Account resolution typically happens after an overdraft.
Account resolution is the process that happens after a failed ACH transfer. This means the last time we tried to pull money from your checking account, your bank denied the transfer for some reason. The most common cause of this is insufficient funds, but there can be many other reasons.
While your account is in this status, you’ll be unable to buy stock or deposit funds. However, you will be able to sell stock and withdraw funds.
If you want to continue using Grifin, follow the steps to resolve your account. Please note, this process requires us to retry the failed deposit, so make sure you have enough money in your bank for it to go through.
This process can take up to 2 weeks from start to finish. You can track your progress using the tracker on your home page.
Note: Each time your bank denies an ACH transfer, your bank charges you a fee AND our brokerage provider, Alpaca, will charge you a $20 fee. Grifin will cover that fee for you on the first failed ACH, but after that first time you’ll have to pay the fee! After three failed ACH transfers you will no longer be able to use Grifin.
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