Although we do not charge any fees for insufficient funds, many banks do charge their customers a fee when their account is overdrawn.
This can happen when there are automated payments, unexpected expenses, or manual withdrawals that bring the account balance below the transaction amount.
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.
Consequently, if the system identifies insufficient funds, it automatically skips the transaction to prevent further fees.
Unfortunately, we are not able to reimburse these fees.
You can sign up 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. Finally, you can also use the "Skip transfer" function to skip your upcoming transfer. To read more about it, please click here. If your transfer doesn’t go through, to ensure you don't continue to get charged NSF fees from your bank, we automatically add you to our skip list. To manually manage your transfers:
Open the Moka App. Navigate to the Overview section.
View the Transfer Details. Tap on Next Transfer.
Toggle Transfer Options. Select
Skip this transferto skip it orUnskipto resume after confirming your choice. Note: Skipping only applies to the next scheduled transfer and does not place your account into a continuous skipping mode.
Why Are My Weekly Contributions Skipped, and How Can I Resume Them?
Reasons for Skipped Contributions
Insufficient Funds in Your Funding Source: Contributions are automatically skipped if a recent transfer attempt fails due to insufficient funds, as a preventative measure against NSF fees.
User-Initiated Skip Requests: If you manually skip a scheduled transfer, the system skips all contributions for that date. Normal contributions will resume on the next scheduled date.
Preventing Skipped Contributions
Ensure Sufficient Funds: Regularly monitor your bank account balance to make sure scheduled contributions can be covered.
Maintain Valid Funding Source: Check that your linked funding source is active and correctly connected to the app.
Set Weekly Contributions to $0: If you do not want to make scheduled contributions temporarily, you can adjust the weekly contribution amount to $0 through the app’s Overview section under each goal. This action leaves the account active for future updates.
Resuming Contributions After Skips
If the skip was due to insufficient funds, ensure the necessary amount is available.
For manually skipped transfers, no further action is required; normal contributions resume automatically on their next date.
Verify in the Moka app settings that there are no pending skips if the contributions do not resume automatically.
Ensure your banking information is correct in the app since Moka processes transfers via direct deposits. Card updates are unnecessary for this process.
FAQs
Why does the app skip a transfer? The app prevents NSF fees by skipping transactions when there aren’t enough funds.
Impact on my investment goals? Skips may slightly delay goals, but contributions resume once resolved.
User-initiated skips? Both weekly and one-time contributions are skipped but resume on the next scheduled date.
Resuming After Automated Pause? Skipped transfers restart automatically if their condition resolves (e.g., adding sufficient funds). This ensures regular contributions without additional steps unless manually stopped.
Stopping Transfers Permanently? Adjust the weekly contribution amount to $0 via the app’s Overview section. This prevents future contributions while keeping your account active.