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btol
Level 2

ACCOUNT CLOSED NOW FUNDS ARE ON HOLD

I have seen MANY posts concerning this issue going all the way back to 2020.

How is it possible that there has been no resolution to this on Quickbooks side and that they are allowed to do this after 3+ years of people making formal complaints on the same issue.

 

Like many I made a Quickbooks Payments account. Processed a payment. Few days later i get a notification that my account has been closed due to a "business decision". They are now holding funds north of 40k with no resolution in the foreseeable future.  It's been 3 weeks for me.

HOW IS IT LEGAL OF THEM TO HOLD FUNDS FOR 270 DAYS, LET ALONE WITH NO CLEAR PATH FOR RESOLUTION. It's clear that they intentionally hold people's money for whatever reason. 

Businesses need their money. Period. Employees need to be paid, bills need to be paid, most business cannot wait more than a couple weeks for their funds.

It is insane that there is no phone number for the Risk Management team. 80% of these issues could be resolved with a 10/20minute phone call.

 

Like everyone I have called nonstop, spoken to many representatives, been given all sorts on conflicting responses. No one knows anything. The best they can do is tell me is "It's under review". 

 

If anyone has a phone number to contact someone that can help please help me out. A Magic word, a special extension, anything. Any pending lawsuits looking for people to join please reach out to me. 

It's crazy that businesses can potentially shut down over Quickbooks inability to provide support even after you've submitted everything they need to do their "review".

 

Before someone from QB responds to this with the same generic BS that they respond to everyone with. Trust me, anyone posting here has tried all your contacting methods and it's clear NO ONE can assist properly with this issue. Respond with some actual help or the information of someone that can actually assist.

3 Comments 3
DARB21
Level 2

ACCOUNT CLOSED NOW FUNDS ARE ON HOLD

Any update on this issue? This just happened to me as well. I’ve had my merchant account with QB for almost 10 years. It almost sounds like a class action lawsuit. They also suddenly closed my QB checking account and cannot explain to me where around 50K has gone. 

MarkAD808
Level 1

ACCOUNT CLOSED NOW FUNDS ARE ON HOLD

This just happened a few weeks ago, customer paid with credit card, then it was on hold, I sent and answered their questions giving them all my documents.

Still it says viewing. Customer wants his money back, I can’t even refund  him, cause my account is closed!!! 

GebelAlainaM
QuickBooks Team

ACCOUNT CLOSED NOW FUNDS ARE ON HOLD

I appreciate you joining the thread, @MarkAD808.

 

I understand that receiving the payment on time is very important to everyone. I'll be glad to share additional details about the payments that are still not available.

 

In QuickBooks, customer payments may be placed on hold when there are pending details in a merchant's account, transactions, or customers that require clarification before funds are released. This measure is taken to ensure that everything is in order and running smoothly. If a payment is ever on hold, we'll let you know. You'll get an email at the email address you used to sign in to the Merchant Service Center.

 

Since it's already been a few weeks, and the funds are still unavailable even if you already sent all the documents needed and your account is already closed, you'll need to reach out to our Merchant Support Team to get this sorted out in a secure space. To reach them, click the Chat with Us link or get the phone number in this article: Contact Payments or Point of Sale Support. Then, go to the QuickBooks Payments section.

 

I've also included these helpful references when receiving online payments from your customers:

 

 

Tag me in the comment section if you have clarification about it or other QuickBooks-related issues. I'm always happy to help you.

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