Insufficient Funds

A situation in which an individual or institution does not have enough money in their account to cover a transaction or withdrawal.

More Details

Insufficient funds refers to a situation in which a person or entity does not have enough money in their account to cover a transaction or meet a financial obligation. This can occur when the account balance is lower than the amount of the transaction, or when there are not enough available funds to cover the required amount.

Example

If you have a checking account with a balance of $100 and you try to make a purchase for $150 at a store, the transaction will likely be declined because you have insufficient funds in your account to cover the purchase.

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