My Cashback Sock balance is suddenly negative, what should I do?

Understanding Your Cashback Sock Balance:
 

Balance Breakdown:
Your balance shows available cashback, what's paid, and what's pending.

You can only pay out available cashback.

 

Instant Payout & Bank Connection:

If you use instant payout, (a part of) your pending cashback can become available for payout. the amount of available cashback depends on your connected bank account. Disconnecting it can affect your balance.
 
Why is my balance negative?

Firstly, check if your bank is still connected. You need it for instant payout.
If your bank account is disconnected, take the following steps:
  • Turn off instant payout.
  • Restart Woolsocks app.
  • Reconnect your bank account.
  • Turn on instant payout again.
Issue not resolved?

If you've used Instant Payout for all available cashback and no new cashback has been earned since, your balance might temporarily show as negative. This happens if Woolsocks changes their calculations to adjust the limit of pending cashback you can payout. Don't worry, your balance will return to positive as you earn more cashback. If your balance is negative for an extended period, we might use a Direct Debit to settle the difference, as stated in the terms and conditions. Still have questions or issues? Please reach out to our support team for help.

Your Cashback Sock balance should now be the same as it was previously. If you've followed these steps but your balance is still negative, get in contact with our customer support team. 

 

Other articles you might find interesting: 

What do the different statuses in my Cashback Sock mean?

How much cashback will I receive?

 

If you need further assistance, please click this link to send us a request.

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