the payment you’re making, if you have a bank account, and the outlet you choose to make the purchase. Taking into the account of the pros and cons of each can help you make the decision of which method is right for you.

FAQ

Are a cashier’s check and a money order the same?

No. While both are prepaid forms of payment and therefore guaranteed not to bounce, a cashier’s check can only be obtained at a bank or credit union, while money orders are more widely available at other venues including post offices, check cashing places, and various retailers. Cashier’s checks are better for large purchases or deposits since there’s no monetary limit, while money orders often have a maximum limit of $1,000.

Why would someone use a money order instead of a cashier’s check?

People who choose to use a money order may not have a bank account, could be paying a bill or a debt less than $1,000, or might want to avoid the higher fees associated with a cashier’s check.

How quickly do money orders and cashier’s checks clear?

In most cases, funds from deposited money orders and cashier’s checks can be available the next business day. If the bank suspects there might be fraud involved, however, it could be several weeks.

Photo credit: iStock/Fly View Productions

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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It can be a good move to keep one to two months’ worth of living expenses in your checking account, plus a buffer of about 30% of that amount.

For some people, that will be a stretch. For others, the preference may be to stash more there. While you may like to see a robust balance in your checking account, you want to have “just enough” on deposit (or enough to meet a minimum balance requirement).

Here’s why: A checking account likely pays very low or no interest, so additional funds are better stowed elsewhere, so your money can grow. Read on to learn more about this topic and how to determine the right amount to keep in your checking account.

What Is a Checking Account?

First things first: A checking account is a type of deposit account that is held at a traditional bank, online bank, or a credit union. It provides a secure spot for your funds (thanks to FDIC or NCUA insurance) and can be the foundation of your daily financial life.

For instance, your paycheck can land there by direct deposit; you can withdraw funds from your account by using an ATM, making a transfer, and more. And you will likely have a debit card that’s linked to the account which allows you to easily spend as you stock up at the supermarket or grab a cold brew.

A few other details to note:

•   Checking accounts typically allow you unlimited transactions, but they probably earn no or very low interest. The average checking account currently earns 0.08% in interest, according to the Fed. It can be wise to consider high-yield checking accounts or premium accounts to see if you can snag a higher return.

•   Some checking accounts are available fee-free, but they may have minimum deposit requirements and some surcharges. It’s wise to read the fine print on an account you currently have or are contemplating opening to know the full story.

If you’re curious how much others keep in their checking accounts, the Federal Reserve’s recent Survey of Consumer Finances (based on 2022 data) found that Americans keep a median balance of $8,000 in their transaction accounts, which include checking and savings accounts, among others. The average amount in checking and other transaction accounts is $62,410, but that number’s pulled up by those with higher net worth.

Factors to Consider

When deciding how much money you should have in a checking account, there’s no one-size-fits-all number. Instead, consider these factors:

Monthly Expenses and Income

To determine how much cash to keep in your checking account, you’ll first want to tally your monthly income and expenses — those two numbers are vital. For example, if you net $8,000 a month in pay and your usual expenses (housing, utilities, food, healthcare, “fun” spending, etc.) are $7,000 a month, you might want to aim for a balance of $10,000 to $15,000 in the account at any time.

This would give you one to two times your monthly expenses, plus a little overage. That overage is important, as it’s your buffer in case your spending were to increase one month (say, a mega dental bill). You don’t want to wind up in overdraft.

If you need help tallying or tweaking your monthly expenses vs. income, there are a variety of budgeting methods that can help you out.

Upcoming Large Expenses

When deciding how much to keep in your checking account, you may want to account for any major expenses coming your way. Perhaps you pay your homeowners insurance annually or your partner’s big birthday is coming right up. You’ll want enough money accessible to cover those.

Savings Goals

On the other hand, you don’t want to let too much cash just sit in your account when it could be working harder for you. You can transfer any excess funds into a savings account where you will likely find much higher interest rates.

For instance, the average savings account has 0.57% interest as of May 2024, which is an improvement over checking’s 0.08%. Also, online-only banks may offer rates in the range of 4.5% for their savings accounts. Higher interest (and more frequent compounding) can help plump up your savings for a summer vacation, new car, or down payment on a house.

In addition, you may want to prioritize stockpiling some money in an emergency fund, which financial experts say should have at least six months’ worth of living expenses in it.

Account Fees and Requirements

As you compare checking accounts, be sure to drill down on account fees and requirements. Fees can nibble away at your money, and there are quite a number that can be assessed. There are account maintenance fees, overdraft fees (at about $35 a pop), out-of-network ATM fees, and more. Read the fine print (or look at your statement if you already have an account) to see where you stand. Then you can make a choice that helps you avoid bank fees.

