For your reference
You may have other options to accept ACH payment for free.
I appreciate your time getting back here, mporterpas.
In QuickBooks, there is no monthly fee when you set up the QuickBooks Payments feature. However, transaction fees vary depending on how you processed the payment. Please refer to the QuickBooks Payments website for the most up-to-date information for the fees.
To learn more about QuickBooks Payments fees and the accountant version of QuickBooks Online, you can read these articles:
If you require any further information, please feel free to get back to us at anytime. Enjoy your weekend!
I understand that, but I have been using this feature for my accounting business for over a year with no transaction fees. I signed up for this feature because it was free and to test it out for my clients. Why am I now being charged transaction fees?
Thank you for the quick reply, @mporterpas.
I appreciate you for understanding and using our products for over a year. Let me share with you some information about processing fees in QuickBooks.
Currently, there are changes to QuickBooks Online Payments Bank Transfer (ACH) Deposit Speed and Pricing. Starting April 2021, ACH payments will deposit the next business day and you'll be charged a 1% transaction fee (max$10) on each transaction. That's why you're now being charged transaction fees.
This price increase helps us to continue investing in and innovating our products and services. Also allows us to continue adding new features that can help you manage your business. I understand that this costs you much than what is used to. So, I'll take note of this idea.
Additionally, there will be no charge for credit card or debit card payments. And they'll continue to deposit the next business day at your current rates.
To learn how to check when QuickBooks deposits customer payments into your bank account, please visit these articles:
Let me know in the comment section if you have further questions about processing fees in QuickBooks. I'm always here, ready to provide explanations. Keep safe.
This is just the right place to get the answers you're looking for, @loot.
To clarify, did you mean eCheck (electronic check)? ACH and eChecks are both types of electronic fund transfers. The key difference between ACH and eChecks lies in the initiating party. In an ACH relationship, the receiving party can initiate the payment. With an eCheck, the payment always initiates with the paying party.
However, if you're referring to the "Check" payment method you use on Receive Payment, Sales Receipt, or Recurring Transactions page, these are considered ACH payments if you initiate the payment by entering the customer's bank info.
You can check out these articles for more insights on how do ACH and eChecks differ:
Let me know should you have any further questions on how ACH and eChecks works. I'm always around to answer them for you. Have a great day!
Hello @Jill 2,
Let me help share how your transaction is charged when accepting online payments from your customers.
To start with, both bank transfers and credit card payments are charged based on the number of transactions. To illustrate:
In addition, here's an article you can read to learn more about the charges: Accept Credit Card Payments.
Lastly, I've also included this reference for a compilation of articles you can use while working with us: Common questions about payment deposits in QuickBooks Online.
If there's anything else that I can help you with, please let me know in the comments below. I'll be here to lend a hand.
"Additionally, there will be no charge for credit card or debit card payments. And they'll continue to deposit the next business day at your current rates. "
This statement is logically incorrect. "There will be no charge for credit card or debit card payments" followed by "they'll continue to deposit the next business day at your current rates." So are credit card fees and debit card fees waived? Are they free? Are we paying the same for them as before?
Why would you force customers to pay for checks? Clearly no one really wanted this.
The reply by intuit does say NO FEE FOR CREDIT CARDS. I was also told this by QBO Cares tech support although he could not email me the supporting document which makes me believe it's complete horse**it. I'm moving my payroll from Intuit over to accountants world, I don't use intuit tax products and I am probably going to push all of my new clients toward Xero or some other accounting system online. I will no do business with a company that actively tries to compete with the professionals that are responsible for building their business in the first place. I recommend the rest of you do the same. The company has lost it's way. It offers no customer support for any of it's products it offers to professionals. They are sending a message loud and clear. Take your business and clients elsewhere. We don't need you.
I was mad enough to contact Investor Relations. I suggest anyone else who wants to complain to do the same.
Told them to give message to CEO and QB Product Exec that I want to have an opt-out option the 1% fee and why. Told them to look at all the complaints about this in the "community" messaging. Told them online support people can't solve them problem. Escalate to executives.
