Common use of Debit MasterCard Clause in Contracts

Debit MasterCard. The Debit Mastercard is not a credit card, all transactions made with it will be debited from your Account. Purchases or cash withdrawals will be debited from the Account once the business or institution where the transaction was made submits the payment order to the Cooperative. In the case of a business or financial institution, where the Depositor presents the Debit Mastercard, obtains the authorization of the Cooperative to accept one or more payment orders, the charge for the payment of the orders may be temporarily withheld, such retention could delay up to twenty (20) business days. The Cooperative will not be able to release previously authorized payment orders. The Depositor relieves the Cooperative of any responsibility for withholdings or debits made in relation to authorized payment orders that are not subsequently issued. Payment orders corresponding to transactions made with the Debit Mastercard will not be subject to stop payments.