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troyconstruction
Level 1

Merchant services keeps delaying giving me my money. Any tips?

 
5 Comments 5
WittS1
Level 1

Merchant services keeps delaying giving me my money. Any tips?

If you don't settle within 24 hours, you're subject to higher interchange fees – typically in the range of 0.25% – 0.50%.

CharleneMaeF
QuickBooks Team

Merchant services keeps delaying giving me my money. Any tips?

I'd be glad to give insights about your delayed deposit, troyconstruction.
 

When starting to process or receive payment for the first time, it usually takes five business days to deposit your funds since we're still setting up your merchant account. Once done, your payments would be faster. It would be 1-2 business days for credit card payments and 2-7 days for ACH payments. 

 

There are also other factors that can cause delays, I've listed them below:

 

  • Time of day you enter transactions.
  • Weekends and federal holidays.
  • The financial institution where transactions are deposited.
  • How long it takes for your bank to verify and process electronic deposits?

 

For more details, please see this article about delayed payments, please see this article: 

 

 

If this is not your first deposit, you can also contact our Merchant Services Support to determine the cause of the delay.

 

Additionally, I've added an article that'll help learn how long it takes to get customer payments in your bank account after you process them: Deposit Speed.

 

Please keep us posted if you need additional assistance managing your sales transactions. We're always here to help you out. 

troyconstruction
Level 1

Merchant services keeps delaying giving me my money. Any tips?

They told me that for first 3 or 4. Now this is like my 7ths transaction. At a certain point, it's just not right.

Logan05
Level 2

Merchant services keeps delaying giving me my money. Any tips?

I seem to have beat pretty much anyone on the amount of time Intuit withheld payments from my customers. We went 6 WEEKS without receiving our payments. After a week of waiting, I called to ask why our funds are being withheld. I was told Intuit would look into the problem and the funds should be released in a day or so. Did not happen. I started calling everyday asking for our funds to be released. Everyday I was told the problem had been raised to the next level and should be resolved soon. I started asking to speak to a manager. A few times I was told that there was no way to connect me to a manager directly, but one would call me withing 24 hours. Guess what call I never received? After 5 WEEKS of call 5 days a week, I was finally able to contact a manager. I told her about all the problems I have been having. By this time, Intuit was holding over $98K of our money. The manager said she would look into and call me back in a couple of days. It has 8 months now and I still have not been called back. We were starting to have problems paying our bills. Which we would not be having if Intuit would just release our $98K. We still do not know why the funds were held in the first place. We now make a point of NOT receiving payments through Intuit. 

 

Funny thing, I was later contacted by a group doing a survey about what I think of Quickbooks. So I told the people conducting the survey all the problems we have been having with Quickbooks. Made them uncomfortable. 

Just_me
Level 11

Merchant services keeps delaying giving me my money. Any tips?

@Logan05   I feel that more people need to be uncomfortable with QB, especially as a company.  Maybe then QB would lose money and stop stealing.  

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