HOW TO FIX: Insufficient Matic Funds for Network Fees (2024)

FAQs

HOW TO FIX: Insufficient Matic Funds for Network Fees? ›

"Not Enough MATIC"

Why I am getting an "insufficient funds" error? ​ This means you do not have enough of the network's native token to cover gas fees. Generally, across EVM-compatible networks, each transaction (including token and contract transactions) requires gas, the price of which is changeable.

If you're receiving this error it means that you might not have enough Matic (also known as polygon) tokens on the Polygon network. It can get a bit confusing because Matic tokens are on Polygon, Ethereum, and other networks too. But you need those matic/polygon tokens on the Polygon network to pay for gas there.

If you encounter this issue while trying to swap or interact with your cryptocurrencies, don't worry! This error simply means that the account from which you are trying to swap the cryptocurrencies does not have enough balance in the native coin to pay for the network fees.

If you're getting this error (or one similar) while trying to confirm a transaction, it's likely you do not have enough ETH in your wallet to pay for the transaction fees. Every time you want to send, swap, or otherwise interact with your coins and NFTs on-chain, it requires a gas fee paid in ETH.

The "insufficient funds" error

In other words, what you are trying to buy costs more than what you have in your bank account. Solution: Refill the funds on your bank account in order to fix this error.

1. If you have recently funded your account, it's possible that the funds did not fully clear into the account when you attempted to make a payment. 2. If you are using overdraft or credit facilities on your account.

"Not Enough MATIC" error indicates that you do not have enough MATIC in your wallet to cover the transaction fees on the Polygon network. Polygon requires MATIC to pay for gas fees. Make sure you have enough MATIC to cover the transaction fees.

Polygon was initially called Matic, but in 2021 it was rebranded as Polygon. The coin still goes by the ticket handle MATIC, and it rewards people who validate transactions on the network.

The Polygon Matic network's gas fee typically ranges from $0.0005 to $0.2, and it has been increasing. In fact, according to crypto specialists, the Polygon Matic gas fee may return to $0.1 in the near future. The average price of a single transaction is known as the cost per transaction.

What does insufficient fees mean? ›

An insufficient funds fee (sometimes referred to as a non-sufficient funds fee or NSF fee) can occur when you don't have enough money in your checking (spending) account to cover the entire transaction. Most financial institutions will reject the transaction and charge a fee.

There are several reasons why a debit card may be declined even if you have money in your account. Common reasons include travel and reaching your daily purchase limit. Stay on top of your cards and consider using budgeting apps to help avoid debit card denial.

“Insufficient funds” is a bank account status that is also known as non-sufficient funds (NSF). If a transaction draws money from a bank account while the account balance is lower than the amount drawn, the account will thus be in the insufficient funds status.

This error means that the funds available in your wallet are lower than the recommended bitcoin miner fee level for getting a transaction added to the Bitcoin blockchain ("confirmed"). You still have access to your money, but it is not possible with your current settings to send the funds to another bitcoin address.

Tips to avoid high fees include optimizing transaction timing, utilizing rebate offers, and choosing transaction types wisely. Monitoring network congestion, using gas tokens, calculating fees in advance, and considering Ethereum 2.0 are other strategies.

If the network is heavily loaded with pending transactions, you can expect the fee to be higher as block creators prioritize transactions with higher fees. You can check and adjust the fee in the 'Network Fee' tab before your crypto transaction.

This message is typically displayed when the cardholder's account balance is not enough to cover the transaction amount, including any applicable fees or taxes.

This error means that the funds available in your wallet are lower than the recommended bitcoin miner fee level for getting a transaction added to the Bitcoin blockchain ("confirmed"). You still have access to your money, but it is not possible with your current settings to send the funds to another bitcoin address.

Sometimes, this balance may get out of sync due to a variety of reasons, including chain reorganization, lag time in data indexing, or incorrect token pricing information. These issues will typically be resolved on their own in a short amount of time as our systems catch up to the latest chain activity.

Clear Your Browsing Data. If you experience a transaction failure error on MetaMask when purchasing tokens on web3 sites, you may also try clearing your browsing history. Your plugins may not be working properly because some of your surfing data may have become corrupted.