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Bank payments fees in QuickBooks Online Payments

SOLVEDby QuickBooks5Updated 1 month ago

Bank payments are processed at a low 1% fee per transaction. The transaction fee is deducted from your deposit account immediately after the payment is deposited to your account.

Any applicable exception fees will be withdrawn from your deposit account for the current month, on the fifth business day of the following month. You will receive notification in advance.

Types of payment fees

Fee TypeFeeDetails
Transaction Fees1% per transaction Cap of $100 per transaction.
Non-Sufficient Funds (NSF)  $30There was an attempt to debit funds from the customer’s bank account, but there were not enough funds in the account, therefore the payment was returned as NSF. 
Recall of a customer’s payment$5Charged when a Merchant requests for a payment to be recalled/cancelled, and the payment (in progress) is manually stopped. Funds are then redirected to the account from which they were debited.
Failed Credit$2Funds were unsuccessfully credited to an account, for example when an account has been closed.

Types of service fees

The following are optional services for which, when requested, you will be required to consent to non-refundable service fees prior to being billed.

Fee TypeFeeDetails
Payment Trace$10This is a request for trace on a payment, which is a confirmation from the bank with details on where the funds were credited.
One-time payment expedition (requires approval)$10On an exception basis, when warranted, a payment may be released before the two-day hold period, so the funds are received faster.
Information Retrieval$25A request for specific information on the history of a payment or multiple payments. For example, providing specific debit and credit dates for all payments to a specific business.

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