Common use of Different Types of Transactions Clause in Contracts

Different Types of Transactions. You may use the Visa Account for: • Purchases • Cash Advances • Balance Transfers • any other purpose we permit Each time you use the Visa Account (through your Visa Card), we call this a “Transaction”. We set out specific information about some of the different types of Transactions, subsequently in this Agreement. When you use the Visa Account for any type of Transaction and it has been approved by Visa, the available credit on your Visa Account will decrease by the amount of the Transaction, whether or not you have received the goods or services you purchased, or the cash advanced. We reserve the right to prevent your Visa Card or the Visa Account from being used for certain types of Transactions as determined by us, including Transactions connected to Internet gambling, cryptocurrencies, certain countries or any illegal activity. Different fees may apply to the different types of Transactions. These are all explained in Section 6 of this Agreement – “Costs to You for Using Your Visa Account” and in the Disclosure Statement. We may allow you to use your Visa Card on various digital or mobile wallet payment applications, and we may provide the Primary Cardholder with access to the Visa Account through a digital or mobile wallet. If you choose to add your Visa Card to, or access the Visa Account through, a digital or mobile wallet, you will be bound by our terms for that service, up-to-date copies of which can be found online at xxxxxxx.xxx. In order to use a digital or mobile wallet, you may also be required to agree to the terms, conditions and privacy policies of parties other than Vancity, such as digital or mobile wallet providers, your wireless carrier, and other service providers, or to the terms and conditions of websites made available to you through a digital or mobile wallet. Credit Limit • You may not complete any Transaction that will cause the Visa Account to go over the Credit Limit. • If there is more than one Visa Card in use on the Visa Account (because there are Authorized Users), the total Credit Limit will be shared among all of the cards. • We may allow the Primary Cardholder to set individual card limits (up to the Credit Limit) for each Authorized User on the Visa Account, in which case an Authorized User may not complete any Transaction that will exceed that Authorized User’s individual card limit. This option may be subject to additional terms. • The Credit Limit will appear on each of the Primary Cardholder’s statements and on the Visa Account. If the Primary Cardholder has set an individual card limit for an Authorized User, the “credit limit” appearing on the Visa Account details to which the Authorized User has access to will appear as the card limit instead of the overall Credit Limit. • There may be times where we allow you to complete a Transaction that would cause you to go over your Credit Limit, or where we allow an Authorized User to complete a Transaction that would cause the Authorized User to go over the card limit. We are not required to do this and even if we do it once, this does not mean that we will do it again. • If the Visa Account Balance reaches or goes over your Credit Limit, we will have the right to suspend the Visa Account, meaning that you will not be able to use the Visa Account until you make a payment to reduce your Balance below your Credit Limit. Call us right away if you know that you will have difficulty making your Minimum Payment as we may be able to make arrangements to help you.

Different Types of Transactions. You Authorized Users may use the Visa Account as permitted by the Business for: • Purchases • Cash Advances • Balance Transfers • writing Visa Cheques• any other purpose we permit Each time you use an Authorized User uses the Visa Account (through your the Visa CardCard or Visa Cheque), we call this a “Transaction”. We set out specific information about some of the different types of Transactions, subsequently in this AgreementTransactions below. When you use the Visa Account is used for any type of Transaction and it has been approved by Visa, the available credit on your the Visa Account will decrease by the amount of the Transaction, whether or not you have the Authorized User has received the goods or services you purchased, or the cash advanced. We reserve the right to prevent your the Visa Card or the Visa Account from being used for certain types of Transactions transactions as determined by us, including Transactions transactions connected to Internet Internetinternet gambling., cryptocurrencies, certain countries or any illegal activity. Different fees may willmay apply to the different types of Transactions. These are all explained in Section 6 7 of this Agreement – “Costs to You for of Using Your the Visa Account” Account – Interest and in the Fees”.the Disclosure Statement. We may allow you Authorized Users to use your the Visa Card on various digital or mobile wallet payment applications, and we may provide the Primary Cardholder with access to the Visa Account through a digital or mobile wallet. If you Authorized Users choose to add your the Visa Card to, or access the Visa Account through, a digital or mobile wallet, you such Authorized Users and the Business will be bound by our terms for that service, up-to-date copies of which can be found online at xxxxxxx.xxx. In order for Authorized Users to use a digital or mobile wallet, you Authorized Users may also be required to agree to the terms, conditions and privacy policies of parties other than Vancity, such as digital or mobile wallet providers, your wireless carriercarriers, and other service providers, or to the terms and conditions of websites made available to you Authorized Users through a digital or mobile wallet. Credit Limit • You No Transaction may not complete any Transaction be completed that will cause the Visa Account to go over the Credit Limit. • If there is more than one Visa Card in use on the Visa Account (because there are Authorized Users), the The total Credit Limit will be shared among all of the cards. • We may allow the Primary Cardholder to set individual card limits (up to the Credit Limit) for each Authorized User Visa cards issued on the Visa Account, in which case an Authorized User may not complete any Transaction that will exceed that Authorized User’s individual card limit. This option may be subject to additional terms. • The Credit Limit will appear on each of the Primary Cardholder’s statements and on the Visa Account. If the Primary Cardholder has set an individual card limit for an Authorized User, the “credit limit” appearing on the Visa Account details to which the Authorized User has access to will appear as the card limit instead of the overall Credit Limit. • There may be times where we allow you to complete a Transaction that would cause you to go over your Credit Limit, or where we allow an Authorized User to complete the completion of a Transaction that would cause the Authorized User Visa Account to go over the card limitCredit Limit. We are not required to do this and even if we do it once, this does not mean that we will do it again. • If the Visa Account Balance reaches or goes over your the Credit Limit, we will have the right to suspend the Visa Account, meaning that you neither the Business nor any Authorized Users will not be able to use the Visa Account until you make the Business makes a payment to reduce your the Balance below your the Credit Limit. Call us right away if you know that you the Business will have difficulty making your the Minimum Payment as we may be able to make arrangements to help youhelp.