Switch to next-day deposits for ACH payments

Hi there, @stephhill!

Let help you get connected to the best help available.

Here in the Community, we don't have the option to change the deposit schedule of your invoice payments.

With this, I recommend contacting our Merchant Services Team. They have the tools needed to pull up and look up into your account. And change your deposit schedule successfully.

I've attached an article you can read to learn more about contacting our Merchant Service Team: QuickBooks Merchant Services or QuickBooks Online Support - Who Should I Contact for Help?

Lastly, you may want to read this article to learn more about your invoice payment deposit schedule: Next-Day Deposits for QuickBooks Payments.

Let me know how it works by leaving a comment below. It'll be my pleasure to help you here in the Community if you have any other questions.

Hello and thank you for your response. Actually in my current plan, deposits take 2-7 business days (which ALWAYS means 5-7 business days, never 2), so I'm trying to switch to the plan where it takes 1-2 days for a fee. I can't find anywhere how to do this. I did log in to the merchant center and played around in my accounts and settings in QBO and couldn't find it either place. Can you link me to actual directions? Or send me a phone number I can call to get some help? I can't find a phone number anywhere either....

I got it figured out. I called QB Payments support and they were able to get me to the right link. Thanks for your time!

It's good to see you here again with us, stephhill,

Let me connect you to the right team to ensure that you'd able to switch to the next day deposits for ACH payment. 

To contact our dedicated team which is our Merchant Services Support team, you can check out this article to get their phone number: https://community.intuit.com/browse/payments-contact-us.

If there's anything else you need help with concerning QuickBooks Payments, please feel free to reach back out. Have a great day!

@stephhill would you please share the link?  I called and got a total runaround.  It's really frustrating that the QB team doesn't make this easy - hanging on to our customer payments for a week is ridiculous. 

Hi awasserb,

I was told one/some of their emails went out with broken links. The support person had me log in to QBO and in the upper right I had a little red notification on the bell symbol. That notification had a link to do the upgrade. I'm actually not certain if it had been there all along or if the support person sent it to me after I called. If you don't have a notification waiting for you, this is the number I called that eventually led to someone who could help me:[removed]. And I agree....waiting 7 business days plus the weekend is an absurdly long time to wait for deposits to be made. Good luck!

Thanks for joining this conversation, @awasserb.

I appreciate you reaching out to our Merchant Support team. Allow me to chime in for a moment and share some additional information about the next-day deposits for QuickBooks Payments.

We're now gradually rolling out this option to all existing QuickBooks Online (QBO) merchants. You'll receive a notification on both your email and in QuickBooks by the time your account is eligible.

Just in case, you can also check out this article for more information: Next-day deposits for QuickBooks Payments.

That should answer your concern for today. Please know that I'm only a few clicks away if you have any follow-up questions or concerns. Have a great rest of the day!

So, there is obviously a system in place to process bank transfers and deposit money in our accounts the next day. Why then do you continue to hold on to our money for 7 days, unless we pay you an additional 1%? Why does even it take 7 days to begin with? Shouldn't it just come to our accounts the following day already? It leaves the client's bank account, so where does it go for all of the time?

Hello, @GregR.

I'd be glad to help share information about the QuickBooks Payments settlement and funding.

Intuit automatically batches and submits credit card payments each day at 3:00 PM Pacific Standard Time (PST), 6:00 PM Eastern Standard Time (EST).

The funds settle to your deposit bank account within 1-5 business days of the transaction. The waiting period, known as the time to funding, varies depending on the time of day you enter transactions, which financial institution you choose for your transactions to be deposited in, and how long it takes your bank to verify and process electronic deposits. 

In addition, QuickBooks bank transfer (ACH) payment deposits can take 2-7 business days. Some banks may take longer to verify and process deposits. At settlement on day 2, your bank may notify you that Intuit has sent funds to your account. This doesn't mean that your bank actually cleared the funds. When funds are in this state, the Merchant Service Center shows the deposit status Pending. When Intuit gets word from your bank that the deposited funds have cleared, status changes to Funded. If you're wondering about the status of your funds, you may search for deposits in the Merchant Service Center.

Yes, there is a next-day deposits for QuickBooks Payments which you can get your credit card and bank transfer payments deposited the next business day. However, you'll be charged with a fee of 1% or a maximum of $10 per transaction. As mentioned by my colleague FritzF, we're now gradually rolling out this option to all existing QuickBooks Online (QBO) merchants. You’ll receive an email, and a message in QuickBooks, when your account is eligible.

