Parent account balance is insufficient for network fees” error message - kotekdorinda/Ledger-Fixes-and-Guides-213 GitHub Wiki

This article helps you solve the “parent account balance is insufficient for network fees” error.

If you encounter this issue while trying to swap or interact with your cryptocurrencies, don’t worry! This error simply means that the account from which you are trying to swap the cryptocurrencies does not have enough balance in the native coin to pay for the network fees.

For example, when swapping USDC tokens that are in your Ethereum account, you need to have Ethereum (ETH) coin balance on the same Ethereum account to pay for the network fees.

It’s important to note that network fees are paid to the nodes on the blockchain network to confirm your transaction and are not paid to Ledger.

To resolve the issue, follow these steps:

  1. Buy some Ethereum (ETH). You can buy ETH directly in Ledger Live through our partners, such as Coinify.  Alternatively, you can buy ETH on an exchange like Binance or Coinbase and transfer it to your Ethereum account containing your tokens.
  2. Transfer the ETH to the account containing your tokens. Follow the guide provided in Ledger Live to transfer the ETH to the correct account. 

Once you have enough ETH in the account, you should be able to make the swap successfully. Keep in mind that transactions on the blockchain may take some time to process, depending on network conditions.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Getting an “insufficient funds” error even though you have plenty of ETH?

When sending ERC-20 tokens such as OP, ARB, or USDC on Layer 2 networks like Optimism, and Arbitrum, ensure you have native ETH on the specific network for transaction fees. Tokens can exist on multiple networks, even though they share the same public wallet address.

Here is how to solve this:

  • Send ETH via the Specific Network: Transfer ETH directly to your asset’s address from an exchange like Coinbase or Binance. Make sure you’re sending it via the specific network (Arbitrum or Optimism network, for example). This provides the necessary “gas” for the transaction to be processed.
  • Bridge ETH Using Squid: Utilize the Squid app, located in the Discover section to bridge Native ETH to ETH on the desired network.

Understanding the Coin/Token Relationship

Grasping the Coin/Token relationship is crucial for resolving this error message. Should you encounter the described error, it indicates possession of a token without its associated coin necessary for covering transaction fees. This scenario can arise on ETH, BNB, POLYGON, and others.

To recap: the error message “the parent account balance is insufficient for network fees” is a common issue faced while swapping cryptocurrencies, and it can be resolved by simply having enough balance in the native coin.