Common use of Present Transactions Clause in Contracts

Present Transactions. If you use the 16-digit Card number without presenting the Card in person (such as for a mail order, telephone, or internet purchase), the legal effect will be the same as if you had physically presented the Card itself. For security reasons, we may limit the amount or number of such transactions you may make. Processing Errors. We will rectify any processing error that we discover. If the error results in your receipt of less than the correct amount to which you are entitled, we will credit the Account for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, we will debit the extra funds from the Account.

Appears in 3 contracts

Sources: Commercial Checking Account Agreement, Consumer Checking Account Agreement, Commercial Checking Account Agreement