Payment made by customer through Quickbooks has not been deposited, why?

We decided to use QuickBooks for our newly started company and what a colossal mistake that was. After QB approved our application for a checking account and to receive online payments, our first client duly paid a 5 digit sum via the generated link. At that point, QB cancelled our account without informing us and kept the money in their account. We only found out after a week when the money was still not deposited into our bank. After days of pleading on the phone and messages, we had a collection of contradictory information and still no answers. At this point, as far as we can tell from piecing everything together, QB has made a decision to terminate our account (and that they don't have to and won't explain why) and that the payment was being held indefinitely. That's correct - they wouldn't return it to the payer, they wouldn't release it to us and perhaps most importantly, they wouldn't tell us why or for how long or how it will be resolved. They just kept our money. It has now been over two weeks and we have received zero communication on the matter.

There seems to be no recourse - one of the assistants told us we should have read T&Cs where apparently QB reserves the right to keep our money indefinitely. Another one told me that their manager is busy and will only call me back later - I waited 6 hours. When I called again and said I need to speak to them now because I need to get to a flight to a wedding half way across the world, he told me that if I want to speak to their manager, I should reschedule my flight. I left my phone with a colleague - the manager never called. When my colleague called back next day, another assistant said there is no manager to speak to. 

We are now scrambling to borrow money to pay our supplier. We don't know when or if we will receive the payment. This experience is likely to drive us out of business before we even got properly started. This has truly been one of the most stressful and awful experiences I've had. I would strongly urge everyone to avoid QB checking and payment services and honestly QB altogether.

I understand how frustrating and time-consuming it must be for you to deal with payments that aren't deposited to your account, @Amir Mas.

Please know that I'm here to help you resolve this issue and reconnect the contractor with their submitted payroll information. 

If QuickBooks notices something unexpected in the payments, we'll review them, which causes the deposits on hold. When this happens, you will get an email that has instructions on why and how to fix the issue. 

Please know that the Community is a public forum, and we're unable to view accounts on this platform. To make sure this is taken care of, I suggest contacting our Payments Support Team again for further assistance to check the payment deposit status.

 Here's how to reach them:

1. Click the Help menu in the upper-right-hand corner.
2. Type in "Talk to a human", then press Enter.
3. Select Contact Support Team.
4. Type again Talk to a human and click Contact Support Team.
5. Choose a way to connect with us.

If you need more details about payment holds, here are some articles with helpful information:

• Why are my funds on hold?
• Understanding Payment Holds in QuickBooks Online

Also, you may want to check out this article as your reference in case you need to learn more about how QuickBooks Payments handles your deposit and funds: Find out when QuickBooks Payments deposits customer payments. 

We are fully committed to expediting the resolution of this matter for you. If you have any further inquiries about QuickBooks, please leave a reply below.  I'll be available to assist you at any time.

Have you not even read what I wrote? I haven't said anything about 1099 or contractor's liability. please read my message again.

Hello there, @Amir Mas. It's certainly not a desirable situation when you're unable to obtain an answer regarding the delay in receiving payment from your customer. I'm here to guide you to the right support so you can get the help you need. 

If you're a new user, we'll deposit your first set of payments within 5 business days. The deposit speed would depend on the service you're using and the type of payment.

The first deposits take a bit longer since we're setting up and finalizing your merchant account. Since you haven't received the funds in the allocated time, I'd recommend getting in touch with our QuickBooks Payments Support again so they can help check the status and trace your payments. They have the necessary tools and resources to investigate and provide you with the assistance you need thoroughly. You can follow the steps outlined by my colleague above.

You may also contact them directly through the number displayed on this link: Contact QuickBooks Payments.

To learn more on how QuickBooks Payments handles your deposit and funds, I'd recommend checking out this article: Find out when QuickBooks Payments deposits customer payments.

I've added these articles to learn more about how you can take and process payments in QuickBooks:

• Managing and Avoiding Payment Holds
• Common questions about payments deposits in QuickBooks Online

If there's anything else you'd like to know about the payment deposit or if you have any additional concerns, please don't hesitate to ask. I'm here to support you.