Why am I paying 1% unlimited for ACH transactions when it used to be 10 dollars capped? When and why did this policy change?

It's great to have you join the Community forum, Jim. I've got detailed input about ACH processing fees in your account.

In QuickBooks Online Payments pricing, new QBO customers who add Payments on or after September 5, 2023, will have the no-cap ACH plan. If you're paying 1% unlimited for all banking movements you've made, your account has the new ACH fee structure.

As Intuit regularly reviews its prices within the markets, price increases enable us to continuously reinvest in our products and services that will help our customers run their business. Thus, these updates were sent to all merchant users last August 2, 2023, with detailed information about the pricing changes.

For more information on the current payment rates, visit this website: Standard Payment Fees & Rates | QuickBooks Payments.

To ensure that you receive accurate and up-to-date information regarding the fees associated with QuickBooks Payments accounts, I highly recommend visiting the official QuickBooks website.

Moreover, you'll want to review these resources to help process ACH payments and understand when QuickBooks deposits them into your bank account:

• QuickBooks Payments FAQ
• Find out when QuickBooks Payments deposits customer payments

I'm always around in this forum for any additional queries when managing processing fees and payments in your account. Keep safe, and have a good one!

@jim-limepainting 

If you are running B2B, you can use a free 3rd party service to sync with QBO and accept ACH payments for free.

The new 1% ACH fee with no cap is really impacting small businesses. It's pushing many to explore alternatives, and who knows what they'll find—great options are out there now, and QuickBooks is driving people to look for them. The consequences of this greed will soon become clear.

I’ve calculated the fees QuickBooks has charged us under this new rule—1% ACH with no cap—and it’s adding up quickly. It’s unfortunate because QuickBooks has been such a good player in the industry for so long, but this, along with their customer service, is incredibly disappointing.

Adrian

@AdrianCuan 

Yep.  Except for QuickBooks payments, Stripe, and Square, ACH fees are cheap and are not a percentage of the transaction.  Charging a percentage of an ACH transaction is ridiculous.  It doesn't cost you more to write a $10,000 check than a $10 check, and ACH transactions are cheaper for the bank to process.  Bill.com and Melio charge a flat ~$0.50 per ACH transaction.  A $100 fee for a $10K ACH payment is outrageous.  

On Intuit's website, they compare their ACH fees to Stripe and Square (the two other percentage-based ACH fee payment providers), giving you the illusion that their rates are competitive.  It's terribly misleading because they aren't comparing their fees to flat-fee payment providers.