The bank transfer fee says it’s 1%, max $10 per transaction. Does this mean if I get a transfer of 20k I’ll be charged $10 or $200?

javiermjaar · ‎September 30, 2023

Nicole_N · ‎September 30, 2023

Welcome to the Community, @javiermjaar. I'm here to share information about the processing fees when using QuickBooks Payments.

Yes, you're right about the bank transfer (ACH) payments will be charged a 1% fee (max $10) per transaction. In your case, if you receive a transfer of $20,000, the fee would be calculated as 1% of $20,000, which is $200. However, since the maximum fee is $10 per transaction, you would only be charged $10 for this transfer.

Also, our funding speed and cost are updated to be in line with the market standards. For more details about this, check out these links for guidance:

Keep me in the loop if you have any other QuickBooks questions or concerns. I'm always around to help you. Wishing you more success in your business!

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Nicole_N · ‎September 30, 2023

Welcome to the Community, @javiermjaar. I'm here to share information about the processing fees when using QuickBooks Payments.

Yes, you're right about the bank transfer (ACH) payments will be charged a 1% fee (max $10) per transaction. In your case, if you receive a transfer of $20,000, the fee would be calculated as 1% of $20,000, which is $200. However, since the maximum fee is $10 per transaction, you would only be charged $10 for this transfer.

Also, our funding speed and cost are updated to be in line with the market standards. For more details about this, check out these links for guidance:

Keep me in the loop if you have any other QuickBooks questions or concerns. I'm always around to help you. Wishing you more success in your business!

javiermjaar · ‎September 30, 2023

Thank you for such a clear and prompt answer.

javiermjaar · ‎September 30, 2023

Thanks for your prompt and clear explanation

Rasa-LilaM · ‎September 30, 2023

Hello there, javiermjaar.

Thank you for returning to the Community and informing us that my colleague's response provides clarity to your question. Please know that your feedback inspires us to deliver the best solution and customer experience possible.

Feel free to visit the Community again if you have other product concerns or questions. I'd be delighted to respond to them. Have a great weekend.

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The bank transfer fee says it’s 1%, max $10 per transaction. Does this mean if I get a transfer of 20k I’ll be charged $10 or $200?