We understand this can be a frustrating situation right now. But please know, we're doing this with the intention of reducing the chance of you receiving an overdraft fee or worse, defaulting on a Float and getting banned from our platform. In order to protect you, we use a wide range of data points to analyze your specific situation and to see if qualify your account for Floats.
When it comes to evaluating your account, we use a variety of factors and datapoints, but here are some general steps you can take to help you qualify:
1. Make sure your FloatMe account is in good standing. That means you're keeping current on your subscription fees, your Floats are all paid back in full, etc.
2. Is your checking account also in good standing? Do you normally maintain a positive bank balance? Do you have regular transactions in this account to show it's active?
3. Do you have eligible direct deposits in your account? Our system requires a minimum of 3 direct deposits from an eligible source.
4. Is your linked debit card valid? We'll need a valid debit card that is connected to your linked checking account in order to send you Instant Floats.
5. Spending patterns on payday or the day after. Do you normally withdraw or transfer large amounts of money on payday or the day after? We understand large expenses happen, check out our blog for tips on how to plan ahead.