Extra Debit Payment Service Sample Clauses

Extra Debit Payment Service. When you complete a transaction using your Debit Card or make a purchase from the Extra Rewards Program using an ACH debit, Extra deposits funds into your Funding Source (for debit card transactions) or provides necessary purchase funds for the Extra Rewards Store (for purchases from the rewards store that require U.S. currency) in the form of advances made by Extra on your behalf pursuant to these Terms (the “Extra Debit Payment Service” or “EDPS”). Extra is not a lender and does not provide loans. The EDPS and related Extra Services provide access to spending availability to allow you to use your Debit Card or in Extra Rewards Program transactions as limited based on your available Spend Power (as defined below in Section 1.b.iv). You acknowledge and agree that by providing your ACH authorization, you authorize us to instruct ▇▇▇▇▇▇ to initiate ACH debits to repay funds that Extra advances on your behalf pursuant to the EDPS and that your history of successful or failed repayments of such advanced funds may be reported to one or more credit reporting agencies. By agreeing to these terms, you consent to our evaluating whether you are qualified to use the Services, including the EDPS. We do not charge interest or fees on amounts advanced on your behalf pursuant to the EDPS, although fees may be assessed on your use of the Debit Card pursuant to the terms of the Debit Card Cardholder Agreement.

Extra Debit Payment Service. When you complete a transaction using your Debit Card, Extra deposits funds into your Funding Source in the form of advances made by Extra on your behalf pursuant to these Terms (the “Extra Debit Payment Service” or “EDPS”). Extra is not a lender and does not provide loans. The EDPS and related Extra Services provide access to spending availability for use in Debit Card transactions in the form of Spend Power (as defined below in Section 1.b.iv). You acknowledge and agree that you are obligated to repay funds that Extra advances on your behalf pursuant to the EDPS and that your history of successful or failed repayments of such advanced funds will be reported to one or more credit reporting agencies. By agreeing to these terms, you consent to our evaluating whether you are qualified to use Extra’s Services, including the EDPS. We do not charge interest on amounts advanced on your behalf pursuant to the EDPS although fees may be assessed on your use of the Debit Card pursuant to the terms of the Debit Card Cardholder Agreement.

Extra Debit Payment Service. Extra is not a lender and does not provide loans nor does it extend credit. To allow us to report credit history, we have, however, structured the product as set forth below. In order to provide authorizations to the Issuing Bank, we will make funds available to you in an amount we determine. We call this amount your EDPS. Funds from the EDPS will be used to fund transactions made with your Debit Card. We will determine whether to authorize use of the EDPS by evaluating the amount of funds in your Partner Account at or before the time of a transaction. We will not use or access your credit score. By agreeing to these terms, you consent to our evaluating whether you are qualified to use the EDPS. Other than Debit Card fees (see Section 1.f), we do not charge interest for use of the EDPS.

Extra Debit Payment Service. When you complete a transaction using your Debit Card or make a purchase from the Extra Rewards Program using an ACH debit (as applicable), the Issuing Bank will use any funds located in the Funding Source. In the case of insufficient funds, the Services may enable you to fund your Funding Source and transact using the Debit Card. 1. If you do have a Line of Credit. If there are insufficient funds in the Funding Source, Lead Bank may allow you to access an overdraft line of credit (“OLOC”) to fund the transaction. The OLOC is subject to the separate terms of the Overdraft Line of Credit Agreement. Your eligibility for the OLOC is the decision of the Lead Bank. If Lead Bank authorizes an extension of credit, Lead Bank deposits funds into your Funding Source (for Debit Card transactions) or provides necessary purchase funds for the Extra Rewards Store (for purchases from the rewards store that require U.S. currency) in the form of advances made by Lead Bank through Extra on your behalf pursuant to these Terms and the OLOC Agreement. Extra is not a lender and does not provide loans; all credit is extended by Lead Bank. The OLOC and related Services may be used to fund your Funding Source or to make purchases in connection with the Extra Rewards Program transactions and are limited based on your Available Spend Power (as defined below in Section 1.b.iv). You may enroll in an automatic repayment program, pursuant to which you acknowledge and agree that by providing your ACH authorization, you authorize us to (i) instruct ▇▇▇▇▇▇ to initiate ACH debits to repay funds that Lead Bank advances on your behalf pursuant to the OLOC as set forth below and (ii) that your history of successful or failed repayments of such advanced funds may be reported to one or more credit reporting agencies. By agreeing to these terms, you consent to our evaluating whether you are qualified to use the Services, including the OLOC. A balance on your account must be repaid within fourteen days. You may also enroll in an automatic repayment program pursuant to which Extra will instruct Dwolla to initiate an ACH for the transaction amount on the 14th day after the transaction, unless you voluntarily authorize us to ACH the funds before the 14th day after the transaction. Lead Bank does not charge interest or fees on amounts advanced on your behalf pursuant to the OLOC, although fees may be assessed on your use of the Debit Card pursuant to the terms of the Debit Card Cardholder Agreement. 2...