Common use of HOLD ON DESIGNATED ACCOUNT Clause in Contracts

HOLD ON DESIGNATED ACCOUNT. We may set aside or place a hold on your Designated Account in respect of any Card Transaction on the day such Card Transaction is presented to us for payment or on the day we receive notice of such Card Transaction. Such an amount set aside or held is only an estimated sum of the actual Card Transaction and may not be identical to the actual Card Transaction. Should we set aside or hold any amount, the balance in your Designated Account shall be notionally reduced by such amount that we set aside. You may not stop payment on such Card Transaction nor use any sum set aside or held by us from your Designated Account. Where applicable, we may set aside or hold such sums from your Designated Account for such period(s) as we deem fit after which we shall debit your Designated Account for the full amount of the actual Card Transaction. We shall have the right to increase at any time the amount that we would hold in respect of any Card Transaction which is denominated in a currency other than Singapore dollars if we are of the view that the amount initially held when converted into foreign currency would not be sufficient to pay that Card Transaction in full.

HOLD ON DESIGNATED ACCOUNT. We may set aside or place a hold on your Designated Account in respect of any Card Transaction on the day such Card Transaction is presented to us for payment or on the day we receive notice of such Card Transaction. Such an amount set aside or held is only an estimated sum of the actual Card Transaction and may not be identical to the actual Card Transaction. Should we set aside or hold any amount, the balance in your Designated Account shall be notionally reduced by such amount that we set aside. You may not stop payment on such Card Transaction nor use any sum set aside or held by us from your Designated Account. Where applicable, we may set aside or hold such sums from your Designated Account for such period(s) as we deem fit fit after which we shall debit your Designated Account for the full amount of the actual Card Transaction. We shall have the right to increase at any time the amount that we would hold in respect of any Card Transaction which is denominated in a currency other than Singapore dollars if we are of the view that the amount initially held when converted into foreign currency would not be sufficient sufficient to pay that Card Transaction in full.

HOLD ON DESIGNATED ACCOUNT. We may set aside or place a hold on your Designated Account in respect of any Card Transaction on the day such Card Transaction is presented to us for payment or on the day we receive notice of such Card Transaction. Such an amount set aside or held is only an estimated sum of the actual Card Transaction and may not be identical to the actual Card Transaction. Should we set aside or hold any amount, the balance in your Designated Account shall be notionally reduced by such amount that we set aside. You may not stop payment on such Card Transaction nor use any sum set aside or held by us from your Designated Account. Where applicable, we may set aside or hold such sums from your Designated Account for such period(s) as we deem fit after which we shall debit your Designated Account for the full amount of the actual Card Transaction. Where your Card is tagged to a Designated Account for use in any and/or all Foreign Currency funds in the Designated Account, the amount held for a Card Transaction made in Foreign Currency will be held in Foreign Currency. We shall have the right to increase at any time the amount that we would hold in respect of any Card Transaction which is denominated in a currency other than Singapore dollars if we are of the view that the amount initially held when converted into foreign currency would not be sufficient to pay that Card Transaction in full.