Unable to use appstore

Recently I got an email, the email basically said payment method failed (even though I have funds in my account) and I thought huh that’s weird and shrugged it off. I also canceled all subscriptions way before getting this email bc I have other ways to use those services now. However, I tried to install an app and this app is free, yet it’s not allowing me to because my payment method failed and I’m trying to find the solution to getting past this problem. The last subscription I had was a .99¢ storage upgrade to which I didn’t need to I canceled it. I believe it’s related to this because it’s the only Apple related subscription I had and the email makes me believe it was towards that. I checked my bank account and it still has plenty of funds that would more than be able to pay for a 99 cent payment. My question is why does it say the payment method failed and how come I cannot install any applications or upgrade any apps now?