Common use of LIABILITY OF JOINT ACCOUNT HOLDERS Clause in Contracts

LIABILITY OF JOINT ACCOUNT HOLDERS. A joint account shall not be approved as a Designated Account unless such joint account may be operated by any account holder singly. Where any joint account is converted to a joint account which may be operated by both account holders jointly, we may at our absolute sole discretion, terminate any Card and any Tokenised Card associated with such joint account, and terminate such cards’ participation in any Digital Payment Service, and such joint account shall cease to be a Designated Account. Where the Designated Account is in joint names and may be operated by any account holder singly, we may at our absolute sole discretion, at the request of any holder of the Designated Account, issue the Card(s) to such holder, and/or allow such holder to enrol such Card(s) on his/her own Enabled Device through any Digital Payment Service. All the account holders of the joint Designated Account are jointly and severally liable for, and must pay us on demand, any and all amounts due and owing on the Card and/or Designated Account and/or under this Agreement (including where such amounts arise from Card Transactions made via any Enabled Device(s)), as if each account holder of the joint Designated Account is the Principal Cardmember.