Cancellation of Debit Cards Clause Samples

The 'Cancellation of Debit Cards' clause outlines the conditions and procedures under which a debit card issued by a financial institution may be deactivated or revoked. Typically, this clause specifies the circumstances that can trigger cancellation, such as cardholder request, suspected fraud, account closure, or breach of terms. It may also detail the steps the cardholder must take to return or destroy the card and any obligations regarding outstanding transactions. The core function of this clause is to protect both the cardholder and the issuer by clearly defining when and how a debit card can be cancelled, thereby reducing the risk of unauthorized use and ensuring proper account management.
POPULAR SAMPLE Copied 1 times
Cancellation of Debit Cards. A Debit Card is subject to cancellation at any time by either Party pursuant to this Agreement, the Debit Card Agreement or, on a case-by-case basis, where either Party believes a Customer is using the Debit Card for fraudulent or illegal purposes. Upon receipt of a notice from either Party of cancellation of any Debit Cards or upon termination of this Agreement for any reason, Aspiration shall, at its sole expense and in compliance with the Network Rules, promptly destroy such cancelled Debit Cards in Aspiration’s possession or under Aspiration’s control and provide written certification to Coastal of destruction of any cancelled Debit Cards. For the avoidance of doubt, Aspiration’s obligation to destroy any cancelled Debit Cards does not extend to Debit Cards that are not within Aspiration’s possession or under Aspiration’s control, such as Debit Cards that remain under the control of Customers.
View SourceView Similar (5)

Related to Cancellation of Debit Cards

  • Cancellation of Debt The Borrower shall not cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

  • Cancellation OSS Charge ▇▇▇▇▇▇ will incur an OSS charge for an accepted LSR that is later canceled.

  • Cancellation of Agreement In the event that prior to the Closing Date (a) trading in securities on the New York Stock Exchange generally, or in securities of the Bank in particular, shall have been suspended, or minimum prices established by the New York Stock Exchange, or any new restrictions on transactions in securities shall have been established by the New York Stock Exchange or by the Commission or by any other United States Federal or State agency or by any action of the United States Congress or by executive order to such a degree as, in your judgment as the Representatives, to affect materially and adversely the marketing of the Securities or (b) existing financial, political or economic conditions in Europe, the United States or elsewhere shall have undergone any change which, in your judgment as the Representatives, would materially and adversely affect the market for the Securities, this Agreement and all obligations of the Underwriters hereunder may be canceled at, or at any time prior to, the Closing Date by you, as the Representatives, without liability on the part of any Underwriter to the Bank or of the Bank to any Underwriter, subject to Section 11(e). Notice of such cancellation shall be given to the Bank in writing, or by cable or telephone confirmed in writing.

  • Cancellation of Notes Any Person that receives a Note surrendered for payment, registration of transfer, exchange or redemption will deliver the Note to the Indenture Trustee and the Indenture Trustee will promptly cancel it. The Issuer may surrender to the Indenture Trustee for cancellation Notes previously authenticated and delivered under this Indenture which the Issuer may have acquired, and the Indenture Trustee will promptly cancel them. No Notes will be authenticated in place of or in exchange for Notes cancelled as stated in this Section 2.10. The Indenture Trustee may hold or dispose of cancelled Notes according to its standard retention or disposal policy unless the Issuer directs, by Issuer Order, that they be destroyed or returned to it.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.