Unauthorised transactions Clause Samples
The 'Unauthorised transactions' clause defines the rules and responsibilities regarding financial transactions made without the account holder's consent. Typically, it outlines the process for reporting such transactions, the timeframe within which the account holder must notify the financial institution, and the circumstances under which the institution will reimburse losses or deny liability. This clause serves to protect both parties by clarifying liability for fraudulent or mistaken transactions, ensuring prompt reporting, and minimizing financial risk.
Unauthorised transactions. If you become aware of a transaction on your account that is unauthorised or incorrectly executed, or if your payment instrument is lost, stolen or misappropriated, you must tell us without undue delay and, in any event, within thirteen months of such a transaction being debited from your account. You will be entitled to rectification from us if that transaction was unauthorised or incorrectly executed. If the transaction was unauthorised, we will refund the amount of it to you and, if necessary, restore your account to the state that it would have been in if the unauthorised transaction had not taken place PROVIDED THAT:
(a) you will bear the loss of an unauthorised transaction on your account, up to a total of €50, if the unauthorised transaction resulted from the use of a lost, stolen or misappropriated payment instrument unless (i) the loss, theft or misappropriation was not detectable to you prior to the payment and you have not acted fraudulently, or (ii) the loss was caused by actions or lack of action by us or any of our employees, agents or third parties acting on our behalf.
(b) you will bear all losses relating to an unauthorised transaction on your account if you incurred those losses by acting fraudulently or by failing, intentionally or with gross negligence, or if you failed to take all reasonable steps to keep the payment instrument and personalised security credentials safe, to use the payment instrument in accordance with any terms that we tell you are applicable to it, and to notify us without undue delay of it being lost, stolen, misappropriated or used in an unauthorised manner;
(c) so long as you have not acted fraudulently you will not bear any financial consequences resulting from the use of a lost, stolen or misappropriated payment instrument once you have notified us in accordance with this Framework Contract that it has been lost, stolen or misappropriated;
(d) if we have not required strong customer authentication, in accordance with applicable legal or regulatory standards, you will not bear any financial losses unless you have acted fraudulently.
Unauthorised transactions. As between you and Stripe, you are responsible for Card Transactions, and fees and penalties Stripe incurs resulting from any Card Authorised User’s failure to (a) exercise reasonable care in safeguarding Cards from loss or theft; or (b) promptly report loss or theft, including fraud. Additionally, to the extent Law permits, if you or a Card Authorised User allows another party to use the Card or Card Account Data for any purpose or if an unauthorised person uses a Card or Card Account Data, you will be liable for that use, including all losses, damages and costs arising out of or relating to that use. To the extent Law permits, Stripe is not liable for any losses, damages or costs to you or your Card Authorised Users arising out of or relating to (y) unauthorised access to or use of a Card or your Stripe Issuing Account; or (z) your failure to use or implement anti-fraud measures, security controls or any other data security measures.
Unauthorised transactions. We may be able to refund money you have lost if the transaction is due to our mistake, fraud, or errors with your transaction. We will however not be liable for unauthorised transactions that are caused outside of the direct control of Airwallex. In particular, but without limitation, we are not liable (and you will be solely liable for all losses):
(a) if you do not promptly notify us of security issues;
(b) you have breached this Agreement or applicable Additional Terms;
(c) if we find that you or your Authorised Users, or anyone else acting on your behalf, has acted fraudulently or recklessly (and we will not refund you in any circumstances);
(d) if you or any Authorised User has with intent or negligence compromised the security of your Airwallex Profile or User Profile (as applicable) or the Airwallex Platform or failed to comply with your obligations to use them in accordance with this agreement, and to keep all log-in information and passwords confidential and secure;
(e) if you gave us incorrect instructions for the Payment (we may however provide you with reasonable assistance to assist you to recover the funds, where possible, in accordance with clause 9.2 but do not guarantee that this would be successful); and
(f) in any other circumstance outside of our direct control to the extent permitted by Applicable Law.
Unauthorised transactions. 9.01 The Cardholder agrees to carefully examine each Monthly Card Statement of the Card Account and report to the Bank within sixty (60) days from the date of the Monthly Card Statement any error or Unauthorised Transaction which has been recorded, and promptly thereafter confirm the same in writing,describing the error or Unauthorised Transaction, providing any documentary evidence and explaining the error or why the Transaction is believed to be unauthorised. If the Cardholder fails to comply with the said sixty (60) days' stipulation then the Bank reserves the right to regard that the Monthly Card Statement as final and conclusive except in circumstances where:-
(a) the Unauthorised Transaction arises from forgery or fraud by any third party including any employee, agent or servant of the Cardholder and in relation to which the Bank has failed to exercise reasonable care and skill;
(b) the Unauthorised Transaction arise from forgery or fraud by any employee, agent or servant of the Bank; or
(c) the Unauthorised Transactions arise from the default or negligence on the part of the Bank or any of its employees, agents or servants.
