Common use of Automated Teller Machine Transactions Clause in Contracts

Automated Teller Machine Transactions. If you selected a transaction option for one or more Authorized Users which permits transactions by automated teller machine (“ATM”), we will issue a PIN for use with those Cards. This will enable the Authorized User to obtain cash at any ATM displaying the Visa®, Star®, or Plus® logo. The number and amount of transactions which can be made in one day through ATMs will be restricted depending on the spending tier option you selected. All PINs must be kept in confidence by you and by the Authorized User. You agree to take all necessary steps and institute all appropriate precautions and security measures to protect and maintain the secrecy and security of each PIN. You further agree to instruct the Authorized Users concerning the proper business use of the Cards and the appropriate procedures which must be followed to maintain the confidentiality and security of the Cards and the associated PINs. If you or the Authorized Users permit someone to use a Card and associated PIN, you will be liable for all Card transactions and cash withdrawals which may result. All ATM transactions performed with the Cards are subject to the “Cut-Off” times established from time to time by the owners or operators of the ATM for processing ATM transactions, and any ATM transaction initiated after the “Cut-Off” time will be posted to your Account on the following business day. For purposes of calculating your daily ATM withdrawal limit for transactions conducted with the Card(s), we define our “day” as midnight to midnight.