What does 'Insufficient balance on payment' mean? (2024)

FAQs

What does 'Insufficient balance on payment' mean? ›

The 'Insufficient balance on payment' error message means no remaining balance is to be modified. This message may appear when you try to modify a payment, such as a capture of funds.

“Insufficient funds” is a checking account status where the balance is deficient. It is a banking term that may appear as a notice in bank statements or receipts. The insufficient funds status describes the scenario where a checking account does not hold sufficient funds to cover transactions.

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.

Insufficient Funds: Usually, payments fail simply because the customer does not have the required funds available in their account to cover the transaction – or because they have exceeded their credit limit. In either case, their bank will typically reject the payment.

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.

If there is not enough money in your bank account, your debit card will be declined. The transaction will not go through if the credit is already over the limit. In short, it (transaction) will be denied. Credit cards do not get declined because you don't have enough money in your checking account.

If funds are not available from the payer's bank account, it is deemed as insufficient and an NSF fee is assessed. Banks provide account holders with several options to avoid the penalties associated with an insufficient funds transaction.

If your account does not contain sufficient funds to cover the payment, any overdraft protection you may have on the account will be used. If you still do not have enough funds to cover the payment(s), you will be charged a fee for insufficient funds (NSF).

Something adequate is sufficient, and something inadequate is insufficient (in- meaning "not"). If you have $100 in the bank and you try to use a debit card for a $102 purchase, even though you're close to having enough, your funds are insufficient to cover the sale.

Insufficient funds is a situation when your account does not have enough money available to cover a payment. For example, you might write a check or sign up for automatic electronic payments to your electric company.

What are examples of insufficient funds? ›

Example. If you have a checking account with a balance of $100 and you try to make a purchase for $150 at a store, the transaction will likely be declined because you have insufficient funds in your account to cover the purchase.

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.

Having a non-sufficient funds situation can lead to penalties, a bad impact on one's credit score, and a criminal liability.

Certain conditions, such as diabetes, heart disease, stroke, or problems with your vision, thyroid, nerves, or blood vessels can cause dizziness and other balance problems.

Insufficient credit history means you have no proven track record with creditors that lend money or other assets. This prevents lenders from assessing your credit risk. Insufficient credit history means you have no proven track record with creditors with regard to borrowing money or other assets.

If there are insufficient funds in the Cash App balance, a customer's linked debit card will instead fund the entire purchase. If there are no linked payment sources and the Cash App balance doesn't cover the cost of the transaction, the payment will be declined.