account closed by quickbooks where did the deposits go?

Let's see what happened here, Xelectricx.

Merchant accounts aren't closed or deactivated unless you've requested for it. I'd recommend contacting our Payments Support Team to review the security of your account. You can reach them using this link: Contact Payments Support.

Meanwhile, payments are deposited to your account within five business days if this is your first time to use QuickBooks Payments. This is because we are still setting up your merchant account. The next time you receive the customer payments will be deposited to your account a lot faster. You can also log in to your merchant account to see what is the status of those deposits. You can use the following links for reference: 

• Find out when QuickBooks Payments deposits customer payments
• Common questions about payments deposits in QuickBooks Online

If you still need assistance in reviewing the deposits, you can contact again our Payments Support Team. You can use the contact link I've provided earlier.

Let us know how this goes so we know what else we can do to get everything set.

Hello.. My account got closed with the sum of $760 in it? It wasn’t reversed back to my bank? Can I know why? And i need my money back. 

We want this resolved as much as you do, Bodeylite.

I suggest reaching out to our customer care support so a live agent can take a better look at your account. You can click the link provided by JamesDuanT at the top to help you get in touch with an agent. 

Feel free to visit the Community if you have other concerns. We're just around to help you. Take care!

Did you ever get your money back? They just did this to me also. They closed my account with 288 in it and I've spoken with (no exaggeration) 9 different agents and no one seems to have answers quickbooks blames it on green dot while green dot blames it on quickbooks.... if you got it back, please tell me how you did it.

And if the other commenter sees this yes they do close it without you requesting it and then claim its a "business decision" with no explanation as to why.

Same thing ive had 594 stuck since april 8th 21 still no money its oct 31

Did you ever get your money?  They just did this to us and claimed we violated their AUP.  We are thinking of filing a class action lawsuit as they can’t explain their closure and their own resolution center never allowed us to see the problem.

Hello did you ever find out how to get your money my account has been closed bu Intuit since 2020 I had over 5000 in there they are holding and maybe more I can’t get back into my account to check it . They said they would hold funds for 270 days we’ll it’s been well over 270 days and no one knows wtf where my money went , idk if anyone else has a resource please reach out to me on this also for help . Thank you and good luck . 

I had the same thing happen to me with $560 in august of 2021 and I have never seen the money. my client has proof from their bank they paid. I would love to get this resolved. 

let me know how this goes as they have placed a hold on my business account and WILL NOT release the funds yet. Here we are 20 days later and over 40 hours of phone time logged. NO one is capable of helping. I would like to speak with the founders. 

Well let's put it this way I still don't have my money and you replied before them as they still haven't. I've started so many new cases and no one there is able to give me my funds they tell you to call green dot who can't do anything unless quickbooks removes the hold

Welcome to the QuickBooks Community, xmenno llc. This isn't the kind of feeling that I'd wish you to have while using QuickBooks Payments. I'll be sharing details with the possible reason why the funds might be holding. Then, to ensure you'll be routed to the right support team assist you further on this matter.

Once you have QuickBooks Payments to take and process payments in QuickBooks, we regularly review payments to ensure everything is in a shipshape. This is for the benefit of everyone involved in the payment process. If you see the word "Withheld" in the Method column or the On Hold status, this means that the payments are still being reviewed to prevent any fraudulent activities on your account. 

Usually, you'll get an email at the email address you use to sign in to the Merchant Service Center once the deposit is ever on hold. That said, I suggest making sure that you read the email carefully. It will provide you with specific steps to fix any issues. Our Customer Support will usually ask for more information about the transaction that is currently on hold so we can complete our review. After providing them with all the necessary documents, they’ll usually complete the review within 2 business days and release or finish processing the payment. You can open this article to view further details: Why are my funds on hold?.

You might also want to check out this article to see steps on how you can check when QuickBooks deposits customer payments into your bank account: Find out when QuickBooks Payments deposits customer payments.

If the payment/deposit is still not deposited within the given length of time, I recommend contacting our Merchants Services Support Team. This team is the best resource for such inquiries, as they're able to request account information. They can also verify the status of the payment too and investigate why it wasn't deposited into your account yet.

Please also refer to this article to see how QuickBooks Payments deposits work in QuickBooks Online: Common questions about payments deposits in QuickBooks Online.

Please post a reply below if you have additional questions about your deposit. I'll be more than happy to assist you again. Have a great day and take care always.

You are talking about deposits on the account... we are talking about how quick books puts the entire account on hold and then refuses to release our money to us. In their case 20 days in mine since aug/Sept of 2021. Nice to see quickbooks is consistent though. If you could direct us to a person who can actually return our money that'd be great. Thanks. Have a great day 

That's  a lie. Actually let me train you in Quickbooks real quick. I've attached proof that quickbooks does place accounts on hold and close account without the merchants request. I did not request this. And you are thieves. You also don't return money that belongs to the merchant after you have placed the account on hold. You also have no answers besides "it was a business decision" to explain what happened to accounts.