9.02 In the event that an error or Unauthorised Transaction is reported by Cardholder, the Bank agrees, save and except in circumstances which are beyond its control, to complete an investigation within ninety (90) days upon receipt of the Cardholder's first report.
9.03 Where a Cardholder reports an error or Unauthorised Transaction before a Payment Due Date, the Cardholder shall have the right to withhold payment of the disputed amount during the investigation period. The Bank agrees not to impose any Finance Charge on such disputed amount while the error or Unauthorised Transaction is under investigation and furthermore agrees not to provide any adverse credit report against the Cardholder to any third party. If as a result of the investigation the error or Unauthorised Transaction reported by Cardholder subsequently proves to be unfounded then the Bank reserves the right to re-impose a Finance Charge on the disputed amount over the full period from the date of the Transaction until conclusion of the investigation.
9.04 If the investigation reveals that an error or Unauthorised Transaction has taken place then the Bank shall promptly make all relevant corrections and deliver a correction notice to the Cardholder and the subsequent Monthly Card Statement shall be amended to the intent that the error or Unauthorised Transaction ...
Unauthorised transactions. If you believe there has been an unauthorised Purchase or Sale of Cryptocurrencies in your Cryptocurrencies Hub, please contact us immediately using the details set out above. PayPal’s Buyer and Seller Protection will not apply to activity in your Cryptocurrencies Hub. PayPal will, however, protect you from unauthorised activity involving the Purchase or Sale of Cryptocurrencies in your Cryptocurrencies Hub. When this protection applies, PayPal will cover you for the full amount of unauthorised activity, as long as you cooperate with us, and follow the procedures for unauthorised transactions process as described in the Resolving Problems section of the PayPal User Agreement. This means we will treat the unauthorised transaction in the same way as an “unauthorised payment” under the Resolving Problems section of the PayPal User Agreement for these purposes. However, the Cryptocurrency services are not within the jurisdiction of the FOS or the ECC and so any complaints about those services could not be referred to them. You will also need to follow the additional requirements described below related to your Cryptocurrencies Hub. If you claim there has been an unauthorised Purchase of Cryptocurrencies, you may not Sell those unauthorised Cryptocurrencies before you report the unauthorised Purchase to PayPal or while PayPal investigates your claim. If you Sell any Cryptocurrencies that you claim you did not Purchase, PayPal will deny your claim for those Sold Cryptocurrencies and you will not be able to recover any funds used to Purchase the Cryptocurrencies that you have Sold under such circumstances. We will continue to address your claim for any disputed Cryptocurrencies that you did not Sell. If PayPal determines the Cryptocurrencies were Purchased without your authorisation and provides you a refund of the funds used to Purchase the Cryptocurrencies, or if you have disputed the transaction and received a refund from any other source such as your bank or card issuer, you agree that PayPal will take back the Cryptocurrencies and will remove them from your PayPal Account. You agree not to Sell the Cryptocurrencies prior to PayPal removing the Cryptocurrencies. If you Sell the Cryptocurrencies for which you have received a refund (whether from PayPal or any other source such as your bank or card issuer) before PayPal removes the Cryptocurrencies from your PayPal Account, PayPal may recover from you the greater of
Unauthorised transactions. 29.1 You must read your statements carefully on receipt and review your online account regularly.
29.2 To help us prevent fraud, you must tell us immediately by calling us if you do not recognise any transaction shown on your statement or if you think any payment you have authorised has been executed incorrectly. If you do not tell us promptly (at the latest within thirteen (13) months of the date the transaction was deducted from your account), you may not be entitled to any errors corrected.
29.3 On receipt of a claim for refund, we may investigate before giving you a refund. Any investigation will be carried out as quickly as possible under the circumstances and unless we can show that the transaction was authorised by you, we will immediately refund the amount deducted and return your account to the position it would have been in if the unauthorised payment had not taken place. We may request additional information from you, if we have reasonable grounds for checking the circumstances of the payment.
29.4 If you query a payment more than eight (8) weeks after the debit date or a payment made outside the EEA (European Economic Area), we are not obliged by law to make a refund, but we will advise you if we can help or suggest other steps you could take.
29.5 If we later become aware of evidence that shows we are not responsible for the transaction, we will recover an amount equal to the refund from your account.
29.6 You will be responsible for all losses if information is received to suggest that you have: a) acted fraudulently, b) given a third party authorisation, c) you intentionally or with gross negligence failed to notify.
Unauthorised transactions. I will immediately report any suspected or known unauthorised use of the School Purchasing Card to the Westpac Banking Corporation (using the 24 hour emergency number) and to the Administration Officer. I will review the monthly statement issued to me by the Westpac Banking Corporation for completeness and accuracy, and will ensure that transactions appearing on the statement are matched to original supporting documentation. I will: ensure that discrepancies on the monthly statement are followed up with the Westpac Banking Corporation and promptly advised to the Authorisation Officer; ensure that goods, services, equipment or material paid for using the School Purchasing Card are actually delivered or provided; ensure that credits on the School Purchasing Card are raised as soon I become aware that goods, services, equipment or material are not delivered or provided in accordance with original expectations; verify that all transactions on the monthly statement can be reconciled with any report issued by the accounting program used by the school council from time to time; and submit any such report, together with the verified monthly statement to the Authorisation Officer for approval prior to any payment by the school council to the Westpac Banking Corporation.
