In some cases, you might find your balance negative. Several reasons could explain this:
You have received a direct debit or made an over capture / force capture type of card transaction
Some transactions will debit more than the amount available on your main balance if your overall account balance (including Envelopes) has enough funds to cover for the transaction. It will, as a result, make your Main balance go negative. These transactions can include:
Direct debits that you've preliminary set up with Bonsai business banking.
Some types of card transactions (hotels, tips in bars/restaurants, transactions without Internet connection e.g. in airplanes.)
Rest assured: No overdraft fees will be charged, as your overall account balance is not negative — only the main balance is. Simply transfer funds from one of your Envelopes to your main balance in order to make it positive again.
You have refunded an invoice
The time for us to successfully process the refund, your balance will first become negative while we transfer the money back to your client, then once we have recovered the money from your account, your balance should come back to a positive amount.
A client has made a chargeback against one of your invoices
In this case, the mechanism works exactly like in the case of a refund. We will have to refund the client first. If you lose the case, it will stay as is. However, if you win the case, we will credit back the funds to your balance.
Any question or concern? Feel free to write to us.