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!

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

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!

Hello,

I just wanted to exchange the bank account where I am receiving payment from my customers with credit card. If someone can help me will be great.

Thank you  

Hi 9130 3490 3181 8196,

It's essential that your QuickBooks Online Payments account is up to date to ensure payments are received.  I'd be happy to show you how!

Follow these steps to change your Payments account;

1. Log into QuickBooks Online in a web browser

2. Go to Settings ⚙ in the top right and select Account and settings

3. Open Payments from the left menu

4. In the Deposits section beside Standard deposits, click Change beside your existing bank account

5. Choose Add new bank account

6. Enter the card information and follow the prompts to enter your login credentials and connect your account

7. Hit Save when finished

Here's a helpful guide for future reference.

Feel free to let us know if this has been solved.  Your success is important and we're always pleased to help!