Wendy, to continue on this thread . . we pay for a service, that service price keeps going up, no other financial institution I deal with (I am QB Pro, have multiple clients on & off QBooks) takes as long for deposits as you all do & with this electronic age, we all know faster is possible, now you want us to pay to get it in that reasonable amount of time.  On top of that, you charge us for direct deposits to employees and contractors/subcontractors & want to charge us for online bill pay, which any of us can get thru the bank for free (why do they give it to us for free, because they have our business!).  QuickBooks should learn a lesson from this.  The online product is inferior & fraught with bugs and lacking features Desktop had, the price keeps going up, your billing issues/errors to Pro's like me for my clients is a disaster (took me weeks & numerous calls to resolve a "ghost account" I was being billed for in error, now waiting for replies for 1-2 weeks on more billing issues) . . . you all need to value your clients & stop nickel & diming us for services.  Take a lesson from Wells Fargo, nothing lasts forever if you don't take care of your clients.  We used to be able to buy QB Desktop for about $300 and have any number of companies & use the software for years, now end clients pay $60+ a month typically, so $780 a year with no added services and they have to pay that every year.  You are not winning points and many of us will start looking for less costly solutions whom every add on is not additional cost.

Swaran is 100% correct.  QuickBooks takes 5 business days (7 days total) to deposit any ACH transaction for my Company.   They're using the funds for interest but not revealing that to customers.  And when asked why in 2019 all customers can't choose to have 24 hr. funding for a fee they say "it's being rolled out to preferred customers at our discretion".   

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@soldano21 wrote:

Swaran is 100% correct.  QuickBooks takes 5 business days (7 days total) to deposit any ACH transaction for my Company.   They're using the funds for interest but not revealing that to customers.  And when asked why in 2019 all customers can't choose to have 24 hr. funding for a fee they say "it's being rolled out to preferred customers at our discretion".   

 

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The fee is 1% for 1 day settlement.  So if you get your money tomorrow instead of in a week, you are getting financing for 1 week at 1% and so are paying an effective 52% interest rate per year! Not worth it; rather use a credit card at "only" about 20%. Given it's capped at $1000, it gets lower as the amount increases. It may be worth it if the payment is say $10k when the effective annual interest rate is a more reasonable 5%

This is insane. 

I called Quickbooks Online support and they told me that "it was probably my bank flagging it as a security/fraud issue".  Guess what?  Bank says there's no issue. Quickbooks support says I have to talk to Merchant Services.

Its 2019 and this is supposed to be "the" service to manage things, and you can't even make an ACH process faster than 7 days without charging more, not to mention not even letting me know that it was an option, or even offering it to me while I'm on the phone?  I'm currently on hold with merchant "services" for almost 2 hours now, listening to the same annoying on hold loop endlessly only getting more fed up with Quickbooks.  I've never had an ACH payment in 20 years take longer than a couple of days.  This is ludicrous.  Good luck keeping customers, the world moves fast...you guys are just too freakin slow (and dishonest).   Oh and bonus points for making a curse word out of my post.  Wow you guys are too much. 

Thank you for taking the time to contact us here in the Intuit Community, @no-way.

I'm also a small business owner and it's frustrating when your expectations aren't met. I may haven't personally experienced what you've gone through, but know that you have the right to be heard and I'm here listening to you.

I'll take note of your post, the highlights of your experience, and your concern about receiving payments through the merchant service. No worries. I'll pass this along here on my end and let you know in this thread once I get updates.

Please know that we don't intend to make you feel this way.  You can always count on me in if you need anything or you have something for me to share on your behalf. Take care always.

Yikes!

+1 This is not a technical problem for a development team to solve.  It's a business decision:  does Intuit want to nickel and dime people who are paying customers of QuickBooks.

1% is an insane price to charge their customers for an ACH.  Way out of line with what a bank charges.

Wanna lose customers?  This is how you lose customers Intuit.

I think what the customer service person who replied meant to say is, "I'm sorry the person you spoke to lied.  That's inexcusable.  I will ensure they understand why the process has been designed to take so long."  

Thanks for joining us in this thread, SimplyDan.

Allow me to step in for a moment and provide further details about the funding time deposit of QuickBooks Payments.

Funds usually reach your deposit account 5-7 business days, however, it varies depending on the following factors:

• Time of the day you enter transactions.
• Weekends and bank holidays.
• Financial institution you choose your transactions to be deposited to.
• How long it takes for your bank to verify and process electronics.

The cut off time for deposits is 3 pm PT and payments processed after that go into the next day's deposit. Therefore, transactions that were processed via Payments are being batched on a daily basis and funded on a particular number of days.

For more in-depth information, you can also check out these articles:

• Find out when QuickBooks Payments deposits your money

• QuickBooks Payments Deposits FAQs

On the other hand, fees are drafted when you sign up with Payments. These include providing you with a credit card processing service, set up and monthly service fees, discount rates, per authorizations fees, and others.

You can check out this article that will help you get a better idea about the fees: Understand credit card processing fees.

This should point you in the right direction. Let me know if you have any follow-up questions. I'll be here to answer them.

Earlier posts and responses from customer support described 2-7 days.  Thanks for updating it to a realistic 5-7 days to set expectations that it will not happen in timeframe most people would otherwise expect.  I look forward to a time that you can support ACH in a timeline that is in keeping with industry norms at a fee that is also in keeping with industry norms.  FWIW, this experience with my first ACH (6 days and counting) and seeing the communication with your customers related to your policy of holding the funds has led to me start looking for a replacement for a product I’ve used for many years. 

