You may have received a recent notice or email notifying you about a cash deficit in your account or you may notice you can’t deposit more funds in your account and are receiving a notice in the app. This usually occurs due to a cash debit balance on your account.

If your account is showing a negative balance, this is typically due to a rejected deposit. However, a small percentage of the time it may also be because a fee was applied to your account or the transfer was cancelled after a risk review. Reviews of transfers are done for a variety of reasons, and after review, more documentation may be needed or your transfer may be delayed or canceled.

When a deposit is rejected and recalled by your bank, it may cause a negative balance in your account if those funds were used to purchase a stock or other asset. When the deposit is recalled your purchases are then considered unpaid for, which you can learn more about from the SEC here. A $30 reversal fee will be applied for any rejected deposits, as stated in our fee schedule.

What happened:

You recently initiated a deposit to purchase stocks or another asset, and while the stocks/assets were purchased, your bank rejected and recalled your transfer. Not to worry though, as you can quickly and easily bring your account back to full strength by retrying a new deposit. Please reach out to our team in Member Support if you are unable to resubmit your deposit and one of our team members can assist you.

Why it happened:

Usually, your bank rejects a deposit due to:

●Insufficient Funds

●Declined Transfer (by your bank)

●Incompatible Account Type (e.g. some savings accounts or business accounts)

●Account information needing further review.

Why it’s important:

Since the app allowed you to buy a stock or another asset before the funds were successfully added, there are currently purchases that simply need to be paid for.

What you need to do: You can bring your account back to good standing by retrying the deposit using a debit card, another account type, or with a wire transfer. You may need to reach out to member support to assist with your deposit.

​Additionally, it is important to note that if no action is taken to cover the debit balance, our operations team may sell an investment in your account, which will incur a $10 sell-out fee, as listed in our fee schedule.

Reach out to Member Support in the app or by email at support@public.com and we can help get that sorted right away.