QuickBooks Checking FAQ

Note: To use QuickBooks Checking, you must have a QuickBooks Payments account. If you don't have a QuickBooks Payments account, your QuickBooks Checking application process will include applying for QuickBooks Payments.

To apply for QuickBooks Checking through QuickBooks Online:

1. Go to Lending & Banking and select QuickBooks Checking (Take me there).
2. Select Apply in minutes and follow the steps on the application.

You can also apply through the QuickBooks Money mobile app, available for download through the Apple App Store or Google Play.

Only Primary or Company Admins can sign up for QuickBooks Checking and QuickBooks Payments. If QuickBooks Payments is already set up, the application defaults to the Primary Principal. The person that applies and is approved is the only user that can move money to and from your QuickBooks Checking account. Other admins who didn't apply can view balances but can't move funds.

If you signed up for QuickBooks Payments outside QuickBooks Online, link that account instead of creating a new one. Connect a Payments account to QuickBooks Online or QuickBooks Desktop.

The sign-up process is the same, with a few extra questions. To meet regulations, we must collect info on beneficial owners, anyone with 25%+ ownership or significant control of a legal business (excluding sole proprietorships).

You can submit this during sign-up or later via the QuickBooks Checking menu. It must be completed within 30 days, or your account will be closed.

Note: If you have a beneficial owner(s), you can tell us about them when you sign up. You don't have to fill out everything to finish the application, but we recommend you do it right away. You can come back to the QuickBooks Checking menu later to complete the form. You'll also receive email reminders.

You may be approved for QuickBooks Payments but not QuickBooks Checking. QuickBooks Checking is a business bank account, so we must check your information and identity for businesses that aren't allowed to use it. This is according to our Acceptable Use Policy. If declined, review your info and reapply.

Note: QuickBooks Checking is a business bank account, so we must verify the your info of the applicant. The information you provide helps us screen for individuals, businesses, and locations we can't serve, as outlined in Intuit's Acceptable Use Policy.If your application was declined, double-check your details and try submitting again.

Yes, with read-only access. Only the Primary admin can manage the QuickBooks Checking account.

If you use instant deposits, there's no additional fee for using your QuickBooks Checking account. For other debit cards, or bank accounts, the fee is 1.75%. This is in addition to the regular fees for processing transactions.

There are no fees for transferring money by a standard bank transfer. The details are in your Deposit Account Agreement.

There are no fees for keeping money in QuickBooks Checking.

*You may also be charged a fee by the ATM operator in addition to our fee (and you may be charged a fee for a balance inquiry even if you don't complete a fund transfer).

From external bank to QuickBooks Checking: 

• Typically 3 business days.

From QuickBooks Checking to external bank:

• Average 3–5 business days.
• Instant transfer (if eligible): Available within 30 minutes

On average, it takes between 3 - 5 business days to move money out of your QuickBooks Checking account.

If eligible, you might have the option to use instant transfer for a 1.5% fee. Funds transferred using instant transfer are typically available within 30 minutes.

Note:

• Instant transfer availability and limits may vary.
• Limits are subject to change and may be lower for new accounts.

QuickBooks Checking supports incoming domestic wire transfers only, at no cost. You can receive up to $1,000,000 per wire transaction. You can't send or receive international wire transfers.

To Receive a Wire Transfer

Share the following with the sender:

• Account holder name (individual or business)
• Routing number
• Account number
• Bank name and address

Find Your Routing Number

1. Sign in to QuickBooks Online
2. Go to Lending & Banking.
3. Select QuickBooks Checking (Take me there)
4. Select Manage.

You won't see your wire transfer if it gets rejected, returned, or declined because the account info is wrong. If you don't see the wire in your QuickBooks Checking account, contact the following:

• If you initiated the wire transfer - reach out to the sending bank
• If your customer sent you the wire transfer - reach out to your customer. They'll need to speak to their bank.

Note: To investigate a missing wire, you'll need to get a Federal Reference number or an IMAD from the sending bank.

Yes, The FDIC insurance limit for QuickBooks Checking is a maximum of $5 million. That means balances of up to $5 million are insured by the FDIC.

Our banking partner, Green Dot, is FDIC insured and includes up to $250,000 of coverage. For customers with more than $250,000 in their QuickBooks Checking bank accounts, we use an FDIC sweep program to increase FDIC coverage up to $5 million.

To learn more about the deposit sweeps program, check out FDIC insurance limit for QuickBooks Checking.

If you have a dispute, call the number on the back of your QuickBooks Debit Card. Our partners at Green Dot will review your account and make sure everything is settled.

We don't currently offer overdraft protection for QuickBooks Checking. If you charge or withdraw more money then you have, the transaction will get declined.

The balance shown in the Cash Flow menu is always the most up-to-date. In contrast, the Banking menu (or Transactions menu in Business View) updates automatically once a day to reflect data used for accounting. For the latest available data, you can manually refresh it anytime by selecting Update in the Banking menu.

1. Sell all bitcoin (if applicable) purchased through QuickBooks.
2. Wait for the bitcoin sale proceeds to be deposited into your account.
3. Spend or transfer it to your external bank account. The account must have a $0 balance.
4. Once the balance is $0, call the number on the back of your QuickBooks Debit Card for assistance.

There are situations when you may need the bank address. If you or another bank needs this info:

Green Dot Bank
1675 North Freedom Blvd, Provo, UT 84604

QuickBooks Online:

1. Go to Lending & Banking, then select QuickBooks Checking (Take me there).
2. Select Manage.
3. Select QuickBooks Checking account and then Monthly Statements.

QuickBooks mobile app

1. Go to the Banking or Cash Flow menu.
2. In the QuickBooks Checking section, select Manage.
3. Select Account info and then Monthly Statements.

QuickBooks Money mobile app

1. From the Overview tab select Banking.
2. Select Manage account and then select Account info.
3. Select Monthly Statements.

Yes, if you earn $10 or more in interest throughout the year. We’ll provide you with a 1099-INT form by January 31 of the following year. Here's how you can access your 1099-INT form:

1. Go to Lending & Banking, then select QuickBooks Checking (Take me there).
2. Select Manage account.
3. Locate the tax forms in the QuickBooks Checking account section.
4. Choose the correct tax year and select Download.

If your QuickBooks Checking account is closed, we'll mail you a 1099-INT.