Using Your Debit Card. You may use your Debit Card to make one-time and recurring Debit Card Transactions, to withdraw cash at ATMs, and to check your Account balance at participating ATMs. Debit Card Transactions that exceed the Available Balance of your Account may be declined at the point of sale or ATM. American Express® Debit Cards and American Express credit cards are different payment mechanisms that are not linked. Negative Balances in your Rewards Checking Account will not be transferred to or paid by your credit card account. Your American Express credit cards may not be used to make Debit Card Transactions. You may make Foreign Currency Debit Card Transactions from your Account that are paid in currencies other than U.S. Dollars. We will charge you a fee for this service as detailed in this Checking Schedule. Foreign Currency Debit Card Transactions out of your Account are paid to the recipient of the transaction in the specified foreign currency and your Account is debited the equivalent amount in U.S. Dollars based on a currency conversion rate selected by American Express. American Express’s affiliate, AE Exposure Management Ltd. (“AEEML”), converts the amount to be paid in the foreign currency into U.S. Dollars on the date we or our agents process the currency conversion. Unless a particular rate is required by law, AEEML will choose a conversion rate that is acceptable to us for the relevant date. The rate AEEML uses will be no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior Business Day. This conversion rate may differ from the rates that are in effect on the date of your transaction. We charge a Foreign Exchange Fee for transactions paid in any currency other than U.S. Dollars. This fee will be applied in addition to the funds debited against your Account for payment of the transaction in the foreign currency. Foreign Currency Debit Card Transactions are not available in all currencies and the currencies for which foreign currencies may be paid may change at any time at our discretion. An authorization hold is a restriction that we place on funds in your Account that decreases your Available Balance in order to maintain sufficient funds in your Account to settle transactions that you make with your Debit Card. When you make a Debit Card Transaction, such as a point- of-sale purchase, the merchant or payee will generally submit a request to us to verify that there are sufficient funds in your Account to make the transaction and request authorization to make the transaction. This request is generally followed by a second request that the merchant or payee makes for funds to be transferred from your Account to settle the transaction. The amount of funds required to settle such transaction will remain in your Account until settlement but will be deducted from your Available Balance and will not be available for further transactions. In such case, your Current Balance may appear larger than your Available Balance until the transaction is settled. The amount of funds required to settle a Debit Card Transaction may be different than the amount of the authorization hold placed on your Account for the transaction. For example, if you ask a restaurant to add a tip to a Debit Card Transaction after the transaction has been authorized, the amount of funds held in your Account will be less than the amount required to settle the transaction. If there are not sufficient additional funds in your Account at settlement to cover the difference between the authorization hold and the amount required for settlement, a Negative Balance may appear in your Account. In the event that a Negative Balance appears in your Account, you will be obligated to repay the amount of the Negative Balance, along with applicable collection costs and/or legal fees, immediately upon notice to you. Please see the “Insufficient Funds/Negative Balance” section of your Deposit Account Agreement for more information.
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Using Your Debit Card. You may use your Debit Card to make one-time and recurring Debit Card Transactions, to withdraw cash at ATMs, and to check your Account balance at participating ATMs. Debit Card Transactions that exceed the Available Balance of your Account may be declined at the point of sale or ATM. American Express® Debit Cards and American Express credit cards are different payment mechanisms that are not linked. Negative Balances in your Rewards Checking Account will not be transferred to or paid by your credit card account. Your American Express credit cards may not be used to make Debit Card Transactions. You may make Foreign Currency Debit Card Transactions from your Account that are paid in currencies other than U.S. Dollars. We will charge you a fee for this service as detailed in this Checking ScheduleSchedule (please note, effective July 18, 2024, this fee will be temporarily suspended until further notice). Foreign Currency Debit Card Transactions out of your Account are paid to the recipient of the transaction in the specified foreign currency and your Account is debited the equivalent amount in U.S. Dollars based on a currency conversion rate selected by American Express. American Express’s affiliate, AE Exposure Management Ltd. (“AEEML”), converts the amount to be paid in the foreign currency into U.S. Dollars on the date we or our agents process the currency conversion. Unless a particular rate is required by law, AEEML will choose a conversion rate that is acceptable to us for the relevant date. The rate AEEML uses will be no more than the highest official rate published by a government agency or the highest interbank rate AEEML identifies from customary banking sources on the conversion date or the prior Business Day. This conversion rate may differ from the rates that are in effect on the date of your transaction. We charge a Foreign Exchange Fee for transactions paid in any currency other than U.S. Dollars. This fee will be applied in addition to the funds debited against your Account for payment of the transaction in the foreign currency. Foreign Currency Debit Card Transactions are not available in all currencies and the currencies for which foreign currencies may be paid may change at any time at our discretion. An authorization hold is a restriction that we place on funds in your Account that decreases your Available Balance in order to maintain sufficient funds in your Account to settle transactions that you make with your Debit Card. When you make a Debit Card Transaction, such as a point- of-sale purchase, the merchant or payee will generally submit a request to us to verify that there are sufficient funds in your Account to make the transaction and request authorization to make the transaction. This request is generally followed by a second request that the merchant or payee makes for funds to be transferred from your Account to settle the transaction. The amount of funds required to settle such transaction will remain in your Account until settlement but will be deducted from your Available Balance and will not be available for further transactions. In such case, your Current Balance may appear larger than your Available Balance until the transaction is settled. The amount of funds required to settle a Debit Card Transaction may be different than the amount of the authorization hold placed on your Account for the transaction. For example, if you ask a restaurant to add a tip to a Debit Card Transaction after the transaction has been authorized, the amount of funds held in your Account will be less than the amount required to settle the transaction. If there are not sufficient additional funds in your Account at settlement to cover the difference between the authorization hold and the amount required for settlement, a Negative Balance may appear in your Account. In the event that a Negative Balance appears in your Account, you will be obligated to repay the amount of the Negative Balance, along with applicable collection costs and/or legal fees, immediately upon notice to you. Please see the “Insufficient Funds/Negative Balance” section of your Deposit Account Agreement for more information.
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