A deposit request will fail if your linked bank account does not have sufficient funds to cover the funds transfer.
When a deposit is initiated from a bank account with insufficient funds (NSF), it can take up to seven business days for your bank to pull these funds back, at which point making us aware that the transfer was rejected as NSF.
Since we strive to have all deposits invested within one business day, our policy is to invest funds before they settle. For NSFs instances, this can put accounts into negative cash positions. If your deposit has been rejected for insufficient funds you'll be receiving an email for us asking whether you'd like to initiate a new deposit to to cover the securities we purchased for you.
If you had sufficient funds for this deposit, please ensure the following:
- Confirm that the funds transfer was initiated only once and the value is correct.
- The deposit was initiated from the correct bank account. You can cross reference the last few digits of your connected bank accounts from the Banking Page with the account that the funds are in on your online banking session. New banks can be linked on the Add Bank Page.
- The funds are available and settled in your bank account. Depositing funds from any uncleared checks could cause an NSF rejection.
Once the issue is resolved, feel free to reinitiate your transfer on the Funding Page. If the deposit isn't replaced within seven days, we will automatically reverse the trades made on your account to bring your account back into good standing.
Our custodian charges $30 for each instance of NSF; however, we will reimburse these charges. If this is the case, you will see your refund within 5-7 business days. We will not be able to reimburse any fees charged to you by your bank. If you feel that you did not initiate the deposit that caused an NSF, please send us a request and we can run an audit of our logs to determine where the funds transfer originated from.