Common use of Transaction Authorization Clause in Contracts

Transaction Authorization. Each transaction using your nbs MasterCard Debit Card will require authorization from the Bank before they can proceed. When the Bank gives an authorization, it reduces the available balance in your Account equivalent to the Authorization Amount. Certain merchants, such as hotels and car rental agencies, may request confirmation that your Account has sufficient balance to meet the anticipated cost of goods/services to fulfil. A merchant may also request subsequent authorization to cover additional costs for services and/or goods availed which were not included in an earlier or prior authorization. Your nbs MasterCard Debit Card transactions shall be processed by the merchant, international network, and your Bank before it is posted to your Account. For transactions outside the Samoa, the Bank shall compute the equivalent amount based on the exchange rate quoted by the international network at the time of posting of transaction, which may differ from the rate in effect during authorization. In the event the Authorization Amount is lower than the Posted Amount, you agree that any shortfall shall be automatically debited from your Account.

Transaction Authorization. Each transaction using your nbs MasterCard TDB Visa Debit Card will require authorization from the Bank before they can proceed. When the Bank gives an authorization, it reduces the available balance in your Account equivalent to the Authorization Amount. Certain merchants, such as hotels and car rental agencies, may request confirmation that your Account has sufficient balance to meet the anticipated cost of goods/services to fulfil. A merchant may also request subsequent authorization to cover additional costs for services and/or goods availed which were not included in an earlier or prior authorization. Your nbs MasterCard TDB Visa Debit Card transactions shall be processed by the merchant, international network, and your Bank before it is posted to your Account. For transactions outside the SamoaTonga, the Bank shall compute the equivalent amount based on the exchange rate quoted by the international network at the time of posting of transaction, which may differ from the rate in effect during authorization. In the event the Authorization Amount is lower than the Posted Amount, you agree that any shortfall shall be automatically debited from your Account.