How do I cancel Instant Deposit?

Hello user62652,

I'm happy to share some information on this. Instant funding is an opt-in-only service, and once added to the account, it can't be disabled.  However, you don't have to cancel the Instant Deposit feature to avoid instant deposits by turning off the scheduling of them:

1. Within your account select the gear icon. 
2. Navigate to Accounts and Settings.
3. Select the Payments tab on the left.
4. Select Deposit Speed.
5. Set a schedule for instant deposit.
6. Click the All Days checkbox to toggle all days to Off.

Now, when a deposit becomes available, you should be prompted to mark it for Instant Deposit, or not.

1. Go to Settings ⚙ and select Account and Settings.
2. Select the Payments tab and go to the Deposit Speed section.
3. Select Change next to Scheduled instant deposits.
4. Uncheck the days to stop automatic instant deposits for those days. Then select  Save schedule.

If the deposit is already underway, canceling will not the instant deposit will not be possible. 

I'm linking a helpful article for you to look over as well: Get help with Instant Deposits.

Let me know if I can help with anything else. Take care!

Thanks, but this isn't what I need.

I need to turn off "Instant Deposit" for payments received from clients.

@user62652  Hi there I can help you with that question.

Here are steps to take to disable the feature for online payments on invoices:

1. Sign in to QuickBooks Online.
2. Click the Gear icon on the upper right hand side.
3. Under Your Company, select Account and Settings.
4. Click the Sales tab.
5. In the Customize section, click on Customize look and feel.
6. From the Custom form styles list, click Edit on the template to modify.
7. Click the Payments tab.
8. Click on the payment method(s) to disable.
9. Select Done.

It might seem as if the boxes reverted to their original state but once you create a new invoice you'll see the boxes on the invoice template are no longer checked for online payment processing.

You can also enable/disable card and ACH processing from individual invoices, QuickBooks Online is designed to memorize settings from prior transactions.

Let me know if this helps!

Unfortunately, this doesn't do it.

QB support told me today that once one enters a debit card to activate Instant Deposit, one cannot turn off the feature.  Crazy that one can't remove the bank card one inputted into the system.  The policy must violate some federal banking or privacy protection regulation.

Good morning, @user62652,

Once the update has been made to faster funding, the system doesn't allow a customer to switch 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

There should be a way to remove our banking information from the application.  You holding it when we don't want it to be held is horrible business and violates trust.

Hi @user62652,

In order to process payments with Merchant Services, we would have had to have a bank account on file to credit/debit your account.  Electing for Instant funding requires a debit card; once Instant funding has been opted in, there is not a way to turn it off or remove the debit card on file, unfortunately.  

In order to activate Instant Deposit, one is required to enter the debit card of the bank account to which money is to be deposited.

On the marketing page on which ID is described, it says there's just a 1% fee for the service.  It isn't until after one signs up that one sees it's 1% on top of everything else.

Anyway, I'd like to have my debit card removed.  All you need is my regular bank account number for regular deposits.

Refusing to remove my debit card is ridiculous.

Hi @user62652,

Instant funding is an opt-in only service; once added to the account, it can not be disabled, unfortunately, and we have no way of removing your debit card. The best option for you at this point would be to cancel your existing merchant account and sign up for a new one without the Instant funding option. 

Also, just to clarify, the additional 1% is only on the transactions you choose to receive instant funding on.  When you process an eligible sale, there will be an option in QBO where you can request the instant funding on a specific transaction.   Your account is not defaulted to where all your transactions are instant and you are immediately charged the additional 1%.

I signed up for instant deposits and now am being charged processing fees in transactions I didn’t approve as instant deposit transactions.  How do I deactivate this automatic instant deposit feature?

Thanks for joining this thread, @MC52. 

Currently, there isn't a way to deactivate the automatic instant deposit option in QuickBooks Online (QBO). I'd suggest canceling your payments account and sign up for it again without this feature.

For the charges, I'd recommend contacting our QuickBooks Payments Customer Support Team. They can check the processing fees for those transactions that you didn't approve as instant deposits and help fix them. They are available from 6 am - 6 pm PT (Mondays to Fridays). Here's how: 

1. Go to this link: Contact Payments Support. 
2. Locate the QuickBooks Online with Payments & Merchant Service Center section. 
3. Log into your QBO account. 
4. Click Help at the upper right.
5. Choose Contact Us.
6. Enter I'm being charged processing fees in transactions I didn’t approve as instant deposit transactions. in the What can we help you with? box. 
7. Select Let's talk.
8. Choose a way to connect with a live agent. 

