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Established Member

ACH Payments

A client paid me on monday via qb ach.  Its now friday.  Payments still shows pending although history shows it cleared their bank on tuesday.  This is very frustrating and hard to sell a product to my clients (im an accountant) that i think is bad.  Is it always going to take over a week to get my money?  If so, im going to ask this client to use an outside qb method.

30 Comments
QuickBooks Team

Re: ACH Payments

Hi there, @ironpenboo.

 

I appreciate you voicing this out and sharing your thoughts about QuickBooks Online Payments. I can provide information with regards to the funding time for ACH payments.

 

For QuickBooks Online users, credit card payments deposit in about 2-3 business days and Free ACH Bank Transfer payments deposit in about 5 business days.

 

On the other hand, processing an ACH or Bank Transfer transactions for Stripe takes up to 7 business days. Check out this article for more details about Stripe transactions: https://community.intuit.com/articles/1626455.

 

If you don't fall under those exceptions above, I'd recommend you contact our QuickBooks Online Care Team. They have more access to accounts and can safely pull up your company information in a secure environment.

 

This information should clarify you as to when QuickBooks ACH payments posted on your account. Let me know how things go and if you have further questions about this concern. I'll be on the lookout for your reply and to further assisting you. Wishing you and your business continued success. 

Experienced Member

Re: ACH Payments

I would like to chime in and say that I had to turn my back on free ACH QBO transfers because I couldn't afford wait sometimes 10 full calendar days to get my money from an invoice.  I said something about this over half a year ago to Intuit, and I'm sad to see nothing's been done to improve it.  

I have transfers with my current service in generally 2 days, so I know it can be done.

 

 

QuickBooks Team

Re: ACH Payments

Hi there, @taxowings.

 

Thanks for joining this conversation. Allow me to chime as well and help make sure that your concern about the QuickBooks bank transfer (ACH) payment deposit time frame will be taken care of.

 

While the free ACH payment deposits will still take up to 2-7 business days. I'll be sure to pass along your feedback regarding this directly to our Product Development team. I also invite you to leave feedback as well to let them know about how this option will make your QuickBooks experience smoother.

 

This can be done directly through your QBO account by clicking the Gear icon in the top right corner, then select Feedback or by going to the following link: QuickBooks Online Feature Requests.

 

just in case, you can check out this article for future reference: Deposits FAQ.

 

That's it! Let me thank you for being a part of our QuickBooks family. Don't hesitate to post again or leave a comment on this thread if you have additional questions or concern. Take care always.

Experienced Member

Re: ACH Payments

I'll check out the link for leaving feedback.  I'd really like to be able to do it for free again, but it was actually costing me money and piece of mind.

 

Last comment: the "2-7 business days" you, and the official Intuit line quotes, is deceptive.  I tried it about 10 times in early 2018, and it NEVER took less than 6.  I'll tell them that, too.

Frequent Explorer *

Re: ACH Payments

I also don't understand why Intuit needs to hold our funds for so long on ACH payments. The NACHA has rulled that it should be next day or even same day. Why is Intuit so far behind? Oh, I know the answer to that... Holding funds means they can make interest off all of our money. While I understand the cost of doing business 7-10 days is ridiculous.

I am looking into reporting Intuit to NACHA, but it doesn't look like they are members. Although, Bill.com is. 

 

read more 

https://www.nacha.org/news/billcom-joins-elite-ranks-nacha-certified-ach-payment-third-party-senders

https://www.nacha.org/rules/same-day-ach-moving-payments-faster-phase-1 

 

I do not feel that any of this post is inappropriate content and hope that Intuit does not sensor it.

Moderator

Re: ACH Payments

Hello ljporreca,

 

I'm here to take care of you. Let me add some details about the funding time of ACH payments.

 

Generally, funds usually reach your deposit bank account within 2 to 7 business days of the transaction. However, some banks may take longer to verify and process deposits.

 

The waiting period, known as the time to funding, varies depending on the time of day you enter transactions, which financial institution you choose for your transactions to be deposited in, and how long it takes your bank to verify and process electronic deposits.

 

We acknowledge your opinion about the ACH payments funding time. We are constantly looking for input and feedback from our users on how we're doing and ways we could do even better.

 

I've sent your idea to our Product Developers so they might consider improving the delays for deposits.

 

To get more information about QuickBooks Online Payments, please check these articles:

We appreciate you sharing your thoughts and please let me know if I can be of any further help. Have a good one.

