For the first batch of invoice payments, funds will appear in your bank within approximately five business days, as your account is being set up, @mpwovenn.
Once your QuickBooks Payments account is fully activated, payments will be receives within 3 to 4 business days. Deposits are processed daily, except on Sundays, Thanksgiving, and Christmas.
You can check the status of your deposit through your Merchant Services account by following these steps:
- Sign in to the Merchant Service Center.
- Click the drop-down list beside Activities & Reports and select Deposits.
- Choose the date range in the Dates field.
- Click Search.
Just a reminder, banks may occasionally hold funds after they've been deposited. If this happens, contact your bank to check if any additional action is required from you.
For a detailed understanding of the deposit schedule and process, check out this article: Find out when QuickBooks Payments deposits customer payments.
You can also check if the payment is in the Undeposited Funds account. This account tracks payments in QuickBooks until you deposit them into your bank. Since banks often combine multiple payments into a single transaction, you can match those payments in QuickBooks once you have your deposit slip listing what’s been combined.
If you'd like to use instant deposits, you can transfer funds to your bank account in less than 30 minutes. You can also set up automatic scheduling for instant deposits. Keep in mind that a QuickBooks Payments account is required for this feature.
For a one-time instant deposit, you can receive your funds the same day if you request it before 3:00 PM PT. After that, the deposit will be processed the next day. You can request a deposit at any time.
You can use Instant Deposit up to 5 times per day, with a daily limit ranging from as little as $1 to as much as $25,000. The limit resets every day.
Refer to this article for more information about instant deposit: Get instant deposits.
Leave a comment below if you have any additional questions about bank deposits.
