A negative cash balance can happen when a banking institution rejects a deposit and pulls back the funds.

It can sometimes take up to seven business days for a bank to notify Wealthsimple about a rejected deposit. In the meantime, you may have spent or sent funds in your account that weren’t actually there.

Fix a negative cash balance in your account

In order to fix a negative cash balance in your account, you will need to initiate a one-time deposit for the negative amount into your Cash account.

 Reasons for a rejected deposit

Below are the most common reasons why a bank might reject a deposit –

• There were not enough funds available in your bank account to complete the deposit (commonly referred to as 'insufficient funds', or NSF)
• The funds in your bank account were under a clearing period and couldn’t be moved
• You tried to deposit from something other than a chequing or savings account
• Your bank account number does not match the institution and transit number

If you’re not sure why a deposit was rejected, we recommend contacting your bank.