We have an automatic fail-safe mechanism that kicks in if a Qapital transfer will leave your funding account with less than $100 in it.
The overdraft fail-safe is put in place to help prevent overdrafts, but it will not work 100% of the time due to nature of ACH transfers. It is important that you don't rely solely on this tool and always make sure you have enough funds in your external funding account to cover the transfers to Qapital (or pause the account if you don't). Qapital will not be responsible for overdraft / insufficient funds fees charged by your financial institution.
In order for the Fail-safe feature to operate, your external account will need to be verified with Qapital.
New accounts, accounts undergoing a funding account change, or accounts experiencing a connection error may not be in a verified status. Please be sure to monitor your deposits into Qapital, and be sure there are enough funds in your external account to cover to avoid the possibility of an overdraft.
Accounts will be verified automatically after a few transactions to or from Qapital are recognized by our system, no need to do anything on your end.
Reminder: We automatically batch when we transfer money from your checking account to your Qapital account. These transfers are sent up to 4 times per week, Monday through Thursday. If you're ever worried about our transfers causing an overdraft, you can always pause your Rules and cancel transfers in the app.