Also note that there may be requirements for your account, such as keeping a certain amount on deposit or using your debit card a certain amount per month. If you don’t meet the guidelines, you could wind up paying more fees as well.

The Basic Living Expenses Approach

As mentioned above, one popular approach for how much money you should keep in a checking account is to have one to two months’ worth of living expenses on deposit.

Need help calculating that number? Tracking your expenses can be done fairly simply by reviewing a couple of months of your current checking account statements and totaling how much flowed out. Some accounts have a dashboard that make it extra easy to see your spending.

Or you could add up your typical expenses the old-school way, using an online spreadsheet or pencil and paper. You will want to include such costs as housing, transportation, food, utilities, clothing, healthcare, loan payments, credit card payments, dining out, entertainment, streaming services, insurance, and the like.

If your usual expenses were, say, $6,000 a month, you might want to keep somewhere between $8,000 and $14,000 in your checking account.

Recommended: Checking vs. Savings Accounts: A Detailed Comparison

Earning Interest vs. Liquidity

Another way to look at how much money you should keep in your checking account is to balance two financial forces: earning interest and liquidity.

Typically, in order to pay out higher interest, a financial institution needs to feel confident that money will be accessible for them to use for other business purposes. That is why savings accounts, which used to allow only a limited number of transactions per month (incidentally, some banks still enforce this guideline), will pay a higher interest rate.

Similarly, a certificate of deposit (CD) will likely pay more than a checking account, because the customer agrees to keep their funds in the account for a specific period of time.

The other side of the coin is liquidity, meaning that you can access money on demand, without fees or penalties. This is what a checking account excels at. You may not earn much (or any) interest, but you know you can withdraw funds and pay bills from it as often as you like.

For this reason, you probably want to keep just enough cash in checking to pay bills without overdrafting, while moving any additional funds into savings (perhaps earmarked as an emergency fund) to reap a higher interest rate.

Recommended: Checking Account Pros and Cons

Tips for Right-Sizing Your Balance

As you fine-tune the amount of money you keep in your checking account, try these tactics:

Track Spending Closely

You may think you know how much your monthly expenses are, but tracking the exact amount can be a very helpful exercise as you think about your bank account balances. For instance, you may not be accounting for such spending as gifts for friends and family, subscriptions, prescription medications that refill every three months, contact lenses, and charitable donations.

Some banks provide tools to help you track your spending, or there are apps and websites that can give you a fuller picture. As you comb through your spending, you may also find places where you can easily trim some money.

Automate Savings Transfers

One way to make sure you are building your savings is to set up automatic transfers from your checking account to savings. This can be a seamless, no-effort way to make sure money doesn’t just sit in checking.

You might automate your money by having recurring transfers from checking to savings right after you are paid. That can help you avoid spending when you see money piling up in checking, and it moves money to where it can earn interest.

Take Advantage of Personal Finance Apps

As noted above, there are personal finance apps that can help you manage your money. First check your current bank; they may offer helpful tools. There are also paid apps (like YNAB and PocketGuard) available for budgeting, typically for $8 to $15 a month.

Or you might want to take advantage of round-up apps that can help build your savings as you spend. These round up the price of purchases to the next dollar and send the difference into your savings account (or investments) so it can help build your wealth, bit by bit.

The Takeaway

Keeping slightly more than one to two months’ worth of living expenses in your checking account can be a good rule of thumb. Any additional funds can work harder for you when transferred to a savings account, where they can earn interest and help your money grow.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Is too much in checking a bad idea?

While not exactly a bad idea, keeping too much money in your checking account can mean you are missing out on the opportunity to earn interest and help your money grow.

What is the average checking account balance?

The average transaction account balance (which includes checking and savings accounts) is over $62,000, but that skews high due to those who are wealthier. The median figure is $8,000.

What does it mean for money to be liquid?

When money is liquid, that means it can be accessed on demand. For example, cash in the bank is liquid; the equity you have in real estate is not, since it would require effort to secure funds related to that investment.

Photo credit: iStock/JLco – Julia Amaral

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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If you’re wondering, “Can I open a bank account in another country?” the answer is typically yes. Whether you are pursuing life as a digital nomad, studying abroad for a semester or two, or traveling with friends or your significant other for a few months, you’re going to need access to funds.

If you keep your American bank account, you’re likely to face a slew of foreign transaction fees, which can really take their toll on your finances.

Fortunately, opening a bank account in a foreign country is totally possible — and totally legal, as long as you’re not doing so for tax evasion purposes. However, it may take a few more steps than opening a domestic account would. Read on to learn the details.

What is Banking Abroad?

Banking abroad is pretty much exactly what it sounds like: It involves opening a bank account in a country that is not your primary or official country of residence or citizenship.

