How is Debit Transaction defined in a legal contract?
- Debit Transaction means a transaction where payment is made by debiting funds from an account the cardholder's nominated card can access. Seen in 10 SEC filings
- Debit Transaction means any transaction resulting in a debit of funds from your account. Seen in 7 SEC filings
- Debit Transaction means any payment made or charged for any goods, services and/or other benefits by using the card, either with a signature or a PIN.
Seen in 6 SEC filings - Debit Transaction means a payment made out of your account.
Seen in 6 SEC filings - Debit Transaction means a debit performed on an account via any method of account access. This includes check withdrawals and all fund transfers.
Seen in 6 SEC filings - Debit Transaction means a transaction effected under a known payment system, using the card, with or without a PIN and may include cardholder's signature. At self-serve terminals like petrol station kiosks and internet terminals, the Cardholder's signature is not required.
Seen in 5 SEC filings - Debit Transaction means a transaction processed under a known payment system, through the use of the card with PIN or contactless payment, or accompanied by the cardmember's signature. Seen in 4 SEC filings
- Debit Transaction means a transaction where a payment is made by the cardholder selecting a check or savings account that is authorized for access by the cardholder's nominated card.
Seen in 4 SEC filings
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of debit transaction' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Debit Transaction means payment made from a designated account via any recognized method, including card, check, or electronically.
Relevant Contract Types
- Payment Agreement Contract
- Sales Contract
- Service Agreement
- Supply of Goods Agreement
- Purchase Order Contract
Relevant Circumstances
- Settling invoices for services or goods
- Repaying a debt or loan
- Conducting transactions in regular business operations
Relevant Sectors
Genie Definition 2
Debit Transaction means any payment using a card recognized by [Payment System], with or without a PIN or a signature.
Relevant Contract Types
Relevant Circumstances
- Online purchases from e-commerce platforms
- Payments at point-of-sale terminals
- Settling invoices electronically
- Paying utility bills
Relevant Sectors
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Debit Transaction means payment made from a designated account via any recognized method, including card, check, or electronically.
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