Default Zero means that the default balance on your Qube Card is $0. Your debit card is simply a piece of plastic until you perform an action.
Your money sits in an FDIC-insured bank account similar to any other bank. However, the money in your bank account is not available to spend from the debit card unless you authorize it by tapping to spend. Once you tap a qube, the money in that qube will be available to spend.
If you try to spend more than what’s there, or a qube hasn’t been opened, the transaction will decline. If there’s enough money in the qube, and the qube is open, the transaction will go through smoothly. Once the transaction is complete, the qube will close, and the Qube Card will return to a Default Zero balance.
Why Default Zero?
We created Default Zero technology to help consumers be intentional with their spending and to improve financial security. Our logic is backed by hundreds of years of research with cash envelope budgeting. When people have to make a conscious decision before spending, they’re more likely to avoid debt and stick to a budget. Millions of people have used the cash envelope system to manage their money successfully. What makes this system so effective? Easy: Money is allocated into budget categories before a purchase decision is considered. Qube digitally replicated this method of spending because it works.
Additionally, Default Zero technology majorly helps combat fraud. If your card is lost or stolen, it can't be used to make purchases or transfers without action on your end. Unlike other debit and credit cards, that can be stolen and used to drain your bank account of its funds almost instantly, Default Zero Technology requires you to have opened a qube or turned on your Debit Card's Qubeless setting in order to access funds. So, when a thief or fraudster goes to run up your card in a store or online, the transaction will decline. How about that for peace of mind?