Established Community Backer ***

Re: ACH Payments


@ljporreca wrote:

I also don't understand why Intuit needs to hold our funds for so long on ACH payments. The NACHA has rulled that it should be next day or even same day. Why is Intuit so far behind? Oh, I know the answer to that... Holding funds means they can make interest off all of our money. While I understand the cost of doing business 7-10 days is ridiculous.

.


I received an email today saying they will be offering next day ACH for 1%

Active Member

Re: ACH Payments

so ACH, which should be done in 1 day, is hijacked by INTUIT so that they can benefit from all the interest from '2-6days'.... BUT, they admit that they can do it in one day if you agree to pay them 1% of the deposit???

 

Intuit needs to be fined massively for consumer fraud... or someone there needs to go to jail.

Moderator

Re: ACH Payments

Greetings, @flydaddio,

 

I appreciate your time getting this to our attention. I can provide you some information about ACH processing.

 

Bank transfers (ACH) normally take 2-7 business days to process. Just recently, QuickBooks Payments introduced an accelerated plan allowing next-day deposits for ACH payments.

 

The new plan comes with a 1% processing fee per ACH transactions. Our Support Team cascaded this update to eligible accounts through mass emails and a message inside QuickBooks. The Next-day deposit is optional for existing customers under the old plan, while new merchants get the plan by default.

 

To see your current Deposit Speed, follow the steps below:

  1. Select the Gear icon at the top.
  2. Under Your Company, select Account and Settings.
  3. Go to the Payments tab.

We are committed to transparency when it comes to fees. If you need further clarification with how this works, you can check this article, or contact our Payments Support Team. There they can provide you in-depth details about the Bank transfer (ACH) payments.

 

Let me know if you have any more questions with QuickBooks. I'll be glad to help.

Established Community Backer ***

Re: ACH Payments


@flydaddio wrote:

 

Intuit needs to be fined massively for consumer fraud... or someone there needs to go to jail.


I don't see any fraud.   They are posting their fee clearly and you are not forced to use the service or even use Quickbooks.  There are other companies, so you can comparison shop

Established Community Backer ***

Re: ACH Payments


@Jen_D wrote:

 

 

The Next-day deposit is optional for existing customers under the old plan, while new merchants get the plan by default.

 


This is disappointing.   I think it would be better if even new customers have the choice . 

Experienced Member

Re: ACH Payments

Well, I guess the only comfort is to know it's not just me.

 

First and last time I get paid by ACH through Quickbooks.  It SEEMED LIKE IT SHOULD BE FASTER THAN PHYSICALLY MAILING A CHECK but, it has now been 8 full business days and 11 calendar days and yet, no deposit.

 

And no, it's not "my bank being slow" - I've gotten many ACH payments NOT through QBO and they happen same or (worst case) next business day.

 

The worst part is I went in eyes wide open for the "2-7" days they quoted, but obviously that's BS.

QuickBooks Team

Re: ACH Payments

Hi there, @MikahB.

 

Thank you for joining this thread and providing some details.

 

As mentioned by my colleagues, bank transfer (ACH) verification and processing time range can take up to 2-7 business days. In your case, since it's more than the expected depositing period, it's best to directly get in touch with our phone agents.

 

Your funding issue requires pulling up your account information, which I am unable to do in this public forum. They have the resources to investigate in a secure environment and to view the details of your account.

 

Feel free to swing by the Community if there's anything else I can help. Keep me posted as well on how the call went, MikahB. Wishing you all the best!

Experienced Member

Re: ACH Payments

So, yes - there was an issue with my deposit.  Apparently my bank "refused the deposit."  Did I ever get a notification letting me know that?  Nope.  Text?  Email?  Phone call?  Nope.  Admittedly the bank should have done this as well - I have contacted them also.

 

Called phone support yesterday and spent 2 hours on the phone with various folks only to end up getting an ancient PDF form emailed to me to fill out and email back to make a change to my bank account (my bank uses different routing numbers for outbound electronic "checks" than inbound ACH transfers).  QBO online Payment Bank Account edit screen wasn't working.

 

Anyway, the good is that supposedly I should get my money today or perhaps tomorrow, the bad is that it seems Intuit would have been more than happy to hold my deposit indefinitely because of a problem until I reached out to find out where it was at.

 

Lesson learned.  I will continue to have customers mail checks for large deposits, this seemed faster and safer but has proven to be neither.

