You can only have a negative balance (be overdrawn) if you have an authorized overdraft activated on your account. Overdraft is subject to eligibility requirements. Learn more about the authorized overdraft.
What if I am not eligible for an overdraft or it is not activated?
The low-balance status makes it impossible for you to process any new payment - including card payments, transfers, and direct debits - until you add money to your account.
If the balance of your account is low, you'll receive an alert. This occurs when your current balance does not allow you to honor transfers, subscriptions, and direct debits scheduled in the next 14 days.
Why did I receive a notification about having an unauthorized negative balance?
This can exceptionally happen with some transactions such as cheque returns, incoming direct debit refunds or offline card payments (e.g. using your card in an airplane). You can still go into an unauthorized overdraft even if you have an authorized overdraft activated.
We’ll ask you to add money to your account to cover the amount of the transaction immediately. No fees or interest will be charged and your eligibility for an authorized overdraft is not affected.
Can you help me manage short-term cash flow gaps?
If your company is eligible, you can use one of our financing solutions to manage short-term cash flow gaps:
- Pay later offer (How to use Qonto’s Pay later feature?)
- Overdraft feature (How do I use Qonto's Overdraft feature?)
- Credit Card (What is the credit card and how can it help my business?)