Quickbooks Checking Account

Thank you for visiting the QuickBooks Community, Susan CRA. I'll share information on how the QuickBooks Checking account works in QuickBooks, then ensure you can delete this so you have accurate sales transactions.

It seems you're subscribing to our QB payments, which is why you have the Checking account. Please be aware that when you sign up for QuickBooks Payments and get approved, you will usually get a QuickBooks Checking account and a debit card. That it is a monthly fee-free checking account within QuickBooks into which all of your customer payments are deposited. 

Also, it's an interest-bearing account and you get an annual percentage yield (also known as APY) for keeping money in your QuickBooks Checking account. You earn interest on both the money you put in and on the interest the bank pays you. The interest rate is variable and may change at any time which could be the reason there is money in the said account. 

Since you've mentioned that you already set up your bank account to take those funds from the customer's deposit, you can close the QuickBooks Checking account on your end. To do this, it needs to have a $0 balance and you can either spend your remaining balance or transfer it to your external bank account.

Then, make sure your bank account is configured in the Payments tab. This is done to ensure that funds from customer payments are deposited into the proper bank account.

Here's how:

1. Select the Gear icon.
2. Select the Account and settings option.
3. Select the Payments tab.
4. Edit the direct deposit information.

Lastly, you can visit this article to learn about how QuickBooks Payments handles your deposits and funds: Find out when QuickBooks Payments deposits customer payments.

Feel free to reach out to us again if you have other QuickBooks-related questions. We'll be right here for you. Have a good one!

Thank you for your follow-up.  I am concerned that it seems to be very easy to unknowingly sign up for the QB checking account. I just transferred the money to our regular bank account.  I don't think we should be charged processing fees of $70.10 on a $1200 deposit.  We are just starting out and are a very very small company.  How can I get these processing fees reversed?  

Thank you,

Susan 

Hi, Susan CRA.

Thanks for getting back to us. Allow me to hop in and help ensure this is taken care of for you.

Since you already transferred your balance, I highly suggest contacting our Merchant Support team. They have tools that can pull up your account in a secure environment and process a refund for you. They can also help close your QuickBooks Checking account.

Here's how to reach them:

1. In QBO, go to the Help (question mark) icon at the top right.
2. Select or type Contact Us.
3. Enter your concern, then select Let's talk.
4. Choose a way to connect with us.

You can also refer to this article for more information: Contact Merchant Payments Support.

In case you need it, I'll add this article that tackles about QuickBooks Checking in QBO: Learn more about QuickBooks Checking.

For more tips and other resources you can use in the future, I recommend visiting our website: Self-help articles.

Please leave a comment below if you have additional questions about this or anything else. I'll be here to assist. Take care always.

Thanks,  I'm not following your last instructions, but am on my 6th call!  Just to get $35.05 refunded!  People keep transferring me to a different dept. and/or number saying they can't help.  I'm so frustrated with QB right now.  This is a waste of my time and utterly ridiculous. 

And on the 6th call after holding for 20 minutes I was disconnected!

Getting back and forth isn't easy, Susan.

I know how frustrating it is when you're charged for something you didn't purchase. Let me ensure you'll get the assistance you need so you'll be refunded seamlessly.

Reviewing the refund status requires pulling up your account securely. The Community is a public forum, and we're unable to pull up your information here. That said, I'd recommend reaching out to our QuickBooks Payments Support team. I understand you've already contacted them, but you'll have to get in touch again so they can update you regarding the refund status.  

We'll also note your past experiences with our support and take action to serve our customers better.

Please stay in touch if you have other questions. The Community is open 24/7 to assist you further. Take care.

How do you close the Quickbooks checking account?

Hello there! I am pleased to welcome you to the Community space. I'll be sharing the information on closing your checking account. 

Your QuickBooks Checking account must be completely empty in order to be closed. Your remaining balance has two options: spending or transferring it to an external bank account.

When your balance is $0, call us at the number printed on the back of your QuickBooks Debit Card. Our Live Support Team is available to assist you settle everything.

For more details, visit this article: Learn more about QuickBooks Checking.

You may want to learn how to handle bills to be paid later and bills to be paid immediately using bills, checks, or expenses. Please refer to this article: Learn the difference between bills, checks, and expenses in QuickBooks Online.

The Community is always here to provide the information you need with any QuickBooks-related concerns. Drop by again by clicking the Reply button below or post in our forum again. Keep safe!

This happened to me also. I entered my business bank account details for deposits to transfer there and received an email that my funds had been deposited. However, deposited to a QB Checkings I never asked for or authorized. I feel a bit forced to now use the account because I have no other way to access my funds there. I’m hopeful they fix this and hopeful it’s not considered marketing!