I am very worried. I have been using Quickbooks with no issues since November 2021. This past week alone I have had 5 of my invoiced returned. I have never had this happen to me before. I called Quickbooks and they told me that my clients either 1. don't have sufficient funds in the bank, 2. they disputed the invoice, or 3. the customer entered the wrong banking account information. The kicker is that Quickbooks charged me $10 per returned item that I then had to ask my customer to pay me for. I contacted my clients and they paid their bills with a different bank account. I received an email today from Quickbooks stating that they closed my banking account where my money goes after my invoices are paid. I was so confused. I called Quickbooks and spoke with someone for close to 20 minutes. She was very unhelpful. She kept putting me on hold and stating that because I had violated the merchant banking agreement (what?!!??!) that they closed my account. I kept trying to get some information on what in the heck she was talking about. If I invoice a customer and they do not have money in the bank, how is that my fault and why is my business/account being shut off and penalized? Customer service was unable to give me an answer. Then the woman put me on hold and then hung up. I have been waiting for a call back and I have still not received on after an hour. I am very worried that my money is going to get stuck with Quickbooks like everyone else's. I feel like now would be a good time to change to a new banking institution for the invoicing part of my business. I am a therapist in private practice and I work hard trying to help people, I don't want to be robbed by Quickbooks. 

Any update as to what caused this? I just had the same thing happen to me, randomly stating it was a "business decision" and now I'm concerned I will not be able to access my funds. 

Same thing happened to me. Not sure what to do and everybody is extremely unhelpful. 

This just happened to us and our account was closed without us requesting it. It has only been open a few weeks as we are a new business. No answers here either. 

I know this need urgent attention, jerrod1 and wshaffer5330

Let's get you to the right support team that currently handles this kind of situation. In this case, I suggest reaching out to our Customer Support Team. One of our agents will be able to pull up your account to check what causes this in your QuickBooks.   

You may call us at a time convenient to you, send a message via chat, or we’ll get in touch with you instead. To ensure we address your concern, our representatives are available from 6:00 AM to 6:00 PM on weekdays and 6:00 AM - 3:00 PM on Saturdays, PST. See our support hours and types for more details about this one.  

You can reach them using this link: Contact Payments Support. 

You can take a look at these articles for common question about deposit and why fund being on hold: 

• Common questions about payments deposits in QuickBooks
•  Why are my funds on hold?

Keep me posted on how the calls go. I want to ensure that this has been taken care of. Don't hesitate to leave a comment below, and I'll get back to you. Take care!

Hi, 

I have called this line multiple times as well as used the virtual chat. The response I received was that this was a "business decision" and there are no additional details they are able to provide. They wouldn't route me to any additional support member to help remediate the issue. I asked the following questions:

1. Is there anything I can do to fix this

2. Is there anybody I can speak with to discuss this further

3. Is there anything I can do at all regarding the situation

The response was a broad "no", nothing can be done about this situation. I'm surprised these business practices are considered remotely acceptable, now anytime I even call for help they can't find my Merchant account number as the account has been closed. I was specifically told by a representative the following:

Rep: "Alright, A bit of bad news. Intuit closed your account as a business decision. These decisions are final unfortunately. Where Intuit is considered a low risk processor, and sole proprietary company. They don't have to provide notifications for closures or give the reason for closing the account as a business decision. I am sorry. As for the funds in the checking account you would need to call the number on the back of the card to see about those funds."

Also the following:

Me:  I'm not following, what does "they are low risk" mean?

Hopefully somebody that is experiencing the same issue on this forum can know they are not alone in dealing with this completely unwarranted and upsetting situation. This sort of vague discussion only manages to further escalate my stress. Not to get too into the personal details but this is not going well for me and it is frustrating beyond belief, It's like a feeling of claustrophobia and lack of control of the situation and the individuals responsible seem to have minimal interest in fixing the issue. 

Had somewhat similar issue with qb online regarding online payments done by a customer & apparently done via bank transfer.  5 days later after the customer took the parts, qb stated that the customer was contesting the charge while simultaneously informing us the customers' bank account was closed.  I erroneously thought that by accepting check payments via qb there was some kind of due diligence on their part.  Apparently they do nothing.   Thus I am out $3200, via a scammer and QB's only response is to charge me $10.00 for each payment and take back the 3200 from my bank account.  Mind you QB advertises that when you use their payment services they provide you convenience and security - not sure what security they provide.

Solution - do not take checks via QB.  No protection thus if you take a check, deposit it yourself & wait 5 -7 days to make sure it clears before moving on with providing the customer service or merchandise.  After all, QB charges a fee for transacting the payment which they do not even refund when payment is refused.  

And you are right, trying to get an answer out of their merchant team is a complete waste of time.  They are of no help.  I have spent over 4 hours and nothing.  There tactic is to continuously put you on hold to see if they can wear you down so you will drop the call.  And if you are disconnected you have to start all over.  This goes for phone calls and also via chat.   Complete waste of time.

Lastly since QB does not provide a check copy back to you (for any bounced check/bank transfers) - you have to file a grand theft report with your local police and hope that they actually pursue.

QB SUCks!!!  very disappointed.

Do not bank with QB Payments/Checking/Merchant services. Did the same thing to me. And now they've deactivated my account. 

Same thing.. they closed down our business account with a payment of $38,000 from a client that we need to order materials for their project. We've been on the phone with NUMEROUS representatives and no one has been helpful. The email claimed it was a business decision with no reason. They told our client to dispute the charge but it's been past 14 days so they can't. We need our funds to service our clients. What's supposed to be helping our business is only making it harder to do business. 

If anyone wants to reply and get more comments going... just tweeted. Unfortunately, businesses seem to pay more attention to stuff that is out there for others to see and hold them accountable for... https://twitter.com/SaturniaBuilde1/status/152372910[removed]