QB Checking closed and funds held for no reason???

That sounds horrible!  I wonder what sort of conceptual issue they have with you having a bank account with them?

I wouldn't like you to feel and experience this. Helifox2023. I know you're putting so much effort and time into getting your funds. 

If you’re using QuickBooks Payments to take and process payments in your QuickBooks Online (QBO). Then noticed that the recent payment you accepted is on hold. Worry less. It means that we need to review the payment.

If QuickBooks notices something unexpected in the payments, we'll review them which causes the deposits on hold. When this happens, you will get an email that has instructions on why and how to fix the issue. 

Please know that the Community is a public forum and we're unable to view accounts on this platform. To make sure this is taken care of, I suggest contacting our Payments Support Team again for further assistance to check the payment deposit status.

 Here's how to reach them:

1. Click the Help menu in the upper-right-hand corner.
2. Type in "Talk to a human", then press Enter.
3. Select Contact Support Team.
4. Type again Talk to a human and click Contact Support Team.
5. Choose a way to connect with us.

If you need more details about payment holds, here are some articles with helpful information:

• Why are my funds on hold?
• Understanding Payment Holds in QuickBooks Online

Also, you may want to check out this article as your reference in case you need to learn more about how QuickBooks Payments handles your deposit and funds: Find out when QuickBooks Payments deposits customer payments. 

Let me know if you have concerns about managing funds in QuickBooks. I'm always here to help. Take care and stay safe.

They are doing this exact same thing to me.

on Sept 15, 2023 I had a phone/video to set up my account, it was dragged out and unnecessary. The agent was borderline flirting with me also.

while we were doing the set up he had me change a bunch of info I had already input and I think this what triggered the issue, as I didn’t agree with what he wanted me to input but he was supposed to know best right?

well by the end of the convo I added $850 to my checking and within 3 days before the $$ officially cleared, I received an email stating my account has been closed.

i have spent probably close to 40-50 hours with these criminals trying to get my hard earned $ back.

Last week an agent finally told me I’d never see the $$ again unless the original bank pulled it back out, which they wouldn’t bc I have access to the account.

I have no idea how they can legally close my account without reason and just keep my money? They are FDIC insured, and even if they did decide to close it, fine, but don’t they have to give me back my $? This has been awful. I also paid $200+ in fees and was never even able to use the QB program bc my $$ never cleared. The rest of the program is useless to me and I’ll never trust QB again for anything.
I will be seeking legal action and contacting the bbb, every social media outlet, the attorney general for North Carolina and so on. I WILL get my $$ back.

I opened my account 2 days ago and only processed 1 payment which was placed on "hold" after the invoice was paid. And today I receive an email that says my checking account was "Successfully closed". I called support and the representative informed me that I had to wait 2 days to hear back if they decided to open my account, but it's up to their discretion.  I  already received a "Approved" email prior to all of this occurring...now I am being instructed to contact my client and have them do a charge back with their card company in order to obtain the processed funds...what a nightmare.

I’m in the exact situation and I feel like crying.  I don’t understand what to do.  Who goes back to their clients to tell them m, they have to dispute their transactions to get back their money.  We need to collectively sue Quickbooks.  I have $3000 they are holding of my clients money.  How can they do this 

Go to the bbb and complain about this act I've done this and if more people do it then the faster we can take it 

I also have the same problem. Closed my account right in the process of awaiting invoice payments. They are holding funds in my account envelopes & a federal refund being direct deposited. Now about will not allow me to access at all being deactivated. I have switched to another software. So much better. I used Quicken years ago was wonderful. QuickBooks Online was a horrendous nightmare in every aspect. Still can’t get my money or get to support.

What system did you start using instead? I’m going through this exact issue now 

This just happened to me as well. After dozens of calls and escalations, all I get is, account closed for “business reasons”, no explanation, no one to give advice, no way to get the money back that is being held as a “security deposit”.

I have contacted the BBB and my attorney. Last I checked theft is illegal.

And I thought Wells Fargo and Bank of America were bad! They're a fantastic dream next to what you're describing!

I switched to Xero. I like the simplicity. The only issue I’ve had is with a payment processor which is immediately generated when you start using the Xero Invoicing. The processor is GOCARDLESS.It seemed ideal for clients who accept an auto draft payment for their recurring monthly bill. However, after making several inquiries regarding the “exact” posting dates needed to meet a due date,etc. They put our account on review & canceled us with a payment debited from our client’s account & an expected payment date given. So it happens that payments in transit would not be paid & the client would have to claim a chargeback with their bank. It was a retainer payment. (That when over big with our new client  But, other than that I have found Xero much better than QBO & their pricing simple & cost less too.

I am facing the same issue, at this point I care less about your reason. I have big amount on hold and I am a small business owner and I need to make payments. One of your agent says it takes several months to release the funds. you have no rights to hold my money. What is the best way to get my funds back? 

I recognize the urgency of getting your funds back, @Vandana2024.

I'll ensure you'll be routed in the right direction to assist you in processing your funds in QuickBooks Checking.

