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Jennings Group
Level 1

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

The fee increases this past year from Intuit were excessive. Especially now with the country virus issue. What can Intuit do for us?
11 Comments 11
LucasMicromatis
Moderator

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

Hi @Jennings Group,

 

Thanks for writing in.  We understand that COVID-19 has put a strain on our customers during this difficult time.  To discuss a potential waiver of fees, please reach out to the support team.  Here are the contact options for the Payments team:

 

Contact Payments

 

They will be happy to review your account and see what can be done for you.

 

Thanks,

Lucas

Cescarbr
Level 2

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

I agree that a 200% increase is outrageous at any time, but especially with the situation our small business is now in with the country shut down.  Intuit should step up and help small businesses and do their part.  A 200% increase is just being greedy, plain and simple!!  The ACH fee used to be .50, then went to $1, but now $3 per transaction.  Why not just take have of our profits.

Cescarbr
Level 2

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

I agree that a 200% increase is outrageous at any time, but especially with the situation our small business is now in with the country shut down.  Intuit should step up and help small businesses and do their part.  A 200% increase is just being greedy, plain and simple!!  The ACH fee used to be .50, then went to $1, but now $3 per transaction. 

Candice C
QuickBooks Team

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

Hey there, @Cescarbr. 

 

This isn't the impression I want to live you with. I take matters like this seriously. On a personal note, I can see how the increase in ACH fees can affect your business profits. However, we are committed to developing easy to use financial tools that help you today and grow with you tomorrow. If you want to learn more about the increase in fees, you can contact our Payments Support Team or go to our Payments for QuickBooks Desktop page. 

 

I value you and the success of your business. If there's anything else I can do for you today, just let me know. 

Sparksfl
Level 1

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

LOL! They value their customers so much they are raising the fees and then sending you to a BOT to complain about it. What a joke. 

JustinRSD
Level 3

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

Hi Candice (and all) - I truly appreciate the empathy of the response.  At the end of the day, the reality is it's a business decision by Intuit to continue pushing these fees up.  Someone made a calculation somewhere that customers would get used to paying more and would accept it.  That doesn't mean it's a "nice" thing to do ... just that whatever damage it causes is judged to be acceptable.

 

The reality is that increasing ACH fees from $0.50 per transaction to $10 per transaction (as the email we just received describes) is a 20x increase in costs.  You can argue that money is being deposited the next day (instead of 2 days), so there's lending costs for Intuit to front the money.  But, that 1% cost in order to get money 1 day sooner is the same as a 365% annual interest rate loan.  Is that really what you're expecting business owners to want?

 

What you're doing is, essentially, saying: "We'll force all our customers to pay a PayDay lender" -- not exactly on brand for what you're trying to achieve.

 

Many other sites and banks charge fixed ACH processing fees *because* it costs them essentially the same to process a $10 charge as it costs to process a $1000 charge.  That's why Chase (and even your integration with Melio!) charge $0.25 or $0 per transaction.  Next day deposits isn't enough value added to justify the profit you're taking.

 

We're all in business with the expectation of profit.  Can you explain why Intuit deserves a 20X increase in ACH income at the expense of your customers?  I don't think you'll be able to, but I'm all ears. 

 

 

manattweb
Level 1

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

I wholeheartedly agree. This news about the 1% fees for ACH deposits has started me searching for alternatives to Intuit. I don't use half of the features and now I'm getting gouged in a time where every dollar counts.

 

It would be nice if there was a way to keep the 2-3 day option alive for those of us that don't need next day service.

Fiat Lux - ASIA
Level 15

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

@manattweb @JustinRSD 

Explore Melio as the backup option

https:// melio.grsm.io/quickbooks

 

Cescarbr
Level 2

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

And if the continued increase in ACH fees is not enough, Quickbooks will cut off all Internet functionality of their desktop product after 3 years if you don't upgrade to their latest version.  For the 3rd or 4th time I'm being forced to upgrade my desktop 2018 version to the latest if I want to continue receiving payments from customers, reconcile bank statements online, and any other online Internet functions.  I too will be looking for a different solution other than Quickbooks.  My company is too small to continue to be forced into unnecessary financial pressure from Quickbooks.

tiffany-olp
Level 2

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.

I am so disgusted with constantly being notified of increases and additional charges. I am especially dismayed that this is happening in today's atmosphere. I have waited up to a week for my funds to hit my account for more than 5 years. Now out of the blue, we have no choice? I've been an unhappy customer for quite some time, but switching providers for something like this is worse than changing banks. I feel like Intuit knows they have us by the balls and they just keep squeezing.

I would love to know of any alternates to QBO. Not just a payment processor that will require additional work.

Fiat Lux - ASIA
Level 15

Got email from Intuit CEO, had sent the following which was returned:Increasing the bank ACH fees from $1to $3 is hard to justify.The fees increased for the QB program.


@tiffany-olp wrote:

I would love to know of any alternates to QBO. Not just a payment processor that will require additional work.


 

@tiffany-olp 

There are many options in the market including the free one. Contact us in private should you interest to explore them.

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