Although we do not charge any fees for insufficient funds, many banks do charge their customers a fee when their account is overdrawn.
For example, if there’s only $10 in your bank account and your Netflix subscription is processed at the same time, you might have to pay a fee to your bank. These fees are generally called non-sufficient funds or NSF, and can be over $40 per short transaction!!! Please note that these fees are charged by your bank, not by Moka.
Unfortunately, we are not able to reimburse these fees.
However, in order to avoid such fees, we have put in place certain guarantees. We will prevent a transfer from your funding source to your Moka investment account if we see that there is not enough money in your account to cover the transfer. To know more, you can refer here.
We still recommend that you stop your roundups when your account balance is low. You can also signup for overdraft protection with your bank account to avoid a non-sufficient funds fee. Most banks offer overdraft protection services, and often this protection is offered free of charge to holders of credit cards and bank accounts with the same financial institution.