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Does Intuit review every transaction and hold for up to 6 days or is it just the first few?

 
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Best answer 07-18-2019

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Content Leader

Re: Does Intuit review every transaction and hold for up to 6 days or is it just the first few?

Thanks for posting in the Community, @pauletteklockman. I can provide clarification about funding delays.

 

A new merchant's initial transactions will be deferred for at least seven days as part of a standard process. Once their information is validated, they should be funded at the regular next-day expectation. If QuickBooks Payments has requested any documents from you, I encourage you to follow the directions in your email. 

 

Please let me know if I can be of further assistance by commenting below. I hope you have a great rest of the week.

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5 Comments
Content Leader

Re: Does Intuit review every transaction and hold for up to 6 days or is it just the first few?

Thanks for posting in the Community, @pauletteklockman. I can provide clarification about funding delays.

 

A new merchant's initial transactions will be deferred for at least seven days as part of a standard process. Once their information is validated, they should be funded at the regular next-day expectation. If QuickBooks Payments has requested any documents from you, I encourage you to follow the directions in your email. 

 

Please let me know if I can be of further assistance by commenting below. I hope you have a great rest of the week.

View solution in original post

Level 1

Re: Does Intuit review every transaction and hold for up to 6 days or is it just the first few?

Wish I new this before I used it!  I use another processing company and have been for a while. Never had an issue, a dispute, or a hold on anything either (not even my first transaction).  I decided to try QuickBooks processing thinking it 'might' save me a step in having to log transaction fees as an expense and can automatically link them to a job.  So on a new job I ran the card through QuickBooks.  I promptly received an e-mail saying deposit would be delayed up to 6 business days.  This is unacceptable.  I collect a 50% deposit on all jobs, to cover supply and most labor costs.  My niche is my lead time.  Thank goodness I am responsible and have money set aside so I don't have to delay a job an extra week waiting for a bank deposit.  I am not some criminal trying to scam people, why would you treat your customers like this, QuickBooks? Why not assume the best in people's intentions and business ventures.  Scammers are the exception NOT the rule.   Thank goodness I didn't sever ties with my other processing company.  I will solely be using them from here on out for all credit card transactions.  A warning would have been nice, instead of all of this 'get paid faster with QuickBooks' advertising I see. 

Moderator

Re: Does Intuit review every transaction and hold for up to 6 days or is it just the first few?

We don't want you to feel that way, @Wise-RV.

 

I understand how you feel when something isn't working the way you need it to and I want you to know that I'm here to listen and help you sort this out.

 

As stated in our license agreement when signing up for your online payments account, all your initial deposits can be held within 6 days. This is to ensure that all your deposits are accurate until your transaction history is established.

 

With this, I've added this article you can read to learn more about the holding of your initial deposits: Why are my funds on hold?

 

Know that you can always visit our Help Articles page for QuickBooks Payments in case you need some related articles for your future tasks.

 

If there's anything else that I can help you with, please let me know in the comment section down below. I'll be always around ready to help.

New Member

Re: Does Intuit review every transaction and hold for up to 6 days or is it just the first few?

I have been using Intuit and Quickbooks payment for a year and half now. We routinely process around 35-50K a month and pay more in fees than if we used Chase...

For the last 2 weeks (a total of 6 batches now), Intuit has HELD every one of my transactions "for review" and released them 24-48 hours later with NO EXPLANATION.

I have called the help line multiple times and spent hours on hold and in calls only to be told it is a random system generated event...I dont think so...I am switching providers but I still have to use this TERRIBLE service until I can get the other one set up so that my customers can still use a card if they want to. 

Moderator

Re: Does Intuit review every transaction and hold for up to 6 days or is it just the first few?

We don't want you to feel that way, ENVOYAV.

 

If the funds are on hold, that means there is something unexpected in the deposit that we need to review. We do this to check and keep you and your customer safe from fraud.

 

We send emails with detailed instructions on how to resolve it. Depending on the needed information, the review is usually completed within 2 business days. You can check this article for more information: Why are my funds on hold? You can also review the merchant service agreement.

 

In addition to that, there are different rates per transaction. You can check that here: https://quickbooks.intuit.com/payments/#overview.

 

We do this to make sure your transactions are safe. Let me know if you have more to share.

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