Common use of Hold on Funds Clause in Contracts

Hold on Funds. The Bank may immediately upon notification put a hold on funds in Your Operating Account in the event of any request for retrieval of a sales receipt, any existing or potential chargeback, and any transaction considered by the Bank to be suspicious or fraudulent.

Hold on Funds. The Bank may immediately upon notification put a hold on funds in Your Operating Account Merchant’s deposit operating account at Bank, in the event of any request for retrieval of a sales receipt, any existing or potential chargeback, and any transaction considered by the Bank to be suspicious or fraudulent.