Can my Azlo account go negative or overdraw?
Azlo accounts can become negative, this typically happens for one the following reasons:
- A transaction that settles for a different amount than what was authorized. For example, when you swipe your debit card at a gas station and the transaction was authorized for $1, but when the transaction settles, the amount debited is larger than the available balance of the account.
- A recurring payment that is set up with your debit card information OR your account and routing number, and the total for the payment is larger than the available balance of your account. For example, a payment for a gym membership or a streaming service such as Netflix.
- A check deposit was returned by the paying bank, so the amount is debited from your Azlo account.
What happens if my account balance becomes negative?
If your Azlo account does go negative, our customer support team will reach out to you via email to let you know. Also, a debit block will be placed on your account to ensure the balance does not go further negative. Once you fund your account and take it to a positive balance, the debit block can be removed.
Will Azlo charge me a fee for overdrawing my account?
No, Azlo doesn't charge fees for overdrawing your account.
How long can my account balance be negative?
We'll reach out to you proactively via email if we see your account balance has become negative and we'll give you 30 days to bring your account balance positive. If you need more time to fund your account, please respond to the email from our support team, and we may be able to give you a bit more time to bring your balance positive.
Will Azlo close my account for being negative too long?
Yes, your Azlo account will be closed we don't hear back from you regarding the balance of your Azlo account and it has a negative balance for longer than 30 days.