I appreciate that you've reached out to our Customer representatives. However, I recommend contacting our Customer Care Team Support to find out about the status of your funds. Here's how: 

1. Go to the top right, then click Help (?).
2. Choose or type Contact Us.
3. Enter your concern, then select Let's Talk.
4. From there, choose a way to connect: Have us call you or Chat with us.

You can also check their available hours so your concerns will be addressed promptly.

Additionally, you can check out this article to know how to use the QuickBooks debit card in the future: Use the QuickBooks debit card to get your cash.

You can tap the Reply button below if you have further concerns about managing your funds. We're here to help. Take care always.

We did reach out to customer care multiple times. It didn't help, they said that collections dept will send an email in 2-3 business days. I haven't heard from collections dept. Received debit card but it does not work as the status of the account is closed. This is really frustrating and disappointing.

Please do not give up.  QuickCrooks seems to be doing this to everyone, we were able to get our money back after 9 months.  Thanks to my constant calls, emails and social media campaign.

DO NOT GIVE UP!

Helifox Technologies.

RE: QuickCrooks seems to be doing this to everyone, we were able to get our money back after 9 months. Thanks to my constant calls, emails and social media campaign.

That sounds like an excellent reason to give up on QuickBooks, though not on getting your money!

@Helifox2023  Legally they have to release it after 270 days. (9 months)  THAT"S the only reason they released it then. 

Likely, but knowing what QB has done to other people, I am not sure.

Not a betting man, so please keep making noise.

Helifox Technologies San Antonio 

I am writing to follow up on the unresolved issue with my account that started in mid-May. Despite multiple calls and efforts to resolve this matter, my situation remains unsatisfactory. Here is a detailed account of what has transpired after the previous post:

1. Mid-May: I was advised to create a new account to transfer funds from my original account (Account 1) to the new one (Account 2). I complied with all requests, providing the necessary government IDs and documentation, and was informed that this process would take 2-3 business days.

2. No Update: Despite my compliance, Account 2 was closed without notification, allegedly because it was a business account.

3. End of May: A representative from the Payments Department assured me that refunds would be processed and returned to my customers by the end of that week. This did not happen.

4. Today: Upon contacting Intuit again, I was informed that the funds are being held for potential disputes and will not be released until 180 days have passed. As a merchant, I have requested that these funds be returned to my customers immediately. Holding the funds indefinitely makes no sense, especially when my customers are unlikely to raise disputes if their payments are refunded.

I am a minority small business owner who has invested all my savings into this venture. The lack of communication and the inconsistency in responses from different departments have severely impacted my business. I have multiple case numbers associated with my account, yet there has been no follow-up or resolution. Requests to speak with a supervisor have gone unanswered, and there has been no email communication regarding the status of my funds.

This experience has been incredibly frustrating and damaging. It appears there is no standard process, and each agent provides different information, ultimately deferring to a backend team that is unreachable and unaccountable.

If my merchant account was not verified, Intuit should not have collected payments from my customers. At the very least, the funds should be returned to my customers if Intuit does not trust my account. I need these funds to continue my business operations, and the delay is causing significant financial strain. I would be ok to wait it its couple of bucks but my business relay on these funds. This is such a worst company I have had experience with. Not a trustworthy company.

I am considering reaching out to local politicians and other authorities to seek help. Any assistance on this matter form anyone would be greatly appreciated.

My account was closed, this is a follow up for a post with user id Vandana 2024.

Every penny counts when running a business, Vandana. I recognize the urgency of settling your on-hold funds. Let me route you to the best support available to give you updates on your cases.

I appreciate your efforts in contacting our Customer Service Representatives and complying with their requests. However, I suggest reaching out to them again. They have the necessary tools to safely pull up your account and provide you with the current status of the funds. Here's how:

1. Sign in to your QuickBooks Online (QBO) company.
2. Click the Help button.
   
   
   
    
3. Hover to the Search tab, then select Contact Us.
   
    
   
   
4. Type in a brief description of your issue.
5. Choose between the Chat or Callback option.
   
   
   
   

Support is available from Mondays to Fridays, 6 AM to 6 PM PT.

I will closely monitor this conversation, Vandana, and I'd like to be informed of developments to ensure you receive the necessary updates and prompt resolution. For other queries you may have, just add them to this thread.

That is a standard way of getting help. With multiple calls and chats with QuickBooks, I know how to approach an agent. That is not a solution to the situation that QuickBooks have put me into.

Helifox Twchnologies, a San Antonio based company went through the same thing… you can look us up and call me. I’ll tell you my story.  David Adame Helifox 

I opened the account a couple of months ago and recently discovered that my account had been placed on hold. Upon calling the customer service, I was informed that it was a system-generated error and that my account would be reopened. However, after several weeks passed without any update, I called again and was told that my account had been closed based on a QuickBook review. I am grateful that I only had $50 in the account, which I had opened to test the service before transferring a larger amount, as I had read negative reviews online. I was told that I would not be able to retrieve my money and that I cannot dispute the decision. I am disappointed that QuickBook Money's business checking service turned out to be a fraud, and it's unfortunate that they continue to deceive customers in this manner.