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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.

3 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.

Established Member

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. 

QuickBooks Team

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.

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