Common use of Debit Transactions Clause in Contracts

Debit Transactions. To initiate payment orders under this modality, the Contracting Party must be the holder or co-holder of a demand account opened at CaixaBank, hereinafter the "Associated Account". If the Associated Account is opened in the name of several holders, the Contracting Party's powers of disposal must be indistinct or joint and several. Otherwise, all co-holders must expressly consent to the debiting of payment transactions initiated from the card. Payment orders initiated by means of the Card under the "debit" modality will be debited immediately from the Associated Account with the value date of the day on which they are made.