To learn more and how to get the next-day deposits, you may get in touch with our QuickBooks Merchant Team.

Also, for additional information about how batches, settlements, and funding times, you may check this article: Find out when QuickBooks Payments deposits your money.

You can always reach out to me directly by adding a post/comment below, I'm always here to help you. Wishing you continued success!

I find it interesting that the information provided about why the process takes so long is because the banks. Which I have found to NOT be true. The parroted information about batching every night I am finding to be inaccurate. I had a payment come through April 11, QB did not batch it until...get this TOMORROW, yes tomorrow. It will not be batched until tomorrow!!!! >:( I am beyond frustrated with QB and their hold on money. BUT if we want to pay extra we can get it within a day or two. I feel like them holding money hostage is unacceptable!

Is there a way to Reverse this action?

I want to Turn-off the Next Day ACH Payments, after spending 90 minutes in an Online Chat that got me no where I cannot seem to find this answer.  I've paid $60 so far this month to collect invoices, on top of the Quickbook Fees it all adds up and is simply not worth it. 

Hi there, @remogul320.

I'm here to help guide you to the right support who can help you further with turning off your next day ACH Payments.

I'd love to do it here on my end for you, however, I don't have the chance to do it here on the Community page for the security of your account. As of now, it would be best to get back with our Support Team to check your account securely. Once connected, one of our support representatives will be able to help guide you with the detailed process and be able to pull up the previous case you have. For the support's contact information, you may check it here: Contact the QuickBooks Online Customer Support team.

To learn more about next-day deposit, you may check this article: Next-day deposits for QuickBooks Payments. On the other hand, you can also check this article for more information about QuickBooks Payments deposits: Find out when QuickBooks Payments deposits your money.

Please don't hesitate to add a comment below if you have any other questions about QuickBooks Payments deposits, I'm just a post away to help you. Have a good one!

Any luck on reversing the next day ACH payment? I am trying to do the same. I do not want to pay the 1%.

Hi Titan Ledgers,

Disabling the next-day deposits feature isn't available in QuickBooks. You'll want to contact our Merchant Support Team. They can assist you further in turning this off.

Here's how you can reach them:

1. Go to Contact Payments Support.
2. Get the number under "QuickBooks Online Payments & Merchant Service Center."

I've also added our page about payments if you need some help articles for your future tasks.

Know that we're always here if you have other questions.

Then use another processor. They will charge you an absorbent monthly fee as well as any additional surcharges...plus hold your funds. Good luck with that!

Intuit and QB do hold onto our (customer's) money much longer than necessary. It is quite suspicious and I'm pretty sure they're making good use of the funds in the interim. Smooth moves QB but not cool to your customers. We should be charging you 1% for using our funds for the week.

We should be charging you 1% for using our funds for the week. Intuit and QB do hold onto our (customer's) money much longer than necessary. It is quite suspicious and I'm pretty sure they're making good use of the funds in the interim. Smooth moves QB but not cool to your customers. 

I think you mean exorbitant but, you're right.

---

@michael149 wrote:

"... absorbent monthly fee ..."

There's nothing suspicious about it; it is probably illegal. 

I recently had a situation whereby a CSR from Quickbooks admitted to me on a recorded line that Quickbooks holds payments of greater value longer than those of lesser value.  100% illegal.

My attorney is filing a complaint with the FDIC and the FTC for banking fraud and fair trade restraint on my behalf.

Say, a lot of QuickBooks for Desktop, Pro, Premier and Enterprise companies are using Same-Day ACH processing for both Debits & Credits.  The Same-Day ACH processing on business days M-F.  

Hi, is there any word on if this will be rolled out for the Quickbooks self-employed users?? I process payments no differently than a Quickbooks Simple start user .... But not given the opportunity to have next day deposit. I would have no problem with the 1% fee to make it happen . 

Thank you for your interest in the next-day funding, Nomad_ops.

The next-day funding is for the payments processed via ACH, which is currently not available in QuickBooks Self-Employed. I'm taking note of your suggestion to be considered in future updates.

On the other hand, you can check out our blogs to see the latest changes in our products or services.

If you have other questions about receiving payments, feel free to reach back out.

So then could I move the the QB simple start version and next day ACH deposit would then be available to me ?