Your account has gone negative due to your bank transfer failing to reach our account, or your debit card transaction being called back.
Why is my balance negative?
When you initiate an ACH Bank Transfer (US only), it takes six business days for your financial institution to confirm that funds are available to leave your account. Similarly, when you make a purchase using your debit card, it can take several business days for your financial institution to confirm and send those funds. For your convenience, Gemini makes these funds available in your account to trade during the waiting period between your initiation of the transaction, and when the funds settle to Gemini’s bank accounts. However, when you use these funds to purchase crypto, if the deposit fails or your debit card funds are recalled, when we attempt to reclaim those funds your account subsequently will hold a negative balance.
How can I bring my account back to good standing?
In order to bring your Gemini account back into good standing, you will need to bring your fiat balance to $0 or above within 24-48 hours of receiving the Account Offset notice.
Please note that you will not be able to withdraw any of your digital assets held with Gemini until your account is back in good standing.
You can bring your fiat balance to good standing ($0 or above) using the following methods:
Why did I receive an email that my assets were sold?
Per the Gemini User Agreement, we have the right to offset your negative balance in your Fiat Account by selling the necessary amount of crypto in your crypto account on the open market at a price within 5% of the Prevailing Market Price to offset such negative balances.
If you would like to review the initial notice, you can do so by searching your inbox for the email subject line: “Gemini - Negative USD Balance - Account Offset”