If you’re an American, this means opening a bank account in any other country, whether it’s Canada or Cambodia. Of course, some countries — such as, famously, Switzerland or the Cayman Islands — are specifically known for what are called offshore bank accounts, thanks to incentives such as high levels of financial privacy and serious deposit protections. These features can and have attracted the attention of high-net-worth individuals over the years.

But opening a foreign bank account isn’t reserved only for the ultra-rich. Regular, everyday individuals may benefit from banking abroad in certain circumstances. If you are wondering if you can open a bank account overseas because you’ll be spending the bulk of your time there, you probably can.

Is Banking Abroad Legal?

Banking abroad is legal if you’re doing so for the right reasons.

Most of us associate banking abroad with nefarious activities like money laundering or tax evasion, which are, of course, illegal — and could result in large fines or even imprisonment.

But if you’re living in or earning legitimate wages in a foreign country, opening an account there is totally legitimate. It’s also likely your best bet for avoiding excessive foreign transaction fees. It will also reduce or eliminate the hassle of having to deal with a customer service team based in a very different time zone.

Some people also open offshore bank accounts for investment purposes. If this interests you, it’s worth enlisting the help of a financial professional to ensure you’re staying above-board. Foreign investments or offshore banking for tax purposes can be quite complex.

How to Legally Bank Abroad

In order to legally open a checking account in a foreign country, you’ll usually need to verify quite a lot of personal information for the bank. This is so all the parties involved can confirm you’re banking in a foreign country for legal reasons and not engaging in illicit activities, such as tax evasion or money laundering. You will probably have to share some details with US officials, too.

So what does all that mean for you as someone interested in opening a foreign bank account?

Paperwork — potentially lots of paperwork, though it may not be that complex.

Recommended: Can You Have Multiple Checking Accounts with One Bank?

Requirements to Open a Bank Account Abroad

The specific documentation you’ll need to provide to open a foreign bank account will depend on a lot of factors. Among the variables that may impact exactly what you’ll need to provide: The specific bank you choose, the regulations of the target country, how much money you’re planning to deposit or hold in the account, and more.

Generally speaking, though, you can plan to provide the following:

•   Proof of identification, such as a passport or driver’s license

•   Proof of residence, such as a utility bill

•   Up to a year of bank statements from your current bank account in the US

•   Paystubs or a statement from your employer

•   Documentation relevant to investments or business transactions, such as sales contracts

Keep in mind that these documents may need to be notarized by a third party or sent through the local consulate for the target country in order to be deemed official. The bank will give you explicit instructions on all required documentation and may also ask for a written statement of purpose for opening the account.

Don’t overlook the home team either. The US government is likely to have its own questions about your activities. If the value of your account abroad will be more than $10,000, you’ll need to file a Report of Foreign Bank and Financial Accounts (FBAR).

Note: Interest earned on monies held in foreign savings accounts are usually still taxable here at home. Always consult with a professional if you have questions about your tax liability.

Pros and Cons of Offshore Banking

So, what are the benefits and drawbacks of offshore banking? When does opening a foreign bank account make sense? Take a closer look.

Pros

First, the upsides of opening a bank account in another country.

•   An offshore bank account can help you avoid foreign transaction fees if you’re living or doing business in a foreign country.

•   Having a bank account in a foreign country you’re living in can also make it easier to perform basic daily banking tasks without having to navigate overseas phone calls.

•   Offshore banking can have some legitimate tax incentives — though in order to take advantage of these legally, you’ll probably need to consult a tax professional.

Cons

Now, the disadvantages:

•   Opening a foreign bank account can be a relatively arduous process, with a lot of paperwork and verification involved.

•   Foreign banking can have unforeseen taxation consequences — for example, interest earned overseas may still be taxable at home.

•   You may need to file additional paperwork with the IRS if your foreign account will be valued at over $10,000.

Here’s how these pros and cons stack up side by side.

The Takeaway

The answer to the question, “Can I open a bank account in a foreign country?” is likely to be a big yes. Gathering and submitting the right documentation may take a while, but it can ease your time abroad tremendously. It can help you spend more time reveling in the local culture than wrangling your personal finances.

If you’re looking for an easy-to-use banking alternative here in the US, consider your options to find the right fit.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What countries allow foreigners to open bank accounts?

Most countries will allow foreign nationals to open a bank account on their shores as long as they can provide proof of legal residence in that country (and other necessary documentation). Some countries make it easier than others to open a foreign bank account, however.

Can I open a bank account in another country without being a citizen?

Yes, but you will likely need to provide extra documentation to verify your identity, place of residence, and the legal purpose of the account.

Photo credit: iStock/MicroStockHub

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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