Bank fees for bank feed

Hi there njsherry,

Let me share some information about the Online Banking feature in QuickBooks Online (QBO).

I have good news for you! Connecting your bank or credit accounts in QBO is free of charge. Though, you'll want to contact your financial institution and check with them if they have fees for Online Banking in QBO.

If you're ready to connect your bank or credit card account, follow the steps I've laid out below:

1. Select Banking, on the left pane.
2. On the Banking page, choose Add Account.
3. Search and select your financial institution from the list.
4. Enter your Login credentials for the financial institution's website and select Continue.
5. Complete the security verification steps your financial institution requires and select Securely connect.
6. Select the bank emblem for the account you want to connect.
7. Select the Account type drop-down menu to choose either a Bank or Credit Card account.
8. If you haven't already created the account, you can select +Add new to create a new account.
9. Select Connect.

Here's a relevant article for the detailed steps: How to add and connect bank and credit card accounts.

That's it. If you have follow-up questions, feel free to let me know. I'll be here and ready to help anytime. Have a great weekend!

I understand there is no charge from QBO.

My question pertains to the banks charging.  Do most banks charge monthly for the service?

Hello there, @njsherry.

Thanks for the quick response. I’m here to get you pointed in the right direction where you can get the information you need about fees when downloading transactions from your bank into QuickBooks Online.

@PreciousB is right. Online banking is a service offered by QuickBooks and is free of charge. However, some banks may charge you for downloading banking transactions into QBO. 

I’d suggest consulting your financial institution and verify this information. Only then, you’ll know if the service is free on their end. 

In case you decided to connect your bank accounts with QBO, here's an article that will guide you on how: https://quickbooks.intuit.com/community/Banking-and-bank-feeds/How-to-add-and-connect-bank-and-credi....

Feel free to reach out to me if you have questions. I’ll be around to help. Enjoy your day!

I am curious about this also.  I have a Wells Fargo client who recently started getting charged $14.95/month for using QBO and is very upset.  This is going to be an issue for many small clients if other banks start doing this.  I read somewhere that the larger banks are moving toward using "Open Standard for Authentication" so interact with QBO and I'm wondering if this is related.  According to the article this was supposed to be better for everyone but if this is the effect it's certainly not better for my clients!  I will be looking for other alternatives if this continues.

KandiJane,

I'm finding that the big commercial banks are charging fees, but the smaller "community" banks do not.  Most small businesses do not get the personalized service at the larger banks either.

Company has been sold but fee is still being charged. How do we get this stopped?

Thank you for posting here in the Community, @bahamabreeze.

I'll provide you some ideas on how you'll be free from being charged. 

Since you mention that your company has been sold, I suggest transferring the QuickBooks account to your buyer. This way, they can use QuickBooks Online(QBO) to track the books of the company.

To transfer the one who manages your books in QBO, you'll need to invite or choose the new master admin. Here's how:

1. In your, QuickBooks go to Gear ⚙ icon and select Manage Users.
2. Select Add user.
3. Choose Company admin as the user type.
4. Click on Next.
5. Enter the new user's info, then select Save.
6. Your new user will get an email from [email address removed] inviting them to your business. They need to select Let’s go! link and sign in.

To complete the process, follow the steps below to make the new user your master admin:

1. Go to Settings ⚙ and select Manage Users.
2. In the User Type column, select Edit ✏ to change them to an admin.
3. Choose the drop-down ▼ in the Action column to the right of the user, then, select Make master admin.
4. Enter the verification code sent to the phone or email, then click on Continue.
5. In the window, select Make master admin to prove that you want to make the change.
6. Then go to the Settings and Choose Sign Out as the current master admin.
7. When the new user gets the invitation email, ask them to click the link and accept the invitation.

Hence, by transferring the admin user, you'll no longer get charged for the subscription.

To manage your payment and plan info in QuickBooks Online, here's an article you can refer to: Update your billing and subscription info in QBO.

Should you need further assistance, I'll be here to help. Have a great day!

I have a customer that is paying 49000.00 up to 275000.00 what is the fee for check? is it a one time fee?? We are new to the system

It looks like you're referring to QuickBooks Payments, 5247719946694503. Let me provide you with the information.

We have a different fee for each payment type. For the ACH bank transfer or check, it's 1% per transaction. Then, it's a maximum of $10. 
 

To help you learn more about the fees, you can check these articles:

• What are the fees for QuickBooks Payments?.
• QuickBooks Payments pricing

We're around if you have other questions. Feel free to visit us anytime. Take care!

Chase bank charge my company $9.95 / month for a bank fee for the connection.

Thank you for reaching out here in the Community, @Madwonger,

The online banking connection with QuickBooks Online is free from fees. Thus, you should be able to connect your account with no additional charges. If your bank requires a connection fee. I recommend reaching out to them and verify the amount.

You can also open the topics from this link for more hints about bank feeds and reconciliation.

If you have any other questions about QuickBooks or banking connection, please let me know by adding a comment below. I'm always here to help. Have a good one!