Coinbase Insufficient Funds? Here’s Why & How To Fix It

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The Coinbase exchange has proven to be one of the most trustable and reliable crypto platforms of them all.

Millions of users buy crypto through the Coinbase app using their preferred payment method.

Coinbase users can often buy Bitcoin, ETH, and any virtual currency they want just by making quick transactions in their accounts.

Nonetheless, some Coinbase customers have experienced an “insufficient funds” message in their Coinbase account.

This “negative balance” occurs when the platform hasn’t received successful payment.

Worry not - if you do have sufficient funds in your account, but the cryptocurrency exchange is still blocking the transaction, then let’s learn how to solve this issue.

In this new blog post, we’ll be talking about:

  • Coinbase insufficient funds: why does it happen?;
  • How to solve the negative balance problem;
  • What to do if your bank reverses each deposit transaction.

What Does “Insufficient Funds” Mean in Your Coinbase Account?

As you know, you can buy cryptocurrency and send cryptocurrency whenever you want on Coinbase.

If you want to transfer crypto, you need to purchase cryptocurrency first.

That’s why it’s fundamental to Add Money to Coinbase.

Whether you want to perform day trading, invest your money in a new trade, or place limit orders taking into account the volatile cryptocurrency value, it’s fundamental to have a bank account linked to your profile.

And that’s the origin of the Negative Balance problem: the original transaction in your bank wasn’t immediately credited, but the equivalent cash value was credited in crypto on your Coinbase wallet.

Money Reversed by Your Bank or Card Issuer

So, let’s say you are trying to send money from your linked bank account to your Coinbase account.

When you access your profile to do this, there’s a transaction fee that you need to pay whenever you deposit money.

The money has been credited to your Coinbase account, but then an error message pops up: insufficient funds, or, in any case, negative balance.

The bank reversal creates a little “debt” with Coinbase, and it’s all due to your bank or card issuer.

Since negative balance occurs unexpectedly, you won’t be able to purchase cryptocurrency, transfer crypto, or make cryptocurrency transactions until you complete a transfer or deposit to your account, even if you have paid all the fees related to the transaction.

Read Also: Do you want to earn some sweet cash value in Coinbase?

You can do so! Verified customers have the possibility to Make Money on Coinbase and then cash out their rewards from their Coinbase digital wallet to their bank account linked via a transfer.

How to Fix Coinbase Insufficient Funds

So, now that you know that the negative balance issue is related to your bank or card issuer, then it’s time to solve it.

Essentially, you need to deposit money into your Coinbase account.

Otherwise, you won’t be able to purchase, transfer, and buy cryptocurrency in the future.

Once Coinbase has received successful payment, the insufficient funds’ message will disappear, and customers will be able to use Coinbase normally back again.

Step 1: Log In to Your Coinbase Account

Use your usual login credentials (password and email account) as you normally do.

Since the reversal creates a negative balance, you won’t be able to purchase anything, so Coinbase will directly provide you with the option to solve this problem.

Step 2: Select the “Make Payment” Yellow Pop-Up Banner

A yellow pop-up banner will appear in your account that says “Make Payment.” There’s a payment required that needs to be immediately credited, so just click there and proceed as shown.

Alternatively, you can just click on this link, and you’ll be redirected to the desired option.

Step 3: Choose a Payment Method to Pay for the Negative Balance

If your bank reverses payments, then you won’t probably be able to pay using that bank account.

It doesn’t matter if you do have enough funds on it - you need to choose one of the following payment methods.

Alternatives: Linked Bank Account or Digital Wallet

Coinbase will give you three options to solve your negative balance issue:

  1. Coinbase Digital Wallet: You might as well use the funds in your Coinbase digital wallet to pay for your debt;
  2. External Wallet: Since the fiat transaction was the one that failed, you might try to send crypto from an external wallet to your Coinbase Wallet Address and complete the process with the received funds;
  3. New bank account: as we mentioned before, perhaps you have enough money on your account, but if, for some reason, your bank provider isn’t working, you need to link a new bank account and complete the payment using this alternative.

Pro Tip: You can transfer funds between your Coinbase Pro and Coinbase accounts without paying fees!

You need to access both of your accounts and complete the procedure as shown in the article we have written about this topic: Transfer from Coinbase to Coinbase Pro.

What to Do if the “Insufficient Funds” Error Persists

In case you are unable to solve the “insufficient funds” or “negative balance” inconvenience, then you need to contact Coinbase’s customer service as soon as possible.

Coinbase Support Team will tell you if there’s something additional going on with your account that prevents you from solving this issue.

You can contact the support crew by clicking here.

In any case, if you follow the previously mentioned steps, then you will undoubtedly solve this problem and go back to using Coinbase as you normally do.

Coinbase Insufficient Funds FAQ

Can You Pay Negative Balance on Coinbase Using a Debit Card?

No, you can’t. According to Coinbase, you can’t use a debit card to solve negative balances or insufficient funds in your profile.

This happens due to card issuers regulations, so the only way to get this problem solved is by following the steps we have mentioned in this article.

This article is part of The Beginner’s Guide To Coinbase where you can learn everything about Coinbase and how to use it.

About the author

Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.