Common use of Authorization Holds for Debit Card Transactions Clause in Contracts

Authorization Holds for Debit Card Transactions. 8. When you use your debit card to pay for goods or services, the merchant may seek preauthorization from us for the transaction. When we preauthorize the transaction, we commit to make the requested funds available when the transaction finally posts and as such, we generally place a temporary hold against some or all of the funds in the account linked to your debit card, based on the amount of the preauthorization request fromthe merchant. We refer to this temporary hold as an “authorization hold,” and the amount of the authorization hold will be subtracted from your available balance as authorization requests are received by us throughout each day. Until the transaction finally settles, or we otherwise remove the hold (for example, we may remove the hold because it exceeds the time permitted, asdiscussedbelow, or wedeterminethat it isunlikelytobe processed), the funds subject to the hold will not be available to you for other purposes. At some point after you sign for the transaction, it is processed by the merchant and submitted to us for payment. This can happen hours or sometimes days after you signed for it, depending on the merchant and its processing company. These payment requests are received in real time throughout the day and are posted to your account as they are received.

Authorization Holds for Debit Card Transactions. 8. When you use your debit card to pay for goods or services, the merchant may seek preauthorization from us for the transaction. When we preauthorize the transaction, we commit to make the requested funds available when the transaction finally posts and as such, we generally place a temporary hold against some or all of the funds in the account linked to your debit card, based on the amount of the preauthorization request fromthe merchant. We refer to this temporary hold as an “authorization hold,” and the amount of the authorization hold will be subtracted from your available balance as authorization requests are received by us throughout each day. Until the transaction finally settles, settles or we otherwise remove the hold (for example, we may remove the hold because it exceeds the time permitted, asdiscussedbelow, or wedeterminethat it isunlikelytobe processed), the funds subject to the hold will not be available to you for other purposes. At some point after you sign for the transaction, it is processed by the merchant and submitted to us for payment. This can happen hours or sometimes days after you signed for it, depending on the merchant and its processing company. These payment requests are received in real time throughout the day and are posted to your account as they are received.

Authorization Holds for Debit Card Transactions. 89. When you use your debit card to pay for goods or services, the merchant may seek preauthorization from us for the transaction. When we preauthorize the transaction, we commit to make the requested funds available when the transaction finally posts and as such, we generally place a temporary hold against some or all of the funds in the account linked to your debit card, card based on the amount of the preauthorization request fromthe from the merchant. We refer to this temporary hold as an “authorization hold,” and the amount of the authorization hold will be subtracted from your available balance as authorization requests are received by us throughout each day. Until the transaction finally settles, settles or we otherwise remove the hold (for example, we may remove the hold because it exceeds the time permitted, asdiscussedbelowas discussed below, or wedeterminethat we determine that it isunlikelytobe is unlikely to be processed), the funds subject to the hold will not be available to you for other purposes. At some point after you sign for or otherwise authorize the transaction, it is processed by the merchant and submitted to us for payment. This can happen hours or sometimes days after you signed for for/authorized it, depending on the merchant and its processing company. These payment requests are received in real time throughout the day and are posted to your account as they are received.