Common use of Operation of the Account Clause in Contracts

Operation of the Account. The Issuer shall debit to the Account the amount of each Transaction, Cash Advance, charges, any Account fee and interest at the relevant Interest Rate, which has accrued under this agreement. If a merchant contacts the Issuer for confirmation that the Issuer will pay a proposed Transaction and the Issuer so authorize the merchant, the amount of the authorised Transaction will immediately reduce the amount of credit available on the account even though the Transaction has yet to be debited to the Account. Once the card has been used for a Transaction, the Transaction cannot be cancelled or stopped. Subject as provided, interest will be charged on the amount of each Transaction and Cash Advance on a daily basis from the date any such amount is debited to the Account until full repayment is credited to the Account. Where any merchant involved in a Transaction becomes liable to make any refund to the Cardholder, the Issuer shall credit the Account with the amount to be refunded only on the receipt of a properly issued refund voucher or other appropriate verification of the refund by that merchant. The Issuer may decide not to give authorization on Transaction requests if: