Authorization Holds. When you use the Card in a POS transaction, the merchant may request an authorization for the transaction at the time of the transaction. In certain circumstances the payment authorization system permits the merchant to request authorization for an amount that may be more or less than the final amount of the transaction, which final amount may be unknown at the time of the transaction (e.g., a restaurant may include in a transaction authorization request an amount sufficient to cover a tip). In connection with a POS authorization request, we may place a hold on your account as directed by the merchant at the time of the transaction. This type of hold helps make it more likely that your POS transaction will be completed, by holding funds available for the transaction pending our receipt of documentation from the merchant. Once such a hold is in place, the amount of the hold may not be available to pay any checks, POS transactions or other withdrawal or transfer orders or requests that you or other parties might make. The hold will be released when the merchant presents, and we process, supporting documentation for the transaction, or three business days after the transaction date, whichever occurs first. As is the case with all POS transactions, your account will be debited for the exact final amount of the transaction following our processing of the documentation. During the time that a hold is in place, the balance reported to you by means of telephone banking, internet banking, ATM screens or your periodic account statement might not reflect that the hold is or was in place against your account. This is because available balances are sometimes based on actual debits or credits to your account rather than on holds. During the period of any hold, we may, in our discretion, return items presented against your account or decline withdrawal and transfer requests, or we may pay such items and approve such withdrawal and transfer requests, if there are not sufficient funds in your account for such transactions in excess of the amount of the hold. You agree to be responsible for any overdraft and/or nonsufficient funds charges or fees we assess as a result of transactions against insufficient funds in your account during the period of any POS authorization holds, subject to the requirements of applicable law or regulation. You are responsible for knowing when you have made a POS transaction that might result in a hold and for not initiating transactions against insufficient funds during the period of any hold. We reserve the right, but have no obligation, to release the hold at any time, in our discretion, if necessary to make funds available to pay other items presented against your account. If we release the hold to pay other items, and the transaction corresponding to the hold is subsequently presented against insufficient funds, we, in our discretion, may reject the transaction or we may process and debit your account for the amount of the transaction, and in either event you agree to pay any applicable overdraft and/or nonsufficient funds charges or fees we assess, subject to the requirements of applicable law or regulation. You agree to release us from liability based on our return of items and/or our refusal to allow withdrawal or transfer requests when there are insufficient funds in your account due to any POS authorization hold, and you agree to release us from liability in the event we release a hold in order to pay other items presented against your account and subsequently reject the transaction corresponding to the hold due to insufficient funds in your account. You further release us from any and all liability in the event any merchant delays or fails to complete the final processing of any POS transaction that you have initiated with the merchant, and/or in the event any merchant places an authorization hold against your account in error. In general, we will not be responsible for any transactions generated in error by merchants, processing agencies, or any other third parties not under our control, except as may be required under applicable law.
Appears in 2 contracts
Samples: Agreement and Disclosure Statement for the Use of Atm Cards, Debit Cards, and Checkcards, Agreement and Disclosure Statement for the Use of Atm Cards, Debit Cards, and Checkcards
Authorization Holds. When you use the Card in a POS point-of-sale (“POS”) transaction, the merchant Merchant may request an authorization for the transaction at the time of the transaction. In certain circumstances circumstances, the payment authorization system permits the merchant to request authorization for an amount that may be more or less than the final amount of the transaction, which transaction because the final amount may be unknown at the time of the transaction (e.g., a restaurant may include in a transaction authorization request an amount sufficient to cover a tip). In connection with a POS authorization request, we may place a hold on your account Account as directed by the merchant at the time of the transaction. This type of hold helps make it more likely that your POS transaction will be completed, by holding funds available for the transaction pending our receipt of documentation from the merchant. Once such a hold is in place, the amount of the hold may not be available to pay any checks, POS transactions or other for withdrawal in cash or transfer orders or requests that you or other parties might make. The hold will be released when the merchant presents, and we process, supporting documentation for the transaction, or three business days after