There's some good info there, but you still haven't answered the question of why it takes 5 to 7 days in the first place. Every other institution processes ACH transfers in 1 to 2 days depending on when the transfer was initiated. Why does it take QuickBooks 5 to 7? Furthermore, QuickBooks now allows you to pay a fee to get the transfer faster. This proves it's possible even for QuickBooks. It also tells me that QuickBooks is determined to make money off my ACH transfers either by holding my money and collecting interest or by charging me a fee.

Jane I appreciate you responding but your sharing nothing new.   Here's the 2016 National Electronic Payments Association response to the longggggg ACH payment times:

https://www.nacha.org/rules/same-day-ach-moving-payments-faster-phase-1

My Clien'ts ACH payment is processed, Authorized and Batched the "same day" he pays it.  It's removed from his checking account overnight.  So his funds are out of his account the night of his payment BUT the funds aren't deposited in my account until 5 business days (7 calendar days) later.

Not good......

Hello there, scowlingfrog.

I appreciate you taking the time reaching out to us. Allow me to bring clarifications to your concern.

Bank transfer (ACH) payments normally takes 5-7 days to reach your deposit account. As what my colleague @JaneD mentioned, the process time varies depending on your Financial Institution's policies and how they handle the payments and the following factors stated above.

On the other note, QuickBooks Payments offers a next-day deposit process. Since this process is considered to be an add on service of QuickBooks and it needs to be expedite, a fee is added.

You'll want to read this article to learn more about your invoice payment deposit schedule: Next-Day Deposits for QuickBooks Payments.

I'll be around here in the Community, so please don't hesitate to reach out to me if you have other questions concerning QuickBooks Payments.

As others have already indicated, you go to great lengths to explain a bunch of meaningless technical stuff yet avoid stating the obvious - that there is absolutely no reason it needs to take 5-7 days. You intentionally fail to address the point that the industry standard is 1-2 days. You intentionally refuse to acknowledge that Intuit is sitting on the funds for their own financial benefit. If that’s your policy and how you choose to treat your customers - at least have the integrity to acknowledge it. Quit making lame excuses and trying to blame “the system”. We see the system work everywhere else. Not stating the truth is no different than lying. I have lost all respect for your company and will begin advising clients to go elsewhere. 

We have multiple "priority circle" accounts and are very frustrated by this. 

Thanks for joining us in this thread, tpmeredith.

Allow me to step in and make sure you're able to get the assistance you need with customers' payments. 

As mentioned by my peer, Charies_M, payments normally takes 5-7 days to reach your deposit account. If you've been waiting longer than that, I recommend reaching out our Payments Support Team. 

Here's how to get in contact with them:

1. Sign in to your QuickBooks Online (QBO) account.
2. Go to Help.
3. Click on Contact us.
4. Enter your concern and click on Continue.
5. Choose either Start messaging or Get a callback.
6. Follow the onscreen instructions.

This should point you in the right direction. Please let me know if you have other concerns. I'm always here to help. 

I left (cheaper startup type company from India) last year to try QuickBooks for a year thinking it was an "upgrade". But when (cheaper startup type company) ACH payments only take 1-2 business days to have funds in my account, I may consider going back (I don't need much right now, but what I need is to get paid).

Hope you fix this soon. For now I will be going back to just accepting checks. Typically 1-3 days in the mail and then instantly available when I remote deposit it. Meaning: USPS SnailMail(tm) is faster than QuickBooks ONLINE. How sad is that?

You have until December 31st, 2019 to fix this or I will be jumping ship.

P.S. I am here because I searched for "Why does it take so long to receive my payment?"

Thanks for joining this thread, tjtyrrell.

Allow me to step in and help provide some on how long customer payments are deposited into your bank account. 

My colleagues provided you the exact information. The approximate wait time for credit card payments to be transferred to your bank would take 5-7 banking days, while ACH deposits may take 7-10 business days. 

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 electric deposit. 

However, if you haven't received the funds on the allotted time, I'd recommend getting in touch with our QuickBooks Payments Support so they can help check the status of your deposits.

For additional reference, you can check this article to find out when QuickBooks Payments deposits your money. 

Please know that you're always welcome to post if you have any other questions about the Merchant Services. The Community team will always here to help. 

I fully understand you guys stating it takes 7-10 days. However like everyone else has stated, there is zero reason it should take 10 working days to transfer payments, especially from a verified customer whom has performed ACH transactions already, other than you guys are using the money to make interest for several days.

We have payments from customers in the realm of $10,000-20,000 or more that are held up for up to 10 days for zero reason. We were told over a month ago that this new faster ACH option would be available, I reached out to my 'premier circle' rep yesterday and was told "it was in beta but the beta has already closed enrollment", which is very frustrating considering I asked over a month ago and was not told of a beta at all. Cumulatively we probably pay QB over $1,000 a month in our handful of companies. Not happy. 

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@tjtyrrell wrote:

 

 

You have until December 31st, 2019 to fix this or I will be jumping ship.

 

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LOL

As others have stated... "Sure... that's your time to funding policy"

What we are stating as a community is: "That's a terrible policy and may likely cost you customers... Especially when alternative solutions do not take 5-7 business days but rather 1-2 business days."

So... While it is your policy. If that policy does not change by the end of the year, I will be moving to an alternative solution.

Thank you

Hi, I have decided to try QuickBooks 3-month trial to see if its any good but I have to say im not happy with ach deposit times so far and as I read more about it Im not so sure I want to deal with the unknown wait times and regurgitated "our policy" and "Its everyone's else's systems" responses.  My question is this - can anyone recommend a better software from experience and not hearsay? To be honest, my 1 man tech business operated fine before I signed up and before I link auto bill pay and account payments I want to make sure there's some established repetition, it won't work if my money going out is same day and my money in is some unknown variable that has no rhyme or reason. I'd rather pay for another service for the guarantee of timely processing than pay for a "deal with it" policy stance.