cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

I have a transfer fee in my bank account from QB. What is this for

 
1 Comment
Highlighted
QuickBooks Team

I have a transfer fee in my bank account from QB. What is this for

Hi there,@wrightjob429.

 

It could be that the transfer fee is the processing fee that was taken out of your customer's payment. Let's say, for example, you have an invoice amounting to $500 and the bank deposit is $497, then the transfer fee is $3.

 

If you're using QuickBooks Payments, you can reach out to our Merchant Service Center. This way, they can provide you additional details about the transfer fee that's showing in your bank account.

 

In addition, you can check your bank statement to determine where the transfer fee is coming from or contact your bank to add more info. 

 

I'm also adding an article that will guide you in categorizing downloaded bank transactions in QuickBooks: How to review bank and credit card transactions on your Banking page.

 

The Community always has your back, so please let me know if you have any questions.

Need to get in touch?

Contact us