the transaction date, whichever occurs first. As is the case with all POS transactions, your account Account will be debited for the exact final amount of the transaction following our processing of the documentation. During the time that a hold is in place, the balance reported to you by means of telephone banking, internet banking, ATM screens or your periodic account statement might not reflect that the hold is or was in place against your account. This is because available balances are sometimes based on actual debits or credits to your account rather than on holds. During the period of any hold, we may, in our discretion, return items presented against your account or decline withdrawal and transfer requests, or we may pay such items and approve such withdrawal and transfer requests, if there are not sufficient funds in your account for such transactions in excess of the amount of the holdAccount. You agree to be responsible for any overdraft and/or nonsufficient funds charges or fees we assess as a result of Card transactions against insufficient funds in affecting your account during the period of any POS authorization holdsAccount, subject to the requirements of applicable law or regulation. You are responsible for knowing when you have made a POS transaction that might result in a hold and for not initiating transactions against insufficient funds during the period of any holdfunds. We reserve the right, but have no obligation, to release the hold at any time, in our discretion, if necessary to make . Overdraft and insufficient funds available to pay other items fees are determined when transactions are presented against your account. If we release the hold to pay other itemsfor payment, and fees may be charged even if the transaction corresponding to the hold is subsequently presented was previously authorized against insufficient funds, we, in our discretion, may reject the transaction or we may process and debit your account for the amount of the transaction, and in either event you agree to pay any applicable overdraft and/or nonsufficient funds charges or fees we assess, subject to the requirements of applicable law or regulationa positive balance. You agree to release us from liability based on our return of items and/or our refusal to allow withdrawal or transfer requests when there are insufficient funds in your account Account due to any POS authorization hold, and you agree to release us from liability in the event we release a hold in order to pay other items presented against your account and subsequently reject the transaction corresponding to the hold due to insufficient funds in your account. You further release us from any and all liability in the event any merchant delays or fails to complete the final processing of any POS transaction that you have initiated with the merchant, and/or in the event any merchant places an authorization hold against your account Account in error. In general, we will not be responsible for any transactions generated in error by merchants, processing agencies, or any other third parties not under our control, except as may be required under applicable law. Deposits and payments made at ATMs that can accept deposits and payments are subject to our verification and collection. You agree that our records are conclusive proof of deposits and payments made through these ATMs. Any claims concerning property or services purchased with the Card must be resolved by you directly with the merchant or seller who accepted the Card, and any claim or defense that you assert will not relieve you of your obligation to pay us the total amount of the transaction. If you have authorized a merchant to bill charges to your Card on a recurring basis, it is your responsibility to notify the merchant in the event your Card is replaced, your Card number or expiration date changes, or the applicable account from which payments are debited has been closed. However, if we issue a replacement Card to you, you authorize us, without obligation on our part, to provide information related to the replacement Card to the merchant in order to permit the merchant to bill recurring charges to the replacement Card, and you authorize us to apply such recurring charges to the replacement Card. Your use of the Card is subject to, and you agree to pay, the fees referenced or described in this Agreement and in related disclosures, and in our schedule of standard fees. We also have the right to charge a fee for replacing a Card. These fees are in addition to fees that relate to accounts accessible with the Card and are subject to change from time to time. You also agree to pay such charges as from time to time may be in effect with respect to Card transactions, including, without limitation, charges imposed by third parties in connection with the use of ATM/POS Terminals. Please contact 0-000-000-0000 or visit one of our branches for current information about applicable fees. We may cancel your use of the Card and PIN, or suspend your use thereof, or restrict or limit available transactions, at any time and for any reason, subject to the requirements of applicable law. You may cancel the Card and PIN at any time by calling the telephone number on the back of the Card, by visiting one of our banking offices and requesting assistance from one of our associates, or by using the Card cancellation functionality in our online banking service (online banking service is subject to separate enrollment). You agree not to use the Card after it has expired or been canceled, and you agree promptly to destroy the Card after cancellation or expiration.
