Holds on the Account Sample Clauses

Holds on the Account. Typically, debit-card transaction “holds” are for the amount of the actual purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his Account/Accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times.