Last updated on January 2nd, 2022 at 08:57 am
Why is my Cash App Card balance negative?
Usually, you don’t have the provision for charging an overdraft on your Cash App Card. This is because there is a restriction that doesn’t allow you to purchase something with more value than your account balance. However, some situations can lead to your account balance becoming negative.
The first instance is where someone has accidentally credited some amount to your App account and then enters into a payment dispute with Cash App asking for a refund. Meanwhile, you have spent the entire amount credited to you accidentally; then, your account balance may be reflecting a negative balance.
Another instance could be when you have included a tip for a restaurant bill. If the restaurant didn’t deduct the tip amount immediately and processed it later, the App could in that instance also reflect a negative value balance.
The third kind of scenario is when you do some online shopping, the seller may not immediately deduct the money from your account and only do so when shipping the product. This happens because you have already approved the seller’s payment, but by the time deductions happen, you might have spent it on other purchases.
Can Cash App have a negative balance?
If you are wondering, can your Cash App account have a negative balance, then the answer is a big “yes.” Sometimes some default payments may lead to your Cash App balance displaying a negative overdraft balance.
How to fix negative Cash App balance?
Do, you want to know how to get cash app out of negative balance.
The answer is simple, replenish your negative balance amount as soon as possible by recharging your App Card from a retail store or your bank account via the Cash App. If you feel the deductions are not valid, you can contact the customer support team to resolve the negative balance issue.
What happens if my Cash App balance is negative?
Since this App doesn’t allow customers to overdraw from the App account, therefore, you would not be allowed to overdraw more than $500. Once you have exceeded that amount, you won’t be permitted to authorize payments unless you have refilled your App account.
However, a recent new feature has been added known as the Cash App borrow feature that lets you borrow an amount somewhere between $20 to $200.
Does Cash App charge for a negative balance?
If your Cash App balance has become negative accidentally, then you can recharge your account. Fortunately, Cash App doesn’t charge any overdraft fees. But your bank may charge an overdraft fee.
How long can your Cash App be negative?
It is advisable not to let the App amount be negative for a very long duration. If you have the capacity, you should replenish the amount or recharge your Cash App Card sooner. Although this App won’t charge you for the negative balance, your bank might charge you heavily for it.
In case you are borrowing money from Cash App, you will have a month to pay the loan. The borrowing limit is between $20 to $200, and a 5% interest fee is imposed upon the loan.