Appears in 1 contract
Samples: Consumer Deposit Account Agreement
Authorization Holds. When you use the Card in a POS transaction, the merchant may request an authorization for the transaction at the time of the transaction. In certain circumstances the payment authorization system permits the merchant to request authorization for an amount that may be more or less than the final amount of the transaction, which final amount may be unknown at the time of the transaction (e.g., a restaurant may include in a transaction authorization request an amount sufficient to cover a tip). In connection with a POS authorization request, we may place a hold on your account as directed by the merchant at the time of the transaction. This type of hold helps make it more likely that your POS transaction will be completed, by holding funds available for the transaction pending our receipt of documentation from the merchant. Once such a hold is in place, the amount of the hold may not be available to pay any checks, POS transactions or other withdrawal or transfer orders or requests that you or other parties might make. The hold will be released when the merchant presents, and we process, supporting documentation for the transaction, or three business days after the transaction date, whichever occurs first. As is the case with all POS transactions, your account will be debited for the exact final amount of the transaction following our processing of the documentation. During the time that a hold is in place, the balance reported to you by means of telephone banking, internet banking, ATM screens or your periodic account statement might not reflect that the hold is or was in place against your account. This is because available balances are sometimes based on actual debits or credits to your account rather than on holds. During the period of any hold, we may, in our discretion, return items presented against your account or decline withdrawal and transfer requests, or we may pay such items and approve such withdrawal and transfer requests, if there are not sufficient funds in your account for such transactions in excess of the amount of the hold. You agree to be responsible for any overdraft and/or nonsufficient funds charges or fees we assess as a result of transactions against insufficient funds in your account during the period of any POS authorization holds, subject to the requirements of applicable law or regulation. You are responsible for knowing when you have made a POS transaction that might result in a hold and for not initiating transactions against insufficient funds during the period of any hold. We reserve the right, but have no obligation, to release the hold at any time, in our discretion, if necessary to make funds available to pay other items presented against your account. If we release the hold to pay other items, and the transaction corresponding to the hold is subsequently presented against insufficient funds, we, in our discretion, may reject the transaction or we may process and debit your account for the amount of the transaction, and in either event you agree to pay any applicable overdraft and/or nonsufficient funds charges or fees we assess, subject to the requirements of applicable law or regulation. Overdraft and insufficient funds fees are determined when transactions are presented for payment, and fees may be charged even if the transaction was previously authorized against a positive available balance. You agree to release us from liability based on our return of items and/or our refusal to allow withdrawal or transfer requests when there are insufficient funds in your account due to any POS authorization hold, and you agree to release us from liability in the event we release a hold in order to pay other items presented against your account and subsequently reject the transaction corresponding to the hold due to insufficient funds in your account. You further release us from any and all liability in the event any merchant delays or fails to complete the final processing of any POS transaction that you have initiated with the merchant, and/or in the event any merchant places an authorization hold against your account in error. In general, we will not be responsible for any transactions generated in error by merchants, processing agencies, or any other third parties not under our control, except as may be required under applicable law.
Appears in 1 contract
Samples: Agreement and Disclosure Statement for the Use of Atm Cards, Debit Cards, and Checkcards
Authorization Holds. When you use the Card in a POS transaction, the merchant may request an authorization for the transaction at the time of the transaction. In certain circumstances the payment authorization system permits the merchant to request authorization for an amount that may be more or less than the final amount of the transaction, which final amount may be unknown at the time of the transaction (e.g., a restaurant may include in a transaction authorization request an amount sufficient to (cover a tip). In connection with a POS authorization request, we may place a hold on your account as directed by the merchant at the time of the transaction. This type of hold helps make it more likely that your POS transaction will be completed, by holding funds available for the transaction pending our receipt of documentation from the merchant. Once such a hold is in place, the amount of the hold may not be available to pay any checks, POS transactions or other withdrawal or transfer orders or requests that you or other parties might make. The hold will be released when the merchant presents, and we process, supporting documentation for the transaction, or three seven business days after the transaction date, whichever occurs first. As is the case with all POS transactions, your account will be debited for the exact final amount of the transaction following our processing of the documentation. During the time that a hold is in place, the balance reported to you by means of telephone banking, internet banking, ATM screens or your periodic account statement might not reflect that the hold is or was in place against your account. This is because available balances are sometimes based on actual debits or credits to your account rather than on holds. During the period of any hold, we may, in our discretion, return items presented against your account or decline withdrawal and transfer requests, or we may pay such items and approve such withdrawal and transfer requests, if there are not sufficient funds in your account for such transactions in excess of the amount of the hold. You agree to be responsible for any overdraft and/or nonsufficient funds charges or fees we assess as a result of transactions against insufficient funds in your account during the period of any POS authorization holds, subject to the requirements of applicable law or regulation. You are responsible for knowing when you have made a POS transaction that might result in a hold and for not initiating transactions against insufficient funds during the period of any hold. We reserve the right, but have no obligation, to release the hold at any time, in our discretion, if necessary to make funds available to pay other items presented against your account. If we release the hold to pay other items, and the transaction corresponding to the hold is subsequently presented against insufficient funds, we, in our discretion, may reject the transaction or we may process and debit your account for the amount of the transaction, and in either event you agree to pay any applicable overdraft and/or nonsufficient funds charges or fees we assess, subject to the requirements of applicable law or regulation. You agree to release us from liability based on our return of items and/or our refusal to allow withdrawal or transfer requests when there are insufficient funds in your account due to any POS authorization hold, and you agree to release us from liability in the event we release a hold in order to pay other items presented against your account and subsequently reject the transaction corresponding to the hold due to insufficient funds in your account. You further release us from any and all liability in the event any merchant delays or fails to complete the final processing of any POS transaction that you have initiated with the merchant, and/or in the event any merchant places an authorization hold against your account in error. In general, we will not be responsible for any transactions generated in error by merchants, processing agencies, or any other third parties not under our control, except as may be required under applicable law.
