Common use of Modes of Payment Clause in Contracts

Modes of Payment. Purchased goods, availed services (including those payable in installments), cash advances, fees and charges shall be paid by the Cardholder and/or supplementary member/s, if any, in cash or check directly to PNB and PNB Savings Bank (PSB) branches, other authorized bank or payment centers or other available channels such as, but not limited to, ATMs, internet banking or mobile banking on or before the due date indicated in the SOA without necessity of demand. Cardholders with PNB deposit accounts may also pay by availing of PNB's Automatic Debit Arrangement (ADA) facility, provided that, funds from the enrolled deposit account must be cleared and available for debit at least one banking day before the due date stated in the SOA of the Credit Card/s to be paid. The Cardholder agrees that checks used for payment will be credited to the Cardholder's account only upon collection in accordance with usual transit/clearing schedules for local and outstanding credits net of charges from the drawee bank and PNB's own charges. In case the Cardholder is issued two or more Credit Cards by PNB, the Cardholder hereby authorizes PNB, without any obligation on its part, to unilaterally apply without prior notice, the Cardholder's payments to any of the Cardholder's accounts at the option and sole discretion of PNB.

Modes of Payment. Purchased goods, availed services (including those payable in installments), cash advances, fees and charges shall be paid by the Cardholder and/or supplementary member/s, if any, in cash or check directly to PNB and PNB Savings Bank (PSB) branches, other authorized bank or payment centers or other available channels such as, but not limited to, ATMs, internet banking or mobile banking on or before the due date indicated in the SOA without necessity of demand. Cardholders with PNB deposit accounts may also pay by availing of PNB's Automatic Debit Arrangement (ADA) facility, provided that, funds from the enrolled deposit account must be cleared and available for debit at least one banking day before the due date stated in the SOA of the Credit Card/s to be paid. The Cardholder agrees that checks used for payment will be credited to the Cardholder's account only upon collection in accordance with usual transit/clearing schedules for local and outstanding credits net of charges from the drawee bank and PNB's own charges. In case the Cardholder is issued two or more Credit Cards by PNB, the Cardholder hereby authorizes PNB, without any obligation on its part, to unilaterally apply without prior notice, the Cardholder's payments to any of the Cardholder's accounts at the option and sole discretion of PNB.