Introducing the Overdraft & Backup Payment Program on Palmstreet

The Overdraft & Backup Payment Program is designed to helps Palmstreet sellers maintain smooth business operations, even when the available balance is insufficient. This program provides overdraft funds for essential activities like purchasing shipping labels, processing refunds, and upgrading seller plans.

Sellers who enroll in the program can use overdraft funds when needed, with repayments handled automatically through future sales or a backup payment method.

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What Overdraft Can Be Used For

Once enrolled, overdraft can be used to complete essential actions when available balance is insufficient. This helps ensure business operations continue without delay.

Overdraft can be used for:

• Purchasing shipping labels: If the shipping label cost exceeds the available balance, overdraft will automatically cover the difference.
• Processing refunds: Overdraft can be used to complete a refund if available funds are insufficient.
• Upgrading seller plans: Subscription fees can be covered using overdraft when platform balance is not enough.

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How to Enroll in the Overdraft & Backup Payment Program

The program can be accessed directly in the app under Profile > Settings > Earnings. To enroll:

1. Tap Overdraft & Backup Payment on the Earnings page.
2. Add or confirm a valid payment method, and acknowledge the terms.
3. Once enrolled, the overdraft limit will appear on the Earnings page.

Overdraft limits are set based on the seller’s plan:

• Foundation sellers: up to $500
• Non-foundation sellers: up to $200

Note: If the shipping fees included in your Pending Balance exceed your plan limit, your overdraft limit will automatically adjust to the higher shipping-fee amount.

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How to Check Details About Overdraft & Autopay

When overdraft is in use, the Available Balance may display a negative value. To view overdraft usage and repayment details:

1. Tap the Overdraft limit section to access Overdraft statements.
2. Select any statement to view the full repayment details.
3. Tap Show transactions to see a breakdown of what the repayment covered.

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How to Manage or Disable Overdraft & Backup Payment

Sellers can update their backup payment method or disable the program at any time:

1. Tap Overdraft & Backup Payment on the Earnings page.
2. On the Overdraft statements, tap the settings icon in the top right corner.
3. From the Overdraft settings page, choose:

• Update payment method: Add or replace the payment method on file. This is only used if the overdraft limit is exceeded and no available funds remain.
• Disable Overdraft & Backup Payment: Use the toggle switch to turn off the program. Any outstanding overdraft balance must be repaid before the program can be disabled.

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FAQ

Q: Why is my overdraft limit higher than $200 (Non-Foundation sellers) or $500 (Foundation sellers)?
A: If your Pending Balance includes shipping fees that are higher than your plan limit ($200 or $500), your overdraft limit will automatically match the higher shipping-fee amount instead of the plan-based limit.
Example: If your Pending Balance includes $2,000 in shipping fees, your overdraft limit becomes $2,000.