 

EDIT TO ADD: I will say at least the phone support people I dealt with were friendly and professional if not super technically capable to understand and solve the issue.  But, those 2 hours could definitely have been less pleasant had the phone support been rude or indifferent.

QuickBooks Team

Re: ACH Payments

Hi there, MikahB.

 

I'd like to add to this discussion and provide additional clarification.

 

First and foremost, I'm happy to know this has been sorted out and that you'll be able to receive the funds already. Although, regarding the notification, we generally would send an email notifying you about any issues with the payment.

 

Since you didn't receive one, it's possible that the email address we have in our system might be the wrong one. However, since you've already called, I'm confident that this was also corrected by our phone support team so we should be able to notify you moving forward.


Lastly, I want you to know that your voice matters and it's good to know that our specialists were able to help you in a friendly and professional matter. I'll be sure to reach out to them and let them know about your experience. This way, we'll be able to determine what we need to implement moving forward to provide the best QuickBooks experience.

 

Please let me know if there's anything else I can do for you to help you succeed with QuickBooks. Thanks for dropping by, wishing you and your business all the best.

ProAdvisor

Re: ACH Payments

Make this normal QBO experience dealing with ACH Payments history...

 

7 business days to 10 business days. < 7 days not normal.

Frequent Contributor *

Re: ACH Payments

Do not sell the product to any client not willing to wait over a week for an ACH.  They should look for a better product.  I'm a frustrated person waiting for a payment from a client who paid me a week ago with ACH.  I never imagined it would take over a week.  Didn't discover that was they way QB designed it until searching for help in this forum.  Lesson learned.  I'm done recommending it until this is fixed.

Frequent Contributor *

Re: ACH Payments

I wish I'd discovered this forum *before* I offered to have a client pay me with ACH.  It never occurred to me their money would be withdrawn immediately, but it would take over a week to see it.  

Frequent Contributor *

Re: ACH Payments

Yes.  Tell them this.  One should never do business with a bank that can't be trusted.  Advertising 2-7 days is a lie, plain and simple if it isn't designed to take 2 days. 

Frequent Contributor *

Re: ACH Payments

^^^^^^

THIS

Moderator

Re: ACH Payments

Hi there, SimplyDan.

 

I've already answered the same concern you've posted. You can visit this link if you haven't checked it yet: https://quickbooks.intuit.com/community/Payments/Why-does-it-take-so-long-to-receive-payments-throug....

 

This should point you the right direction. Let me know if you have any other concerns. I'm always around to help.

Experienced Member

Re: ACH Payments

I'll add my voice to the many others who are mad about how long Intuit hijacks our money. Waiting 10 days for an ACH transfer is ridiculous and unjustifiable. And on top of that, you demand 1% of the invoice to turn it over in 24 hours. 

Intuit isn't acting as a trustworthy agent. You're acting like a hostage taker. 

This is why I am shopping for a new, more trustworthy billing platform. 

QuickBooks Team

Re: ACH Payments

Thanks for joining this thread, madlogo.


Allow me to chime in and point you in the right direction about the waiting time for ACH payments.

 

Ideally, this type of payments can take up to 2-7 business days as mentioned by my colleagues. The waiting period may go beyond the specified time for specific reasons that are stated on this thread.


I can see a lot of customers are voicing out regarding the funding time for ACH payments. We take this as an opportunity on how to make this feature work better to help improve customers’ experience while using the software.


I’ll let you know if there are any updates about this issue. Aside from that, you can also visit the QuickBooks Blog site to know more about the latest news about the product, and enhancements.


This should help you move forward. Reach out to me if you have any questions or concerns about QBO. Please know I’m always here to assist further.

 

Experienced Member

Re: ACH Payments

Thank you for your response. As you can see by the number of customers voicing complaints, everyone understands how long Quickbooks takes to do ACH transfers. We don't need it explained to us again.

What we are saying, very simply, is that you are too slow. You hold onto our money in a way that borders on abuse of the relationship. We all know that ACH transfers typically take 1-2 days and can be done same day. There is simply no plausible excuse for Quickbooks to hold onto our money for up to 7 business days. In my case, it has routinely been 10 calendar days.

We also all know WHY you are holding onto our money. So that you can play the float. That's fine, for a day or two, but a week? No. That's unacceptable.

Quickbooks is leveraging its market dominance to squeeze customers and make use of our money. We want the policy changed. We want our money in a fair and timely fashion. We do NOT want another CSR to explain the policy again.