Question

Increasing direct deposit limit

Forum|Forum|5 years ago
May 6, 2021
3 replies
60 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

KbeenAuthor

Some further questions...

- If the "concern" is to lessen the risk and avoid fraud, why are these being requested to be submitted by unsecure email (besides upload)? There is a reason banks do not email you a copy of your statements for this particular reason.

- Once received by your team, who is reviewing these statements and how do you you ensure the reviewer is competent?

- What is the process if increase is denied based on historical rather than forward looking data of a growing business? In other words, for QB to control how we run our business, do you have a better understanding of our business based on past data and no understanding why the increase is required for future payments?

MaryLandT

Level 10

I'm here to provide additional insights about your DD limit increase request, ketilbeen.

Your request is handled by our Data Risk Management Team. The email is secured and is authorized by Intuit.

You can send them using these emails once you open the request on the page. See the attached screenshot below for your visual guide.

Sending your documents through those emails is the only way of accepting requirements. You can use your personal email address or the one associated with QuickBooks.

Once received by the management team for review, they'll send you an email with instructions for the next step. The same goes for if the request is denied.

You can visit again this link for additional information: Get help if you’re over a direct deposit limit

Let me know if you have follow-up questions about this by commenting below. I'll be here to provide additional information.

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

4

4Gal

Level 5

@IFSSALES

we are canceling ALL of our subscriptions and moving on to another company like ADP, Oracle etc.

Don't bother threatening them. You just need to convert your data to QB Desktop file and use the trial version to access your historical data for good. Then you may start from scratch in a new program to lower your conversion costs.

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