Can someone explain how they can close your bank account and keep your funds for 270 days? Without any explanation or appeal?

I don't think Intuit can close your bank account unless you bank at Intuit, which I didn't know was a thing.

Where do you bank? Who closed your bank account?

Quickbooks has an option for Quickbooks Payments, a Merchant account through Green Dot Bank. You can accept credit cards and ACH through this portal. And yes they can- and just did- close my account. I called QB and Green Dot and they have the exact same script. "your account was closed as a business decision, I have no other information to offer you, this is a final decision and no you do not have access to your money because the account is closed" . It is by far the most insane thing I have ever heard of. Having the ability to close an account, yes, keeping your money for 270 days- in what universe is that legal? I didn't believe it either and Googled "Intuit closed merchant account and holding money". I am not the only one. 

Hello @rensom, and thank you for bringing your concerns to the QuickBooks community. 

I understand that account closure can come as a surprise, especially without more information from support. While I can not discuss account-specific information here in the community, I did want to share our QuickBooks Checking (Green Dot) Terms of Service that outline more about the reasons we may terminate an account. 

The section "Termination or Suspension of Service or Account" may be helpful in this case, and explains "We may suspend or terminate your Account, your Card, and/or access to or use of any or all of our services at any time without cause in our sole discretion. We may immediately suspend your Account, your Card, and/or the use of our services if you breach this or any other agreement with us or we have reason to believe there has been or may be unauthorized use of your account.

Again, I understand that this is a disruption to your business and would be happy to answer any other questions you have about account closures. Please let me know if I can add clarity in any way.

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@rensom  wrote:

Quickbooks has an option for Quickbooks Payments, a Merchant account through Green Dot Bank. You can accept credit cards and ACH through this portal. And yes they can- and just did- close my account. I called QB and Green Dot and they have the exact same script. "your account was closed as a business decision, I have no other information to offer you, this is a final decision and no you do not have access to your money because the account is closed" . It is by far the most insane thing I have ever heard of. Having the ability to close an account, yes, keeping your money for 270 days- in what universe is that legal?

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Wow! I didn't know. Fair warning, I suppose, for anyone thinking of doing business with Intuit. I wonder what the point of this account with Intuit is? And why they think they can close it and keep your money? I'd be upset too, to put it mildly, using G-rated words.

This reeks of abuse, IMO. First they close your account ("surprise!") and then they won't tell you why. And won't give you your money? It doesn't sound like they're contesting the money, as if it isn't yours, but instead they just won't give it to you. That's nuts.

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@Mark_R wrote:

While I can not discuss account-specific information here in the community, I did want to share our QuickBooks Checking (Green Dot) Terms of Service that outline more about the reasons we may terminate an account. 

 

The section "Termination or Suspension of Service or Account" may be helpful in this case, and explains "We may suspend or terminate your Account, your Card, and/or access to or use of any or all of our services at any time without cause in our sole discretion. We may immediately suspend your Account, your Card, and/or the use of our services if you breach this or any other agreement with us or we have reason to believe there has been or may be unauthorized use of your account.

How is this in any way helpful? (Hint: It's not.)

Among other things it does not say that Intuit will be keeping a customer's money for months in the case they shut down the customers account on a whim without warning.

Wow! I'm sure glad I bailed on the Intuit Merchant service years ago!

I JUST HAD 6800 BE HELD BY INTUIT IVE BEEN TOLD THE SAME THING HOW LONG BEFORE I GET MY MONEY THIS IS CRAZY!

Any update? I’m also waiting for funds. 

I know how precious time is for you and the importance of your funds, @theinroad.

Allow me to provide insight about your funds in QuickBooks Online (QBO).

It seems that your funds are delayed or held on your deposit, please note that it doesn't necessarily indicate any issues with the transactions. Rather, it means that we need to review the payment thoroughly. Also, I recommend checking your email for notifications regarding the reasons why your funds are on hold. You can also follow these steps to check the status of your customer's payments:

1. Sign in to the Merchant Service Center.
2. Select Transactions.
3. If you see “Withheld” in the METHOD column, it means that the payment is on hold and we’re reviewing it.

For more detailed information, you can check this article: Learn about funds on hold in QuickBooks Payments

Moreover, as this involves checking your account details, which is beyond the scope of what can be done in the Community space, I recommend contacting our payment support. They will securely access your account and provide possible solutions to address your concerns.

Here's how to reach them:

1. Go to the Help menu.
2. Hover to the Search tab, then click Contact Us.
3. Type in a short description of your issue and concern in the box provided.
4. Click Continue.
5. Select the Chat or Callback option.

You can contact us from Mondays to Fridays, 6 AM to 6 PM PT. 

For future reference, you can check the deposit speed for your product to learn when QuickBooks Payments deposits your customer's payments. 

If you have any concerns about your funds, please tag me in the comment section, @theinroad. I'll assist you in any way possible.