Common use of Visa® Debit Card Pre-authorization Holds Clause in Contracts

Visa® Debit Card Pre-authorization Holds. When you use your Visa® Debit Card at certain merchants such as self-service gas stations, restaurants, hotels, airlines, and rental car companies, the merchant may request a pre-authorization hold on your account to cover the transaction. The pre-authorization amount may be greater than the actual purchase amount. We will place a hold on your account for the amount of any pre-authorization request. This hold may remain on your account for up to three business days, not including weekend days and banking holidays, even after the transaction has been paid. Pre-authorization holds may affect the availability of funds in your account to pay for checks, Visa® Debit Card transactions, and other payment transactions on your account. It is your responsibility to ensure that your available balance remains sufficient to cover the transactions you make. You may incur overdraft fees if you fail to maintain a sufficient available balance to pay your transactions when presented. You agree that we may place merchant pre-authorization holds on your account in connection with your card use, and you will be responsible for any costs or fees you may incur for dishonor of items or otherwise because of such holds. DISCLOSURES