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What are the fees charged in case of insufficient funds for a recurring payment?
If your checking account does not have sufficient funds on the date the recurring payment is due to be processed, the payment is put on hold. Truly will automatically retry the payment and process it whenever sufficient funds are available.
The good part is that, unlike other banking services, Truly Financial does not charge a fee if you have insufficient funds (also known in banking parlance as no-sufficient-funds or NSF) to cover the current recurrence of the recurring payment.
Do remember that your recurring payments held due to insufficient funds are not cancelled and will get processed the next day if sufficient funds are available unless you cancel the payment explicitly.