Accept bank payments in QuickBooks Online

Bank payments make it easy to accept large payments and stay organized. Unlike e-transfers, bank payments have a $50,000 limit per transaction, so customers can pay high-value invoices in a single payment. Also, we’ll automatically record and reconcile it for you, keeping your books accurate and organized.

With bank payments, you get:

• A simple and secure way for customers to pay right from their invoice
• A low 1% fee per transaction.
• Automatically balanced books. We categorize each processed payment on your chart of accounts for you
• No transaction limits

Note: Before you can accept bank payments, you first must be approved to accept credit card payments in Quickbooks.

Apply to use bank payments

You'll need a QuickBooks Payments (Merchant Services) account attached to a QuickBooks Online account to process bank payments. If you are an existing QuickBooks Payments customer you will be automatically enrolled in Bank Payments.

If you do not have QuickBooks Payments, you follow the steps in our support article to sign up.

Send bank payment requests when creating an invoice

When you create an invoice, you will now have the ability to select the types of payments you’ll accept.

1. Review the Bank payments box to activate the bank payments option when creating the invoice. You can offer multiple payment options and your customers will be able to pay the invoice using one of the options offered.
2. Select the Save and send button. The Send email window displays the draft content of the invoice.
3. Confirm that the draft content is accurate and complete.
4. Select the Send and close button. A confirmation message displays, confirming that the invoice was successfully sent.

Your customer receives the invoice in their email inbox, and you are returned to the QuickBooks dashboard.

Once your customer makes their payment using bank payments, the funds will be in your bank account in 3-4 business days.

5. Select Sales.
6. Select the Deposits tab.

The deposit is reflected in your QuickBooks account.

Money movement services are provided by Intuit Canada Payments Inc.