Having a negative bank balance is quite a common thing these days. For some it does not matter and for many it might be a serious matter of concern. Remember that negative bank balance can harm your credit score and make you bear a heavy penalty. Almost all the banks' accounts can go negative due to a range of variety. But the million dollar question is - Will Cash App let you go negative? If yes then how to get Cash App out of negative balance? Such questions will no more haunt you as Cash App negative balance is what we are going to discuss in today's helping post.
Before we proceed further let me clear one thing. Cash App has not been designed to let spend more money than you actually have in it. So, does it mean you can't overdraft with Cash App? Answer is surprisingly- No. Though Cash App has no overdraft feature still your Cash App balance can go negative. For more information and assistance, feel free to contact us.
Let's get started to understand when and how your Cash App balance can go negative and how you can fix it.
Can you overdraft with a Cash App?
Whether you are a verified or unverified Cash App user, take one thing on a serious note. You can't spend or use more money than you have in your Cash App balance. But, retailers or sellers might charge your account short or long after the purchase you made in the past. And when it happens, your Cash App balance will surely get negative if the available balance is insufficient to cover the charges. A full explanation is given in the sections below. Read on to find more.
Cash App overdraft limit
Let me put the first thing first. Remember what I have told you. Cash App is not designed for overdraft. With that being said, Cash App has no overdraft limit. However, the chances are quite less but having a negative Cash App balance is undeniable up to your recent last or past purchase.
Why is the Cash App balance negative?
A large number of cashapp users think that their Cash App balance can't go negative. And to a large extent this general perception is right but it is entirely not true. There are some cases that might result in having a Cash App overdraft balance. One of the most common reasons to have a negative balance on a Cash App card is the infliction of the secondary charges long after the purchase such as tips. For example you made a purchase of $50 at any restaurant and gave a tip of $5 to a waiter but you had a balance of only $50. What will happen next is that the restaurant will charge Cash App for $55 as a result of which Cash App will overdraft your balance with -$5.
Secondly, suppose you have placed an order for shoes online. You entered all the details of your Cash App card but due to shipping related concerns online retailers put your order on hold. And later on being unaware about the hold, you spend your Cash App card money and end with having insufficient balance. But then the retailer delivers the shoes and charges your Cash App card and your Cash App balance goes to negative. Though a piece of good news is that such incidents are quite rare and normally don't happen.
What happens if you have a Cash App negative balance?
Having a negative balance on a Cash App does not necessarily mean that you can't use your Cash App to send and receive money. You definitely can continue to use your wallet. Cash App will auto deduct the negative balance as soon as you receive money or load balance to your Cash App wallet. Thinking to delete your Cash App account with a negative balance? Disregard this thought as it is not going to happen. Be informed that the Cash App account could not be deleted or closed until or unless you clear the Cash App overdraft balance.
How to fix a Cash App negative balance?
If your Cash App balance has gone negative, first of all, you need to check your Cash App transaction history. Tap the Cash App activity tab to see who has charged your Cash App card. After that contact the merchant or retailer to understand the exact reason for charging your card long after the purchase. If you think that the charges are unauthorized, you can request the merchants to waive off the charges. Also, you can involve Cash App customer service, if you wish.
On the other hand, if the charges are valid and legitimate then you simply can add money to your Cash App account using your linked debit card. Or you can request money from your other Cash App contacts. Once your account is loaded with money, the Cash App will charge the negative amount and overdraft balance will settle.