Appears in 1 contract
Samples: Cardholder Agreement
Authorization Holds. When you use the Card in a POS transaction, the merchant may request an authorization for the transaction at the time of the transaction. In certain circumstances the payment authorization system permits the merchant to request authorization for an amount that may be more or less than the final amount of the transaction, which final amount may be unknown at the time of the transaction (e.g., a restaurant may include in a transaction authorization request an amount sufficient to cover a tip). In connection with a POS authorization request, we may place a hold on your account as directed by the merchant at the time of the transaction. This type of hold helps make it more likely that your POS transaction will be completed, by holding funds available for the transaction pending our receipt of documentation from the merchant. Once such a hold is in place, the amount of the hold may not be available to pay any checks, POS transactions or other withdrawal or transfer orders or requests that you or other parties might make. The hold will be released when the merchant presents, and we process, supporting documentation for the transaction, or three business days after the transaction date, whichever occurs first. As is the case with all POS transactions, your account will be debited for the exact final amount of the transaction following our processing of the documentation. During the time that a hold is in place, the balance reported to you by means of telephone banking, internet banking, ATM screens or your periodic account statement might not reflect that the hold is or was in place against your account. This is because available balances are sometimes based on actual debits or credits to your account rather than on holds. During the period of any hold, we may, in our discretion, return items presented against your account or decline withdrawal and transfer requests, or we may pay such items and approve such withdrawal and transfer requests, if there are not sufficient funds in your account for such transactions in excess of the amount of the hold. You agree to be responsible for any overdraft and/or nonsufficient funds charges or fees we assess fees, as are in effect from time to time and disclosed in our pricing schedules, as a result of transactions against insufficient funds in your account during the period of any POS authorization holds, subject to the requirements of applicable law or regulation. You are responsible for knowing when you have made a POS transaction that might result in a hold and for not initiating transactions against insufficient funds during the period of any hold. We reserve the right, but have no obligation, to release the hold at any time, in our discretion, if necessary to make funds available to pay other items presented against your account. If we release the hold to pay other items, and the transaction corresponding to the hold is subsequently presented against insufficient funds, we, in our discretion, may reject the transaction or we may process and debit your account for the amount of the transaction, and in either event you agree to pay any applicable overdraft and/or nonsufficient funds charges or fees we assessas are in effect from time to time and disclosed in our pricing schedules, subject to the requirements of applicable law or regulation. Overdraft and nonsufficient funds fees are determined when transactions are presented for payment. You agree to release us from liability based on our return of items and/or our refusal to allow withdrawal or transfer requests when there are insufficient funds in your account due to any POS authorization hold, and you agree to release us from liability in the event we release a hold in order to pay other items presented against your account and subsequently reject the transaction corresponding to the hold due to insufficient funds in your account. You further release us from any and all liability in the event any merchant delays or fails to complete the final processing of any POS transaction that you have initiated with the merchant, and/or in the event any merchant places an authorization hold against your account in error. In general, we will not be responsible for any transactions generated in error by merchants, processing agencies, or any other third parties not under our control, except as may be required under applicable law.
Appears in 1 contract
Samples: Agreement and Disclosure Statement for the Use of Atm Cards, Debit Cards, and Checkcards