How do I change my "Deposit Speed" setting. I do not need the one business day deposits.

Hi @scott81,

Thanks for the question.  Once the update has been made to faster funding, the system does not allow a customer to "downgrade" back to the slower funding times.  Unfortunately, there is not a way for us to switch back once the change has been made.  

Thanks,

Lucas

So you are saying once we agreed to the one day deposits we can't go back to regular? Was this disclosed somewhere?? This seem a little outrageous. 

So Lucas,

Do you know where this was disclosed that upgrading to a faster deposit speed was a forever upgrade? I feel very cheated right now. I would like to get rid of these fees as our business is doing fine and these fees are actually adding up like crazy for us. 

Jennifer

Hi Jennifer,

I'm sorry this wasn't clear in the upgrade process.  I will include this in our feedback to the product team.

I recommend that you do the same.  If you go to your gear icon in QBO, you will see a feedback option.  That goes directly to our engineers.  I would definitely make sure your voice is heard on this issue.

I would also like to downgrade the deposit speed. It was not disclosed that this can't be reversed. Since there is a fee for this service, I don't think it is ethical or legal to not allow customers to change this service back to the regular processing speed.  So I have to cancel my entire QB account now and find a new billing service?

Hello, @rachel45.

To downgrade the deposit speed, you have to cancel your payment account and resubscribe to a new one. For your reference, check out these links:

• Cancel your QuickBooks Payments subscription
• Subscription payment options for QuickBooks Online

Once completed, connect your new payments account to QuickBooks Online.

Let me know if you have any other questions. I'm always here to help. Have a good day!

I also have been trying to figure out how to downgrade my deposits, as I did it by error previously, I never knew I could not go back.  This is very upsetting. 

Hello, @psfreight.

At this time, I encourage reaching out to our Support Team. This way, they'll be able to give you ways and options on how to downgrade your deposits.

For the support's contact information, open this link then scroll down to the QuickBooks Online with Payments & Merchant Service Center section.

Post again if you have any other questions. I'm a few clicks away to help. Have a good day!

Has this actually worked for anyone?  Cancel subscription and then re-subscribe to revert back to the 5 day deposit with no fees?

Has anyone successfully reverted/downgrade back to non-fee based deposits?  If so, how?

Hello there, Amity Law,

I recommend contacting our Customer Care Team (QuickBooks Online with Payments & Merchant Service Center) directly. They might be able to provide an option on how to go back to the regular deposit speed.

Note that they're only open from Monday-Friday 6AM-6PM PST.

You might also want to check out this article to know when QuickBooks Payments deposits customer payments: Find out when QuickBooks Payments deposits customer payments.

Stay in touch with me if you need anything else.

I have called numerous times to customer care and all they tell me is they cannot revert back or downgrade the deposit speed once its changed.  This was not communicated anywhere in the options and is completely deceptive on the part of QBO.  

Are there any other options???

I have filed a complaint with the Attorney General of California, against Intuit. I believe this is an unlawful business practice, to force me to continue paying for a service I don’t want just so I can continue to conduct my business. Cancelling my payment service is not possible since I always have clients with outstanding invoices who would not be able to pay using the link in their email --the link in the email would change once a new payments account is set up. I'm a bit of a computer geek and it makes no sense to me whatsoever that they can't fix their system to allow this downgrade of service.

We’ll see what happens.

I'm with you. This is so unbelievably deceitful and the only ones who are truly getting affected by it are small business owners. They don't even call out the deposit fee % rate for 1 day deposits. I think this is unlawful and/or will be. It's only a matter of time before someone comes down on them hard.

has this been addressed? i would like to downgrade or get rid of the fee.. i can not edit "deposit speed"

Hi there, JASONSTRAW.

Thanks for joining this thread.

At this time there isn't a way to downgrade or revert back to the default deposit time once you've select the faster option. I recommend submitting feedback to the Product Development Team for review. This can be done directly through your QuickBooks Online account by:

1. Clicking the Gear icon in the top right corner.

2. Then select Feedback.

You can keep an eye out for product updates and feature releases by viewing the Firm of the Future site. 

Please don't hesitate to reach back out if you have any other questions or concerns.

Based on my experience, the software automatically sets the deposit speed for five business days for its earliest period user accounts, then automatically selects the deposit speed for one business day for new user accounts. Unfortunately, the user can not elect the deposit speed freely.