Common use of Account Updater Service Clause in Contracts

Account Updater Service. Visa requires the Credit Union to participate in an Account Updater Service in which your Visa card will be automatically enrolled. When your debit card expires or is lost/stolen and a new card is issued, the Service makes the new card data (card number and expiration dates) available to merchants with whom you have preauthorized (recurring) payments, such as subscription services or utility companies. With the updated card information the merchant may continue to process your recurring payments without requiring a new authorization. You may choose not to have your updated card information available to merchants. If you do not want VISA to update your card information automatically when it changes you must contact the Credit Union to opt-out of the service.