cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Created with Sketch. Visit our new QuickBooks News section for news, updates, and opportunities to give feedback.
Highlighted
Level 1

Is there a transaction fee when you receive payments?

 
3 Comments
Highlighted
QuickBooks Team

Is there a transaction fee when you receive payments?

Hi mike-mbinternetm,

 

Using the payments feature of QuickBooks Online is a great way to save time by letting your customers pay you directly from your invoice. I can help go over more about this feature and the fees associated with it.

 

When you use the payment feature there is a transaction fee of 2.9% + 25 cents per transaction. This allows the funds to be sent directly into your bank account automatically and makes the payment entry into your QuickBooks Online account. You can also find out more about payments by going here. If you don't wish to subscribe, you can still have your clients pay you through E-transfer or other means but you'll have to manually make those entries yourself.

 

Hope this was able to help!

Highlighted
New Member

Is there a transaction fee when you receive payments?

So if I receive a payment for $40, 000 I will have to pay a 2.9% fee?!

Highlighted
QuickBooks Team

Is there a transaction fee when you receive payments?

Thank-you for joining in on this thread and being a member of the QuickBooks family @heavyduty!

 

Using our Payments add-on is a fantastic way to receive your customer's credit card payments towards their invoices. To answer your question - yes. If you receive a credit card payment from your customer using QuickBooks Online Payments Canada, you'll be charged a 2.9% + $0.25 fee. This fee is charged on every transaction you process using Payments. A $40,000 payment is no different than a $50 payment in that you're still charged the same 2.9% + $0.25. The Fee Disclosure is broken down for you in the Intuit Payments Merchant Agreement so I encourage you to review it for more information on this. 

 

I'm here if you need any further clarification!