Using Your Debit Card Clause Samples
The 'Using Your Debit Card' clause defines the rules and conditions under which account holders may use their debit cards for transactions. It typically outlines permitted uses, such as making purchases, withdrawing cash from ATMs, and any restrictions on card usage, like daily spending limits or prohibited transactions. This clause ensures that both the cardholder and the financial institution have a clear understanding of how the debit card can be used, helping to prevent misuse and clarify responsibilities.
Using Your Debit Card. You may use your Debit Card to make one-time and recurring Debit Card Transactions, to withdraw cash at ATMs, and to check your Account balance at participating ATMs. Debit Card Transactions that exceed the Available Balance of your Account may be declined at the point of sale or ATM. American Express® Debit Cards and American Express credit cards are different payment mechanisms that are not linked. Negative Balances in your Rewards Checking Account will not be transferred to or paid by your credit card account. Your American Express credit cards may not be used to make Debit Card Transactions. You may make Foreign Currency Debit Card Transactions from your Account that are paid in currencies other than U.S. Dollars. We will charge you a fee for this service as detailed in this Checking Schedule. Foreign Currency Debit Card Transactions out of your Account are paid to the recipient of the transaction in the specified foreign currency and your Account is debited the equivalent amount in U.S. Dollars based on a currency conversion rate selected by American Express. American Express’s affiliate, AE Exposure Management Ltd. (“AEEML”), converts the amount to be paid in the foreign currency into U.S. Dollars on the date we or our agents process the currency conversion. Unless a particular rate is required by law, AEEML will choose a conversion rate that is acceptable to us for the relevant date. The rate AEEML uses will be no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior Business Day. This conversion rate may differ from the rates that are in effect on the date of your transaction. We charge a Foreign Exchange Fee for transactions paid in any currency other than U.S. Dollars. This fee will be applied in addition to the funds debited against your Account for payment of the transaction in the foreign currency. Foreign Currency Debit Card Transactions are not available in all currencies and the currencies for which foreign currencies may be paid may change at any time at our discretion. An authorization hold is a restriction that we place on funds in your Account that decreases your Available Balance in order to maintain sufficient funds in your Account to settle transactions that you make with your Debit Card. When you make a Debit Card Transaction, such as a point- of-sale purchase, the merchant or payee will generally submit a...
Using Your Debit Card. In order to assist us in maintaining the security of your account and the terminals, the Debit Card remains our property and may be revoked or canceled at any time without giving you prior notice. You agree not to use your Debit Card for a transaction that would cause your account balance to go below zero, or to access an account that is no available or lacks sufficient funds to complete the transaction, including any available line of credit. We will not be required to complete any such transaction, but if we do, we may, at our sole discretion, charge or credit the transaction to another account; you agree to pay us the amount of the improper withdrawal or transfer upon request.
Using Your Debit Card. Upon Account opening, you will receive access to your Card in digital form. If you request a physical Card, you agree to sign the back of the Card immediately upon receipt. You acknowledge and agree that the funds accessible through use of the Card, whether accessed digitally or physically, is limited to the available funds of your Account. For physical Cards, the expiration date is identified on the back of the Card. The Card in all its forms is the property of the Bank and must be surrendered or deactivated upon demand. The Card is nontransferable and it may be canceled, repossessed, or revoked at any time without prior notice subject to applicable law.
Using Your Debit Card. You must sign each Debit Card immediately upon receipt. You may be required to activate your Debit Card before it can be used. We may issue Debit Cards to renew your current Debit Card at expiry or replace it with a different card type if your current Debit Card type is discontinued or for other reasons. You may use your Debit Card to make purchase Transactions where accepted by Merchants and in the manner permitted by such Merchants. In some cases, you may select the Account to be used for a Transaction by selecting either 'Chequing' or 'Savings'. In other cases, the electronic device processing the Transaction may automatically select the Account in the 'Chequing' position on the Debit Card or, if an Account is not present in the 'Chequing' position, the Account in the 'Savings' position will be used if present or if neither is present the Account in the 'Other' position may be used. You acknowledge that in such other cases, you are still responsible for any fees, interest charges and amounts borrowed (if the Account is a line of credit Account or has overdraft protection) or incurred as a result of the Transaction. You must not use your Debit Card for any illegal purpose, including the purchase of any goods and/or services prohibited by applicable local law. You agree not to use your Debit Card after the expiry date embossed on the Debit Card.
Using Your Debit Card