Unauthorised transactions. (a) When the account holder is liable The account holder is responsible for any unauthorised use of their ANZ Card and PIN, including its use by anyone else in any way. The extent of the account holder’s liability will depend on whether you have been responsible in any way for the unauthorised use of your ANZ Card and PIN. If you have contributed to the loss arising from the unauthorised transaction: • through your fraud; • by voluntarily disclosing your password, PIN or TIC to anyone, including a family member or friend; • by keeping a record of the password, PIN or TIC (without making any reasonable attempt to disguise it):
(i) on the card or with the CRN;
(ii) on any article carried with the card or the CRN; which may be lost or stolen at the same time as the card or CRN; • by using your birth date or an alphabetic code which is recognisable part of your name as a password or PIN; or • by otherwise acting with extreme carelessness in failing to protect the security of your password or PIN; the account holder is liable for the actual losses which occur before ANZ is notified of the loss or disclosure of your password, PIN or TIC. If, after you become aware of the loss, theft, breach or misuse of your password, PIN, TIC or ANZ card, you unreasonably delay notifying ANZ, the account holder will be liable for losses between: • the time you first became aware of the aforementioned events, or in the case of the loss or theft of a card, should reasonably have become aware of the loss or theft; and • the time ANZ is actually notified of the relevant event. However, you are not liable for any loss: • which, over a set period of time, is greater than the transaction limit for that period; • caused by overdrawing your account or exceeding any agreed credit limit; • where ANZ has agreed the account could not be accessed electronically; or • as a result of conduct that ANZ expressly authorised you to engage in, or losses incurred as a result of you disclosing, recording or storing a password, PIN or TIC in a way that is required or recommended by ANZ for the purposes of you using an account access service expressly or impliedly promoted, endorsed or authorised by ANZ. If it is not clear whether you have contributed to the loss caused by an unauthorised transaction and where a password, ANZ Card or PIN was required to perform the unauthorised transaction, the account holder is liable for the least of: • the actual loss at the time ANZ is notified of the loss, theft o...
Unauthorised transactions. 5.1 If the Customer enters into an Unauthorised Counterparty Transaction, the Prime Broker may (but shall not be obliged to) take such steps as it considers desirable or necessary acting in its sale discretion to discharge, offset, cancel or hedge its rights and obligations under the Unauthorised Counterparty Transaction. Such steps may include (without limitation):
(a) entering into one or more Transactions or other transactions with a third party to reduce or offset its obligations under the Unauthorised Counterparty Transaction (an “Offsetting Transaction”);
(b) entering into an agreement with the Counterparty to compromise, settle or cancel (in whole or in part) the Unauthorised Counterparty Transaction (a “Settlement Transaction”);
(c) amending the terms of or cancelling the Unauthorised Customer Transaction to which the Unauthorised Counterparty Transaction relates; or
(d) amending the terms of or cancelling any unsettled Authorised Customer Transaction.
5.2 The Customer hereby gives its consent to the amendment or cancellation of any Customer Transaction under clause 5.1.
5.3 This Clause 5 shall survive termination of this Agreement
Unauthorised transactions. 15.1. In the event that a transaction has taken place on your account which you did not authorise or which was made by mistake, please let us know immediately (and no later than 13 months after the transaction was processed). Subject to paragraph 16.3, we will normally refund any payments you did not authorise.
15.2. We will ask you to provide information (which may include documentary evidence) so that we can investigate how you suffered a loss, and who is responsible. Please ensure you provide such information in a clear and legible format, and without delay.
15.3. You can ask us to refund an amount taken from your account if you satisfy the following conditions: • you agreed a payment could be taken, but did not specify the actual amount; • the payment amount taken was higher than you reasonably expected it to be, and we agree that the amount was more than could be reasonably expected, taking into account your previous spending pattern, the agreement and any other relevant circumstances; and • you ask us to make the refund within 8 weeks of the payment being taken from your account. We may ask you for more information to investigate a request. Once all information is received, we will either provide you a refund or tell you we cannot provide a refund.
15.4. If you have been tricked into transferring money to an imposter, you must contact us immediately. By “tricked into transferring money to an imposter” we mean: • you intended to transfer money to someone’s account in the UK, but were tricked into transferring it to someone else; or • you transferred money to a UK account for what you thought was a genuine purpose, but which was fraudulent. We will investigate the transaction and confirm whether or not you are entitled to a full or partial refund. This will usually be no later than 15 business days after the day you told us, but may take longer in exceptional circumstances. If we decide that you are entitled to a refund, the payment will be credited to your account without delay. We will not refund a transaction if, in light of the circumstances when you made the payment, we determine that you should have known you were transferring money to an imposter.