VISA Debit Card Purchases Clause Samples
The "VISA Debit Card Purchases" clause defines the terms and conditions under which a VISA debit card may be used to make purchases. It typically outlines the types of transactions permitted, such as in-store or online purchases, and may specify any limits, fees, or restrictions associated with using the card for these purposes. This clause ensures that both the cardholder and the issuing institution have a clear understanding of how the card can be used, helping to prevent unauthorized transactions and manage financial risk.
VISA Debit Card Purchases. You may use your VISA Debit Card to purchase goods and services any place your Card is honored by participating merchants, including Point of Sale (POS) terminals within the networks or such other POS terminals as the Credit Union may designate. Funds to cover your Card purchases will be deducted from your checking account. If the balance in your account is not sufficient to pay the transaction amount, the Credit Union may treat the transaction as an overdraft request pursuant to the Courtesy Pay plan or may terminate all services under the Agreement. There is no limit on the number of POS purchase transactions you may make by Card during a statement period. No purchase may exceed the available funds in your account. The Credit Union reserves the right to refuse any transaction which would draw upon insufficient funds, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. The Credit Union reserves the right to refuse any transaction attempted in a blocked country. The Credit Union may set other limits on the amount of any transaction, and you will be notified of those limits. The Credit Union may refuse to honor any transaction for which you do not have sufficient available verified funds.
VISA Debit Card Purchases. You may use your VISA Debit Card and PIN to purchase goods and services any place your Card is honored by participating merchants, including point-of-sale (POS) terminals within the networks or such other POS terminals as the Credit Union may designate. Funds to cover your Card purchases will be deducted from your checking account. If the balance in your account is not sufficient to pay the transaction amount, the Credit Union may treat the transaction as an overdraft request pursuant to any applicable overdraft protection plan or may terminate all services under the Agreement. There is no limit on the number of POS purchase transactions you may make by Card during a statement period. No purchase may exceed the available funds in your account. You may make POS purchases up to a maximum amount of $3,500.00 per calendar day for regular checking accounts; and a maximum amount of $100.00 per calendar day for checkless checking (youth) accounts. The Credit Union reserves the right to refuse any transaction which would draw upon insufficient funds, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. The Credit Union may set other limits on the amount of any transaction, and you will be notified of those limits. The Credit Union may refuse to honor any transaction for which you do not have sufficient available verified funds. Merchants participating in Verified by VISA will require a password to authorize your identity before completing the transaction.