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Join nowI set up QuickBooks Online last month and recurved the $5 test payment successfully. When my first customer made a large payment QB held the payment and now it has been almost a month with no explanation. Customer service cannot help. I have spent hours on the phone with them. No one has contacted me. That are just holding the money. How can I get this resolved and get the payment or have it refunded to my customer?
Sadly, this is the game that QB plays. They will "hold" your money so that they can collect as much interest off it as possible. When they are done, they will release it. The worst part is that they will "hold it for weeks, if not MONTHS on end... up to 270 days, I believe. They won't even return it to YOUR customer.
There is talk of a class action lawsuit because of this practice.
You can find information about that on Facebook.
https://www.facebook.com/groups/1324101394966851/discussion/preview
Good luck.
(Oh, someone from QB will be along shortly to pretend they are concerned about this, and will tell you to try contacting "Support" again, plus that you "received an email", when you probably didn't)
I appreciate you for raising your concern here, @ACSVA.
Let me share info on why funds and customer deposits were put on hold.
Deposit speed depends on the product you're using and the type of payment. Normally, the deposits are processed every day except for Sundays, Thanksgiving Day, and Christmas Day.
On top of that, I see that you're new to QuickBooks Online (QBO) and Payments. If you're utilizing ACH payments, it will take a bit longer during your first month. You'll get your payments within five days for the first 1 to 4 weeks while we set everything up. Once everything is set up,
an email will be sent to you.
You can read this article for more info: Find out when QuickBooks Payments deposits customer payments.
Also, payments hold can occur for various reasons, including:
Check out this article to learn more about this: Why are my funds on hold?
Most of the time, a refund is performed when the customer has an overpayment. You can read more in this article: Void or refund customer payments in QuickBooks Online.
Furthermore, I recommend contacting Merchant Services again to follow up on why your customer's deposit is still on hold.
To learn more about commonly asked questions about payment deposits, you can read this article: Common questions about payments deposits in QuickBooks Online.
If you have additional questions about managing your funds and customer payments, leave a reply below. I'll be willing to help. Keep safe always.
Thank you for your response Bryan but it's been over a month and I've contacted Merchant Services several times. They cannot solve any issues. They just recommend things for me to try myself. It's now been over a month. It does not take this long to process a payment in 2024. If QuickBooks thinks the payment may be fraudulent then they should void and return the money. You can't just keep the money for a month without contacting me and telling me why.
Hey! Did you ever have QB resolve this issue? I’m currently dealing with the same issue!
I recognize the urgency and importance of releasing the funds, @SCN92. Let me provide some insights into this matter.
QuickBooks holds recent payments to review them. If you're a new user, it would take five (5) to seven (7) business days for the funds to deposit into your account after your first payment, since we're still setting up your merchant account. The next time you process your payments, they will be deposited within two (2) business days for credit card payments and two (2) to seven (7 ) days for ACH.
You can also these steps to check the status of your customer's payments:
Please know that while the payment transaction is on hold, you'll receive an email with steps to fix any issues
For more detailed information, you can check this article: Learn about funds on hold in QuickBooks Payments.
Furthermore, if you didn't receive an email. I recommend contacting our Merchant Services support team to pull up your account. They have the necessary tools to review this case and allow them to perform real-time assistance.
Here's how you can reach them out:
In addition, you can refer to this article to learn how to manage and avoid payment holds: Managing and Avoiding Payment Holds.
Comment on the post if you still have concerns about payments on hold. I'm always here to help.
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