You can always visit our blog site to keep you posted on our latest news and product updates. 

Also, I recommend visiting our guide to get a list of articles that can help you manage your merchant account and other payment-related tasks. 

The Community and I will help you if you have other concerns. Take care.

You don't have to cancel the Instant Deposit feature to avoid instant deposits and paying the extra fee. All you need to do is turn off the scheduling of them:

Select the gear icon > Accounts and Settings > Payments tab on the left > Deposit Speed > Set a schedule for instant deposit > Click the "All Days" checkbox to toggle all days to "Off".

Now, when a deposit becomes available, you should be prompted to mark it for Instant Deposit, or not.

This is ridiculous that you can't turn off that feature. There is no reason that this change couldn't have been instituted in the past year since so many people have been complaining about it. I would have NEVER signed up for it if the 1% had been listed up front.

No way am I going to reset up all of my payment information just because you all can't get it together enough to add a cancel feature. I don't find your work-around to be a satisfactory solution.

I hope to see this change with the next update in a few months.

Hi, this past week I figured I didn't want to pay the 1% fee for the instant deposit as well and when I saw this conversation I was chocked that we could not go back to regular deposits.

I called QB and spoke with a representative that told me how to do it.

Follow these steps:

- On your profile click on the GEAR (top right hand side);

- Under the "Your Company", click on ACCOUNT AND SETTING;

- And then PAYMENTS;

- "Deposit Speed: Schedule Instant Deposits" - Click on CHANGE;

- Unclick all the marked days, leaving all the days OFF

- SAVE SCHEDULE

Now all your funds will arrive in your account at the standard deposit speed and the 1% fee should not be charged.

Hi, I just talked to QBO representative about removing our instant deposit (which we did not signed up for) and she said that we have no option to elect whether to use instant deposit or not.  Our firm does not want to use it because of the fees but QBO said that we do not have option to revert back.

Is anybody here has the same experience?

Is there a way to get out of this instant deposit?

I have started being charged 1% on invoices paid via quickbooks. I did not request instant deposit. How do I turn this off?

Thank you!  Will this eliminate the 1% fee that started showing up on 3/14?

Once I am in payments on QBO, there is nowhere that says deposit speed.  I have opened all the editable sections, I believe.  Help?

I'm here to ensure this gets resolved, Annieb40.

Let's perform some basic troubleshooting to determine if this is a browser-related issue. To do this, I'd suggest accessing your account via a private window.

Here are the keyboard shortcuts: 

• Safari: Command + Shift + N 
• Google Chrome: CTRL + Shift + N
• Mozilla Firefox or Microsoft Edge: CTRL + Shift + P 

Once done, turn off the scheduling. If you're able to do so,  let's clear the browser's cache. This improves the program's performance.

You can also use supported browsers. They'll provide you the best and most secure experience with QuickBooks.

To learn more about instant deposits, please see these articles:

• Get Instant Deposits
• Get Help with Instant Deposits

As for the fees that showed, it would be best to reach out to our QuickBooks Payments Support.  They can check those transactions that you didn't approve as instant deposits and resolve them.

Additionally, find out when QuickBooks Payments deposits customer payments. This ensures you're able to track the correct deposit speed of the transactions.

In case you'll need assistance in dealing with your customers' deposits, don't hesitate to get back to this thread. We're always here to help you.

I turned all days off on "Schedule instant deposit" but all my funds are still getting deposited instantly. I'm going to cancel quickbooks for good if I can't turn it off. I never agreed to it.

@David Zheng 

Is it about ACH payments? It is their new policy. You may have other options to accept ACH payments for free and integrate it with your QBO. Otherwise, contact us in private to purchase a 3rd party conversion service. 

Same here! Was on phone for over an hour with customer service rep stating that there is now way to turn it off. I had all the days unchecked as well and they still stole $1000 bucks from us. Not happy at all and hope all their customers throw a fit over this. No opt out?!?

Hi there, Instafreshener.

I appreciate you for letting us know about your experience with the support. This is something Intuit doesn't want you to come across in your future interactions.

Also, there isn't a way to opt out of the Automatic Instant deposits feature in QuickBooks Online (QBO). 

QBO has an instant deposit fee which is 1% of the total deposit amount. Learn more about this feature through this article: Get instant deposits in QuickBooks Online.

The availability of support depends on which type of subscription you're using. You can try contacting them at another time.

To get you to our Merchant Support, please go to this link. Then follow the steps under QuickBooks Online with Payments & Merchant Service Center.

Be sure to get back to me if you have other concerns. I'd be more than happy to assist you further. Wishing you well.