Common use of Shortages Clause in Contracts

Shortages. You must have a sufficient balance of funds on the Card at the time of a transaction in order to perform the transaction. If you attempt a Card transaction for an amount that is greater than the available balance on your Card, we have no obligation to approve that transaction, even if we previously have approved other insufficient funds transactions. In the event that we, in our sole discretion, settle or pay a transaction with your Card when there are insufficient funds stored on the Card to pay for the transactions, this will result in a negative funds balance on your Card. You agree to immediately pay us the amount of the negative funds balance without further demand by us, subject to the requirements of applicable law or regulation. We may deduct the amount of the negative balance from any funds loaded on to your Card, subject to the requirements of applicable law or regulation.

Appears in 4 contracts

Samples: Prepaid Card Cardholder Agreement, Prepaid Card Cardholder Agreement, Prepaid Card Cardholder Agreement

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Shortages. You must have a sufficient balance of funds on the Card at the time of a transaction in order to perform the transaction. If you attempt a Card transaction for an amount that is greater than the available balance on your Card, we have no obligation to approve that transaction, even if we previously have approved other insufficient in- sufficient funds transactions. In the event that we, in our sole discretion, settle or pay a transaction with your Card when there are insufficient funds stored on the Card to pay for the transactions, this will result in a negative funds balance on your Card. You agree to immediately pay us the amount of the negative funds balance without further demand by us, subject to the requirements of applicable law or regulation. We may deduct the amount of the negative balance from any funds loaded on to your Card, subject to the requirements of applicable law or regulation.

Appears in 2 contracts

Samples: Prepaid Card Cardholder Agreement, Prepaid Card Cardholder Agreement

Shortages. You must have a sufficient balance of funds on the Card at the time of a transaction in order to perform the transaction. If you attempt a Card transaction for an amount that is greater than the available balance on your Card, we have no obligation to approve that transaction, even if we previously have approved other insufficient funds transactions. In the event that we, in our sole discretion, settle or pay a transaction with your Card when there are insufficient funds stored on the Card to pay for the transactionstransaction, this will result in a negative funds balance on your Card. You agree immediately to immediately pay us the amount of the negative funds balance without further demand by us, subject to the requirements of applicable law or regulation. We may deduct the amount of the negative balance from any the funds loaded on to your Card, subject to the requirements of applicable law or regulation.

Appears in 1 contract

Samples: www.regions.com

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Shortages. You must have a sufficient balance of funds on the Card at the time of a transaction in order to perform the transaction. If you attempt a Card transaction for an amount that is greater than the available balance on your Card, we have no obligation to approve that transaction, even if we previously have approved other insufficient funds transactions. In the event that we, in our sole discretion, settle or pay a transaction with your Card when there are insufficient funds stored on the Card to pay for the transactionstransaction, this will result in a negative nega- tive funds balance on your Card. You agree immediately to immediately pay us the amount of the negative funds balance and any applicable fees without further demand by us, subject to the requirements of applicable law or regulation. We may deduct the amount of the negative balance and applicable fees from any funds subsequently loaded on to onto your Card, subject to the requirements of applicable law or regulation.

Appears in 1 contract

Samples: Cardholder Agreement

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