As a Small Business Owner I am absolutely disgusted with the timing of this nevermind such a significant increase. I am also a PR and Marketing expert - clearly they need our message to be heard. i am personally looking for other options as the integrity of this has left such a bad taste in my mouth. I suggest flooding their Facebook https://www.facebook.com/IntuitQuickBooks/
Messenger and making your voices heard. Reputation management in the social media world is key. This is a place to get attention. BELOW IS MY MESSAGE:
This is the worst time to implement a 1% charge for ACH payments. I have had this service for years and this was free. My business is already struggling and then to see this charge that I was not aware of this increase. I don't need my money in our bank account within 1-2 business days, I was just fine with receiving it within 5 business days with no charge. This is unbelievable its almost like you want businesses to shutdown even more.
If you are running a B2C operation, you should explore what your bank can offer. Wise offers ACH payment for free (2-3 days) and wire payment for $7,5 per transaction (< 12 hours).
Otherwise, consider a payment processor to integrate with your QBO. One app offers $0.65 + 0.2% to integrate with your QBO invoice.
Is anyone on these threads a lawyer? I feel like this is considered a highly deceptive practice that would violate consumer protection laws. We've been groomed into using the free ACH service for years and now my clients are familiar with my billing process. So to change to another platform would be a disruption to my business.
About a year ago Intuit stopped offering the free service to new QB users, but allowed old QB users to remain free. So their excuse as to why they changed is a blatant lie. Both platform options have existed for years. $0 fee users have had the option to switch to 1% next day for over a year. And sounds like WE DIDN'T WANT TO! I would consider this deceptive because it's a pattern...
5 years ago QBO was what, $20/month at retail? Its gone up 350%? There's been some improvements but most of the changes have been quirky and annoying. Proadvisors can no longer transfer existing clients over to our wholesale pricing. When clients don't want to pay the price, guess what? Now they can't even take their books with them to go elsewhere. Magically without any warning we can no longer back up QBO accounts to import into another program. Or if a client goes out of business just to back it up for record keeping requirements. QBO NOW OWNS THEIR BOOKS! Either keep paying the monthly fee or your books are gone! What if they get audited by taxing authorities 3 years later?
I used to use Intuit Payroll for Accountants (formerly PayCycle) which was great for the handful of payroll clients I had. And much better (and cheaper) than QBO Payroll which I hate with a passion. They promised to leave the platform alone, which they did for the most part, but then jacked up the price to where Intuit was getting the bulk of my payroll fees.
They also forced one of my clients on a 5 day lead time which is ILLEGAL in Massachusetts! I threatened to file a complaint with the MA AG because Intuit was forcing me to break the law and pay employees past the max 6 days after end of the pay period (6 days not business days). I was told to send 6 months of client bank statements to get them off 5 day lead which I did. I waited on hold for hours with various departments multiple times. And I was given a fake number to go higher up the chain when they wouldn't change the lead time! Yes a fake number!!! I am now using Accountant's World payroll and so glad I made the switch.
Now QB is partnering with Melio for bill payments offering yet another "free" service. Who wants to predict what the next move will be? Wait until more and more QB users are groomed into using it, spend the time and effort setting up all of their vendors, and then BOOM... 1% fee on vendor payments? Not to mention their recent lawsuit with the IRS for hiding their free Turbotax software from consumers. Intuit has a distinct pattern of deceptive and greedy business practices. Great opportunity for a lawyer who wants to start class action lawsuit...
This seems ridiculous. What if I don't care about the speed of deposit? I have been using QBOnline for my business since 2012 and one of the best features was the NO charge for bank transfers from my customers. There should be an option to opt out of the "1%" charge. I shouldn't have to pay $10 for bank transfers.
Definitely unhappy with this update.
I am 100% in agreement with you. I'm really upset to see the $10 fee all over my account. It's not like the price for their services hasn't increased over the years! My QBOnline and Online Payroll have both gone up considerably, and to top it all, services that used to be FREE are not being charged.
As I mentioned before, I have been a customer since 2012, with 3 different companies and this is upsetting enough to make me want to find a different system and take all my business elsewhere.