Common use of Account Type and Ownership Clause in Contracts

Account Type and Ownership. The Account is a transaction account that does not pay interest. The Account may not be opened as a joint account. You cannot give a security interest or pledge your Account to someone other than us without first getting our express written consent. We are not required to give consent to a security interest or pledge to someone else. Unless we agree in a separate writing otherwise, a security interest or pledge to someone else must be satisfied or released before any right to withdraw from the account can be exercised. You must immediately report to us any changes in Account ownership information that you originally provided to us in connection with the submission of your application for an Account. You may designate authorized users to initiate transactions on your behalf or take any action under this Agreement that you may have taken, and any action taken by an authorized user shall be fully binding on you. You may not permit an authorized user to initiate a transfer, payment order or transaction in the absence of proper supervision and safeguards. If you permit another person to have access to the Account, this will be treated as if you authorized such use and you will be liable for all transactions and fees incurred by those persons. You are wholly responsible for the use of the Account according to the terms and conditions of this Agreement. You are liable for all transactions made with the Account by your authorized user(s). You are the Account owner and are responsible for all transactions and fees incurred by you or any authorized user(s). You may terminate the authority of any authorized user at any time by giving us prior notice of termination. To terminate access of an authorized user to the Account, call customer service at 000-000-0000 and you must follow-up not later than ten (10) business days with the written notification to revoke (cancel) permission for any person you previously authorized to use your Account. Until we have received your written notice of such a revocation (cancelation) and have had a reasonable time to act upon the written notification of cancelation, you are responsible for all transactions and fees incurred by you or any authorized user. If you tell us to revoke (cancel) another person’s use of your Account, we may revoke (cancel) your Account credentials. Except as otherwise provided by law, you shall be liable for any loss or damage to which your negligence contributed or which resulted in unauthorized, fraudulent, or dishonest acts by your current and/or former authorized users. Such liability includes instances when a current or former authorized user effects one or more payment orders or transactions or improper use of security procedures to effect a payment order or transaction to your detriment. Notwithstanding anything to the contrary, you are liable for all losses relating to unauthorized funds transfers that do not result solely from our negligence or intentional misconduct, unless the laws governing your account require a lesser liability.

Account Type and Ownership. The Account is a transaction account that does not pay interest, and the Card is a payment access device to your Account that allows you to make certain purchases, payments and transfers to third parties. The Account may not be opened as a joint account. You cannot give a security interest or pledge your Account to someone other than us without first getting our express written consent. We are not required to give consent to a security interest or pledge to someone else. Unless we agree in a separate writing otherwise, otherwise a security interest or pledge to someone else must be satisfied or released before any right to withdraw from the account can be exercised. You must immediately report to us any changes in Account ownership information that you originally provided to us in connection with the submission of your application for an Account. You may designate authorized users to initiate transactions on your behalf or take any action under this Agreement that you may have taken, and any action taken by an authorized user shall be fully binding on you. You may not permit an authorized user to initiate a transfer, payment order or transaction in the absence of proper supervision and safeguards. If you permit another person to have access to the Card or Account, this will be treated as if you authorized such use and you will be liable for all transactions and fees incurred by those persons. You are wholly responsible for the use of the each Card and Account use according to the terms and conditions of this Agreement. You are liable for all transactions made with the Card(s) or Account by your authorized user(s). You are the Account Card owner and are responsible for all transactions and fees incurred by you or any authorized user(s). You may terminate the authority of any authorized user at any time by giving us prior notice of termination. To terminate access of an authorized user to the a Card or Account, call customer service the toll-free number on the back of your Card at 000(000)000-000-0000 0000. or write to xxxxxxx@xxxxxx.xxx and you must follow-up not later than ten (10) business days with the written notification to revoke (cancel) permission for any person you previously authorized to use your Card or Account. Until we have received your written notice of such a revocation (cancelation) and have had a reasonable time to act upon the written notification of cancelation, you are responsible for all transactions and fees incurred by you or any authorized user. If you tell us to revoke (cancel) another person’s use of your Card or Account, we may revoke (cancel) your Card and Account credentials. Except as otherwise provided by law, you shall be liable for any loss or damage to which your negligence contributed or which resulted in unauthorized, fraudulent, or dishonest acts by your current and/or former authorized users. Such liability includes instances when a current or former authorized user effects one or more payment orders or transactions or improper use of security procedures to effect a payment order or transaction to your detriment. Notwithstanding anything to the contrary, you are liable for all losses relating to unauthorized funds transfers that do not result solely from our negligence or intentional misconduct, unless the laws governing your account require requires a lesser liability.

Account Type and Ownership. The Account is a transaction account that does not pay interest, and the Card is a payment access device to your Account that allows you to make certain purchases, payments and transfers to third parties. The Account may not be opened as a joint account. You cannot give a security interest or pledge your Account to someone other than us without first getting our express written consent. We are not required to give consent to a security interest or pledge to someone else. Unless we agree in a separate writing otherwise, a security interest or pledge to someone else must be satisfied or released before any right to withdraw from the account can be exercised. You must immediately report to us any changes in Account ownership information that you originally provided to us in connection with the submission of your application for an Account. [FINAL] You may designate authorized users to initiate transactions on your behalf or take any action under this Agreement that you may have taken, and any action taken by an authorized user shall be fully binding on you. You may not permit an authorized user to initiate a transfer, payment order or transaction in the absence of proper supervision and safeguards. If you permit another person to have access to the Card or Account, this will be treated as if you authorized such use and you will be liable for all transactions and fees incurred by those persons. You are wholly responsible for the use of the each Card and Account use according to the terms and conditions of this Agreement. You are liable for all transactions made with the Card(s) or Account by your authorized user(s). You are the Account Card owner and are responsible for all transactions and fees incurred by you or any authorized user(s). You may terminate the authority of any authorized user at any time by giving us prior notice of termination. To terminate access of an authorized user to the a Card or Account, call the toll-free number on the back of your Card or customer service at 000-000-0000 and you must follow-up not later than ten (10) business days with the written notification to revoke (cancel) permission for any person you previously authorized to use your Card or Account. Until we have received your written notice of such a revocation (cancelation) and have had a reasonable time to act upon the written notification of cancelation, you are responsible for all transactions and fees incurred by you or any authorized user. If you tell us to revoke (cancel) another person’s use of your Card or Account, we may revoke (cancel) your Card and Account credentials. Except as otherwise provided by law, you shall be liable for any loss or damage to which your negligence contributed or which resulted in unauthorized, fraudulent, or dishonest acts by your current and/or former authorized users. Such liability includes instances when a current or former authorized user effects one or more payment orders or transactions or improper use of security procedures to effect a payment order or transaction to your detriment. Notwithstanding anything to the contrary, you are liable for all losses relating to unauthorized funds transfers that do not result solely from our negligence or intentional misconduct, unless the laws governing your account require requires a lesser liability.