Your Qapital account can go negative for a few reasons. Most of the time it's due to transactions to Qapital being returned to your external bank while the balance in your Qapital account is not high enough to cover the return. When that happens your bank sends us one of the following bank codes as a reason for the return:
R01 - Insufficient Funds
R02 - Account closed
R08 - Stop Payment placed on a transfer into Qapital
R10 - User indicated that Qapital is an unauthorized merchant
R16 - Frozen funding account due to legal order
This can also occur when there is spending over the available balance in your Spending account.
In some cases, you may see a balance of $0.00 in Qapital, and still receive a notice regarding your negative account. This is because a change has been made on the backend, and the negative balance is not reflected in the app. Please reach out to firstname.lastname@example.org or message us directly in the support section of the app, for assistance.
Payment can be remitted in the app by initiating a transfer to the account with a negative balance by requesting an ACH push from your bank to your Qapital Spending Account. To complete an ACH push, you'll need to request that the funds are sent to your Qapital Spending account using the routing and account number provided in the app. If you are unsure how to complete an ACH push (this may be able to be done in your bank's app), please reach out to your bank for further assistance with these steps.
You can also offset the account by money order/check payable to Qapital, LLC for the amount owed to the following address:
169 Madison Ave, #2002
New York, NY 10016
Attn: Accounts Receivable