In plain English
This means the available balance in the payment account is lower than the amount being charged. The money that can be used right now is not enough for that payment.
In context
Here, it reports that the payment was declined because the account used for it did not have enough money available for the requested amount.
- Situation
- Reading card, bank, wallet, authorization, decline, pending, and settlement states
- What it communicates
- labels the displayed reason under a failed payment attempt.
Meaning limits
By itself, this term does not say whether the account has no money at all, only that the available amount is less than what was requested.
Examples
“Her rent payment was declined for insufficient funds, although the account still had a small balance.”
“When she tried to pay the fee, the terminal reported insufficient funds.”