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Why did my card deposit fail

Why a card deposit might fail and deposit alternatives

Written by Klutch

A card deposit can fail for a few reasons. Here are the most common ones and what to do about each.

Common reasons a card deposit fails

Your bank declined it. Some banks block crypto related purchases by default. If your details are correct and the deposit still will not go through, a quick call to your bank to authorize the purchase usually clears it.

The card did not have enough funds. Add funds to the card or use a different one.

Your card details did not match. The card number, expiration, CVV, and billing address you enter have to match exactly what your bank has on file. A mismatch is one of the most common reasons a deposit is declined.

Your card type is not supported. fomo's payment providers accept bank-issued debit cards. Prepaid cards and gift cards are not supported and will be declined.

The card step asked you to verify your identity. The card payment provider can run its own identity check during a deposit, including a screen that asks for a tax identification number. That check is on the provider's side, so fomo cannot see or clear it. If you are stuck on it, use a different method from the Deposit screen.

Your deposit sits on Verification pending. If the button stays on Verification pending after you sent identity documents, the check is waiting on the payment provider's side and there is nothing to resubmit or retry. The other methods on your Deposit screen are not affected.

The order was rejected after a previous order failed. That message means the provider has paused further card attempts on its side, and changing your card details or billing address will not clear it. The error screen shows a trace ID, and the provider needs that ID to review the order.

You reached a limit on the Apple Pay method. If you pay with the Apple Pay method on the Deposit cash screen, that method may have a weekly spending limit and a cap on how many transactions you can make in total, depending on your account.

Open Details on the Deposit cash screen and the row next to Payment method shows your weekly figure. When you reach a limit the screen says so, and where an increase is available the button reads Increase limit.

You can also pick Debit card under Details on the Deposit cash screen, use Coinbase under Exchanges and apps if you have a Coinbase account and it is listed for you, or deposit USDC directly if you already hold some. Card and Apple Pay deposits are in the mobile app; on the web the Deposit button offers Crypto only.

Card deposits are not available to your account. If a debit card deposit ends with Deposits aren't available in your region yet, no card or bank change will fix it, and you can add funds by depositing USDC instead.

If the Apple Pay method says it is not available in your region, the sheet offers Retry with debit card, and a debit card can still go through.

A charge on your statement

If your bank shows a charge for a deposit that did not go through, that is a temporary authorization hold, not a completed charge. Your bank releases it on its own, usually within 1 to 3 business days.

Depositing USDC instead

To add funds another way, go to Deposit, then Crypto, and select the network your USDC is on. fomo supports USDC deposits on Solana, Base, BNB Chain, Monad, Ethereum, and Arc, and USDG deposits on Robinhood Chain, which convert into your USDC cash balance automatically.

The screen shows the minimum for the network you selected, if it has one.

Copy the deposit address shown, and send USDC on that same network. If you do not already have USDC, you can buy it on a crypto exchange that operates in your country and send it to that address.

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