When a deposit is rejected and recalled by your bank, it, unfortunately, temporarily causes a negative balance in your account which you can learn more about from the SEC here.
You recently initiated a deposit to purchase stocks and while the stocks were purchased your bank rejected and recalled your transfer. Not to worry as you can quickly and easily bring your account back to full strength by retrying the original deposit now.
Why it happened:
Usually, your bank rejects a deposit due to:
Declined Transfer (by your bank)
Account Type Incorrect (Savings, Joint, Business accounts are not compatible)
Please note that Public is charged a $30 fee per ACH reversal by our clearing firm, Apex Clearing, and as a courtesy to you, Public has gone ahead and covered this fee for you.
Why it’s important:
Since the app allowed you to buy a stock before the funds were successfully added, there is currently stock that simply needs to be paid for. To learn why it’s critical to cover the unpaid balance right away please check out this guide from the SEC.
Not to worry! This is a super easy fix and if you give our friendly CX team a shout via the app Live Chat or via email at firstname.lastname@example.org we can help get that sorted right away! 🤗