Common use of BLOCKING OF THE CARD Clause in Contracts

BLOCKING OF THE CARD. (a) The Bank has the right to immediately block the use of any Card or refuse to reissue or renew or replace the Card for objectively justified reasons relating to the security of the Card, the suspicion or risk of fraudulent or unauthorized use of the Card, and/or the PIN and/or the personalized security credentials or relating to suspicious Transactions or the significantly increased risk of inability of the Cardholder and/or the holder of the Card Account to fulfill his liability to pay and/or settle any debit balance according to paragraph 5(d). (b) In such cases, the Bank shall inform, in accordance to paragraph 14 the Cardholder and/or the holder of the Card Account and/or any third party its decision and the reasons for it, before or immediately after the blocking of the Card, unless this is prohibited under European or National Legislation or such information would compromise objectively justified security reasons. (c) The Bank shall unblock the Card or replace it with a new one once the reasons for blocking no longer exist.

BLOCKING OF THE CARD. (a) The Bank has the right to immediately block the use of any Card or refuse to reissue or renew or replace the Card for objectively justified reasons relating to the security of the Card, the suspicion or risk of fraudulent or unauthorized use of the Card, and/or the PIN and/or the personalized security credentials or relating to suspicious Transactions or the significantly increased risk of inability of the Cardholder and/or the holder of the Card Account to fulfill his liability to pay and/or settle any debit balance according to paragraph 5(d). (b) In such cases, the Bank shall inform, in accordance to with paragraph 14 the Cardholder and/or the holder of the Card Account and/or any third party of its decision and the reasons for behind it, before or immediately after the blocking of the Card, unless this is prohibited under the laws of the Republic of Cyprus or of the European or National Legislation Union or such information would compromise objectively justified security reasons. (c) The Bank shall unblock the Card or replace it with a new one once the reasons for blocking no longer exist.