Preauthorization Holds. As more fully explained in the “Freedom Debit Card Preauthorization Holds” paragraph of the “Electronic Fund Transfers Agreement and Disclosures” in the Disclosures and Schedules, when you use your Card at certain merchants, the merchant may request a preauthorization hold from us to cover the final transaction amount. The preauthorization hold may be in a greater amount than the actual purchase amount and may be placed on your account for up to three days. These preauthorization holds affect (reduce) the availability of funds in your account, including without limitation, to pay for checks drawn on your account, debits and Freedom Debit Card purchases, ACH transactions, ATM withdrawals, fees, and any other withdrawal or payment transactions on your account. You cannot access funds that are subject to a preauthorization hold—they are not available funds. Preauthorization holds may remain on your account for up to three days after the transaction, even after the transaction has been posted to your account. Alternatively, the pending transaction may be posted to your account after the preauthorization hold has been released. You must ensure that, at all times, sufficient funds are available (including to cover any preauthorization holds placed on the account) and remain in your account to pay for your Freedom Debit Card transactions. An authorization is not an indication or a guarantee that a purchase will not result in additional fees being charged to or debited from your account when the transaction is posted to your account. For example, if a preauthorization occurs, and subsequent transactions are posted to your account before the pending transaction (that was the subject of the preauthorization) is posted, causing the account’s Available Balance to fall below $0, a fee will be assessed when the pending transaction does post to the account (and fees may also be assessed for the additional intervening transaction(s) to the extent they resulted in a negative Available Balance at the time they posted to the account).
Preauthorization Holds. When you use your Debit Card at certain merchants such as pay-at-the-pump gas stations, restaurants, hotels, airlines, and rental car companies, the merchant may request a preauthorization hold to cover the amount of the transaction. The preauthorization hold may be greater than the actual purchase amount. We will place up to a three (3) day hold on your Account for the amount of a preauthorization hold. This hold may remain on your Account until the transaction clears that matches the hold. There may be some transactions that do not match the hold when they clear and the hold will continue until the third day even after the transaction has been paid. Preauthorization holds affect the availability of funds in your Account to pay for checks and other withdrawal orders presented on your Account. You acknowledge and agree that we may place merchant preauthorization holds on your Account in connection with Card transactions you request, and we are not liable for any damages or fees you may incur for dishonor of items or otherwise because of such holds.
Preauthorization Holds. As more fully explained in the “Merchant Preauthorization Holds” paragraph of the “Electronic Fund Transfers Agreement and Disclosures” in the Disclosures and Schedules, when you use your Card at certain merchants that post transactions for amounts different than the initial authorization hold, (i.e. hotels, gas stations, and restaurants), the merchant may request a preauthorization hold from us to cover the final transaction amount. For example, when you use your Debit Card at a gas station, and this merchant creates an authorized temporary 3-day hold on your funds, with a predetermined estimate of a typical charge, perhaps $75; this estimate is not available for you to spend and not displayed in your Available Balance. The temporary hold on your Account is released when the transaction posts or the hold expires.
Preauthorization Holds. When your Card or other network enhancement feature related to the Card is used at a point-of-sale location to obtain goods or services or obtain cash, the merchant may attempt to obtain a pre-authorization from us for the transaction. We may place a hold on your Account for the amount of the preauthorization request for a duration based on the vendor type. This can range from 2 days to 30 days and may vary in some cases from the amount of the actual purchase, depending on the merchant’s request. If the preauthorization request varies from the amount of the actual transaction, payment of the transaction may not remove the hold, which will remain on the Account until the end of the hold period. This hold may affect the availability of funds from your Account to pay checks or for other electronic fund transfers. We will not be responsible for damages for wrongful dishonor of any items that are not paid because of the hold.
