Grifin works hard to make sure our customers don’t overdraft their bank accounts. We have a system that does a 2-step check of the balance of your account the night before trying to transfer money out of it.
To help prevent overdrafts, here’s how our system works: First, your bank account must have at least $15 in it. If you have less than $15, the system will automatically skip your deposit. Second, your account must have at least 1.5 times your expected transfer amount. To illustrate this, here are some examples:
To help prevent overdrafts, here’s how our system works: First, your bank account must have at least $15 in it. If you have less than $15, the system will automatically skip your deposit. Second, your account must have at least 1.5 times your expected transfer amount. To illustrate this, here are some examples:
- If you have $15 in your bank account and you expect to transfer $5 to Grifin, your deposit will go through.
- If you have $30 in your bank account and you expect to transfer $20 to Grifin, your deposit will go through.
- If you have $20 in your bank account and you expect to transfer $20 to Grifin, your deposit will be SKIPPED because you need to have at least $30, which is 1.5 times your expected transfer.
If this system thinks you’re likely to overdraft, we will automatically skip your weekly deposit and notify you. Please check the balance of your bank account the day before you expect to make a transfer so that your deposit goes through smoothly.
If this is a recurring issue that you think is incorrect, please reach out to our customer support team at support@grifin.com!