Question

Increasing direct deposit limit

Forum|Forum|5 years ago
May 6, 2021
3 replies
52 views

Why do you ask for 6 bank statements in order to increase the direct deposit limit?

QuickBooks Online

K

Klent

Level 8

Hi there, ketilbeen.

I'm here to share additional information about the direct deposit security limit.

One of the major requirements when requesting a direct deposit limit increase is the bank statements of the previous six months. It's a monthly or quarterly document that lists all of your banking activity.

Before approving requests, we review the bank statements to verify the income of the business. It will help us determine if an account is capable of handling large amounts of direct deposit. This way, we can lessen the risk and avoid fraud.

After submitting the requirements, the application is reviewed within 2 business days. Then, the primary contact will receive an email notification regarding the result. To learn more about this topic, you can visit this link: Get help if you’re over a direct deposit limit.

I've also included an article that will help you resolve common direct deposit errors and mistakes in QuickBooks: Fix direct deposit issues.

Do you have any other questions in mind? Feel free to leave them below. I'm always here to back you up.

K

KK7777

Hello,

It appears we having the same issue as the person above. We have submitted a DD increase request and was denied due to not being able to provide 6 months of bank statements from our current account. We recently had to close our old account due to fraud activity and needed to update to the new account, therefore, we wouldn't have six months of statements. I did provide five months of statements from the previous account we've been using for months and then included the new account statement for the current month. Still denied. Now we cannot process payroll or vendors payments, our DD limit was set to zero and multiple holds placed on our account. I have been on the phone with reps since 9am and it is not 15:44 with no resolution or any insight on how to fix this. Error codes we are receiving are 30107 and 2107. All the CSReps we have spoken seem to be clueless what any of this means and how to fix it. The kicker to all of this, last week using the NEW account, I was able to process employees payroll with no issue. Now a week later not able to process at all. We did have the account verified.

K

KbeenAuthor

Dear KK7777,

We are the above poster that you make reference to. The end to our story is that we gave up dealing with QB payroll for the reasons you outlined. We paid some employees through payroll (within the constraints) and some through ACH transactions to get around it.

A pain having to do this, but we decided it was better than to provide company financials to a group that appear to be inept at best. We have had our share of filing issues as well and have since outsourced our payroll through a PEO and will be moving to MS Dynamics 365 Business Central by the end of the year. We found it to be quite expensive moving from QB desktop to QB online, taking into consideration the internal costs of time spent with QB to try and get things right.

We wish you the best of luck.

Kindest regards

K

Kevin_C

Moderator

I hear your sentiments, @minervasusana.

I appreciate you sharing your concern in this thread. Let me share some insight about the direct deposit limitations in QuickBooks Online (QBO).

The security limits help protect you from fraudulent activities by limiting the amount you can send via direct deposit.

That said, you'll want to submit an online request to increase your direct deposit security limit. Additional documentation, such as bank statements, may be required. After submitting the requirements, the application is reviewed within 2 business days. For more information about this process, please visit this article: Get help if you’re over a direct deposit limit.

On the other hand, the option to print contractor receipts is unavailable in QBO. I suggest sending your feedback to our Product Development Team so they can review it and might consider implementing it in the future. Here's how:

Go to the Gear icon.
Select Feedback.
Enter your comments or product suggestions.
Then select Next to submit.

Additionally, here's an article that contains tips on how to resolve common direct deposit issues: Fix direct deposit issues.

Keep me posted on how it goes in the comments below. If you have other payroll concerns or inquiries about the direct deposit in QuickBooks, I'm just around to help. Keep safe.

I

IFSSALES

We need our direct deposit limit increased to $100k starting 01/11 or we are canceling ALL of our subscriptions and moving on to another company like ADP, Oracle etc.

We are tired of dealing with the run arounds and the lack of support!!!

Check your email!!!

Thanks,

IFS SALES

JenoP

QuickBooks Team

I completely understand the urgency in needing to increase your Direct Deposit limit, IFS SALES. Being able to reliably pay employees on time is extremely important for any business. I would feel the same sense of urgency if I were in your shoes.

Please be aware that Direct Deposit limit increase requests are usually reviewed within 2 business days, and you will receive a notification email with the outcome. If additional documents are required for approval, we will also communicate this to you.

Please note that this Community forum is public, which means we are unable to access your specific account details or check the status of your limit increase submission.

I would recommend reaching out to our payroll support team. They can verify your account and check the status of your request.

Here's how to reach out to them:

Log in to your QBO account.
Go to the Help menu in the upper-right-hand corner to open the QB Assistant window.
Type in talk to a human and press Enter.
Select QuickBooks Online Support, then click Contact Us.
Provide a short description of your concern. Then, click Continue.
You'll see several options on how you want to get in touch with our support team.
Select Callback if you want to save your spot in the queue. Choose Appointment to have someone call you in the next available schedule. On the other hand, click Chat if you want to start a conversation with one of our chat support agents.

For additional resources when paying employees using Direct Deposit, allow me to share these articles as well:

The Community is always available to assist you with any other questions you have, IFS SALES. We want to make sure you have all the information needed to successfully handle Direct Deposit payroll.

Sign up

Login with SSO

Let's get you signed in

Login with SSO