Common use of Merchant Transactions Clause in Contracts

Merchant Transactions. You can use your debit card to pay for purchases at any merchant location that accepts Mastercard® up to your individual daily limit.  Direct Debiting of Your Account. When making a merchant purchase, you authorize us to debit your designated account for the total amount of the transaction as shown on any sales draft or withdrawal order originated by use of your debit card, whether or not you signed it, and we are permitted to handle such sales draft or withdrawal orders in the same way we handle checks drawn on your designated account, with the exception that you will have no right to stop payment.  Prior Authorization Required. We may require the merchant or bank that honors your debit card to obtain prior authorization for any transaction over a certain dollar amount, which is set at our discretion and may be changed from time to time.