Negative Wallet Overview

What is a negative wallet?

A negative wallet is when your Zūm wallet that is used to facilitate the transfer of funds, falls below $0. This is similar to a cash advance from Zūm and the negative balance must be rectified as money will be unable to be dispatched to end users from the wallet, and penalties can occur.

What causes the wallet to go negative?

A negative wallet balance is generally caused by EFT failures known as late failures. These are transactions that were originally deemed successful but were later changed to unsuccessful by either the sending, or receiving, financial institution. More information on late failures can be found here.

Understanding the wallet

To better understand your wallet and the transactions, you can view it from your Zūm portal under the Zūm Wallet section. Here you can see all transactions, the amount of funds in-transit through the wallet, and the total remaining balance. This report can be exported for ease of use. You can also apply different filters to get your desired data.

The transaction description details what happened to the transaction. You can use the transaction link to see the history of what happened to the funds. 

How do I resolve a negative wallet?

In some instances funds that ended up reaching their destination were not accounted for or clawed back by the sending financial institution. These funds will either need to be taken back from the receiving user or re-claimed from the sending user, and sent to the wallet.

To do this, you will need to create a transaction from the user you wish to recover the funds from either with the portal or using the API. Information on transaction creation for the portal can be found here, and for the API it can be found here.

Please note, that if the negative balance in your Zūm wallet isn’t rectified within 24 hours, this may result in penalties on your next monthly bill.