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I would also like to join the lawsuit
Our company is in this predicament as well and it seemed to be random with no evidentiary support of malfeasance, fraud or any other reason to hold the funds over 30 days. We too have over 10K in holding and are ready to sue for conversion. We have sent all the documentation requested by Quickbooks through it's payment solutions center and they are not releasing the funds. We're giving them 24 hours to get it sorted. Would love to know if anyone else is still waiting after having followed all the "requested steps" of document support and explanation of transactions?
I realize this is a "scripted response" but let me tell you why it's wrong and why i hope someone sues you for conversion. You are holding funds way over an "acceptable or reasonable" amount of time why you conduct so- called investigations for fraud. Any reasonable person would conduct their investigation and freeze funds only when it is more likely than not that a company is committing some sort of crime.
After explaining our funds in excessive 12K had been held now for over 30 days and we needed the money asap, and QB said there was nothing they could do to push this to the front of the line. QB said turnaround is average 2-3 weeks.
You have frozen funds without an investigation. Once the requested evidence was supplied, you will NOW begin your review/ investigation which can take another month. Now we're at approx. 60 days of retaining property that is not yours. So yes, I believe a suit is necessary so QB can learn to either instill a better turn-around time with it's "process" and or force it to review its policies and procedures when they directly cause irreversible harm and damage to businesses.
Hi , i totally feel ya because I am going through this at the moment. From august 23rd they are playing around with me . 4 times they have escalated my deposit on hold to someone at the back end who is so busy that he hasn’t reviewed my concern . They are holding on to my money and making money on interest . No one at their customer service has clue that when it will be released, they all play 2-3 business days script and then nothing happens . I am going to get in touch with attorney journal soon if they don’t release it . I have to make payments to suppliers , I’m behind my bills now . I can’t fulfill my personal and business needs at the moment . I had no idea that I will be going through this . I would never recommend anyone to QuickBooks ever . They just waste time with putting you on hold and coming back with ticket escalation. They are literally on my nerves at the moment and my health condition is so severe that if anything happens to me they will be responsible.
QB has also closed my account and the only excuse I have been given is that this is a "Business Decision" in their part. My funds are being held and I have to wait 3-4 days to hear back from an agent. This is by far the most ridiculous thing I have ever heard. QB can hold MY money?
There has to be a way to report these people.
David Adame
Helifox Technologies
09/06/2023
So there only allowed to hold money for 180 days I do believe I’ve been through this before with a different company.. and that’s only if they can provide evidence that they should do so.. now I’m going to bbb and reporting them and I would like to a class action lawsuit against them
Has this been resolved? We have close to $9 held as well.
@Helifox2023 It has NOT been resolved. Intuit/ QB is STILL taking money from it's customers and holding it for days, weeks, and even months on end.
I have a client who currently has over $35,000 being withheld by QuickBooks for no apparent reason. I've spent over three hours on support chat as well as on the phone with a clearly incompetent 'support' person.
I don't find this legal in any way shape or form. They want a letter from the bank stating the bank account isn't frozen. Even though payroll and all other ACH's are going out of the account just fine. I provided documentation from the bank. Proving the account is active.
It is not like a payroll payment bounced or anything of that variety. There is literally absolutely ZERO reason for Quickbooks to be withholding deposits from my client.
As far as I'm concerned, Quickbooks needs to face criminal charges as well as return the funds to people PLUS interest. This is beyond ridiculous.
Is it too late to join your lawsuit or is there an option to file class action?
It feels like legal action is needed just seeing how many small businesses are truly suffering because of this exact issue that Quickbooks is *clearly* aware is causing irreparable harm to their clients in many cases. It's unconscionable.
Here it is over a year after your OP and we're dealing with the same issue. We have deposits on hold from over three weeks ago and never received any notice that this was an issue even though when you try to look into it the alert on your account tells you to check your email.
Please update us on your legal proceedings.
We are going through the exact same issue. We can't get ahold of anyone with direct knowledge of why this is being held or when it will be released. We work in the online industry and were told by one person that Intuit will no longer process payments for anyone who engages in Lead Generation. Roughly 40% of their business base that use them for payment processing, do lead generation at some level. They give us a different excuse every time we try and talk to them.
We even had one agent tell us that they had been there for more than 10 years and doesn't recognize the company anymore and that they had been threatened with termination if they continued to escalate clients who were trying to get resolution to their funds being held.
This is borderline criminal activity! We are actively moving to a different accounting platform and cannot get away from this company fast enough.
What type of company threatens to fire someone for providing customer service by escalating an issue that they don't have the authority to answer?
They have multiple complaints about this on the BBB website where their average rating is 1.09 stars out of 5!
HORRIBLE COMPANY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I can't remember ever being treated this badly by an organization!
Quickbooks has done the same to me as well as others as I am reading in other comments. At this point we should all collectively file a class action lawsuit. They are holding our money and making interest off of it. This is criminal.
How I can join ?
hi there - this is happening to me and I can’t pay payroll and other automatic payments are bouncing and I’m getting charged fees. This is such a nightmare and costing me money. What is the update on the class action? I’d like to join!
How can I join this lawsuit?? This is happening to me and it’s a nightmare and costing me so much money and ruining my business.
Well they try to take your rights away by putting in the contract that you've not do a class action lawsuit but it has been proven over and over again that you cannot write your rights away like that so you just need to start up a lawsuit a real law so you don't let them say that you can only have a small claims court because that's what they wrote in the contract you don't have to listen to that you cannot sign your rights away I'm still trying to find enough people that want to do it
More more people that join the easier it is to actually do this that is my actual phone number up there and if you text me your name in the mouth amount that they have taken from you I will write it down in my book and we will start it
I am trying to see if this will go through and not get blocked. My user name is my first and last name together. Teona is my first name. My email is my first name at my full name with PR at the end and then dot com. I hope this doesn't get blocked. Someone try to email me and we can hopefully get in touch with others to get this going.
Hi there - I am going through the SAME issue and it's really taking a toll on my small business. I replied to someone else on the thread but curious if you've gotten anywhere with a lawsuit as I am VERY interested in pursuing legal action against them. This can not be legal.
There is someone in the resolution department changing my information.
There’s been a huge language barrier since most of the time we’re connected to someone overseas and it is extremely frustrating.
I’m going to speak with my Attourney tomorrow because not even the representatives from the states can figure out what’s going on.
As of today they’re holding almost $8,000 of customer payments made within the last two weeks.
I’m over it.
I’m over it.
Signup for a 3rd party merchant service immediately to integrate with QBO.
I am on the phone with them again... They turned off my account.
They are still invoicing me though...
4 months and counting.
Helifox
We are experiencing something similar, deposits on hold even after our account has been settled. Can’t speak to anyone who can release the deposits. Small businesses need timely access to money they earn. I am very suspicious of Intuit for withholding money.
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