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So I’m new to quickbooks like weeks, has been the worst experience every, I got a merchant account to accept payment, my customer did a payment via Ach transfer payment for 30k and they closed my merchant account the next day and said that they will take 5-6 days to review transfer and ohh the customer account was Ach debit same day. Something seem fishy here
This is standard procedure across all payment processors when you receive multiple payments for the first time. PayPal may hold some payments for new accounts for 45-60 days until we meet their requirements.
We don't want you to have this type of experience with QuickBooks, @JOak.
If it's your first set of payments, it'll be deposited within 5 business days. It may take some time because we're still setting up your account. After that, it'll be deposited into your bank account much faster.
For more information on how long it takes to get customer payments in your bank account after you process them: Find out when QuickBooks Payments deposits customer payments.
In case you see the word Withheld in the Method column in your Merchants account, this means that your payment was placed on hold and we just need extra time to review. Here are some of the reasons why we hold the payment:
You’ll also receive an email with detailed instructions on what additional information is needed to complete our review. For more information about why payments are on hold and needed information to finish processing the payment, see this article: Why are my funds on hold?.
I'd recommend contacting our Merchants Services Support Team if the payment is still not deposited within the specified time frame. Since they can request account information, this team is the best resource for such questions. They can also check on the payment's status and look into why it hasn't yet been placed into your account.
I'm also adding this article to know more about how to record invoice payments you've received: Record invoice payments in QuickBooks Online.
Please let me know if you require any additional information about receiving payments in QuickBooks. I'll be here to help in any way I can. Have a wonderful day.
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