When you attempt a transaction on your Eversend virtual card without enough funds to cover it, an insufficient funds penalty of $0.35 is applied. This ensures you keep your virtual card remains properly funded before any future transactions.
How it works:
Penalty applied to USD wallet: The $0.35 penalty is always debited from your Eversend USD wallet, even if there are sufficient funds on your virtual card.
Withdrawal attempt: After the $0.35 penalty is applied to your USD wallet, we then attempt a withdrawal of either $0.35 or $1 from your virtual card to cover and net out the debit applied on your USD wallet.
This ensures the penalty is always applied, even if your virtual card balance isn’t sufficient to cover it directly.
Why does this happen?
The penalty isn't a source of revenue for Eversend. Instead, it’s a mechanism to ensure that your virtual card remains funded for future transactions. The collected penalties are paid back to the card networks, who manage the processing of payments.
How to avoid the penalty:
To avoid the penalty, ensure there are enough funds in your virtual card before making any purchases. Regularly check your balance for smooth transactions.
If you have any questions, our friendly support team is available through the Eversend app.