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Level 1

Quickbooks Checking Account Fraud Warning

This is a warning and cautionary tail to those who use QuickBooks checking and being partners with Green Dot Bank. 


There are 2 warnings here:


1. QuickBooks cannot safely protect their customers bank accounts from fraudulent activity

2. Green Dot Bank is not good to  do business with and will stick you with the fraudulent losses even as their customer. 


I have been in business for almost 3 years and I never use or keep money in the QBO Checking account until very recently. All of my banking is done with other institutions. I used the invoice method for a customer to set up a monthly payment plan and the money was being deposited directly into QBO checking. Thinking it's safe I thought I'd leave the money in there and start padding that checking account. Without even realizing it there was about 20 counts of fraudulent charges on my account. Lots of Amazon, Hulu, Termius Corp., Nortwest Maritime, etc. The only transactions that should be on this account should be deposits into the account.


Regardless, I filed the disputes and was told I'd hear in 10 business days about the claim. I received a notice in the mail denying that fraudulent activity occurred and I would be out all of the money. The explanation for each case of fraudulent activity  "Based on our review of relevant information including transaction and account activity that transactions were authorized."


They most certainly were not authorized. So I escalated another claim and got the same result with the same justification. When I asked Green Dot why I would ever keep money in or use the account when fraudulent activity is happening on the account they responded with " I assure you your account is 100% safe." Considering none of these transactions were my own, it clearly is not safe. All they did was issue me a new debit card. 


Green Dot literally has their employees reading off a sheet of protocols that says "here's what you say when a customer calls about a lost fraud claim charge" - there is no reasoning or conversating about what is happening. You just get read a sentence saying you claim was denied sorry, goodbye. 


After 3 hours of back and fourth between QBO and Green Dot I am pretty disgusted. 


So now I'm forced to decide if I trust using QBO checking account for invoicing or just work around it. Could I close this QBO checking account and link my business account and still use the invoicing. I just don't want any money sitting in Quickbooks after this


1 Comment 1
Level 10

Quickbooks Checking Account Fraud Warning

You can use 3rd party payment processor to integrate with QBO.

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