You might look at Freshbooks.  Their ACH fee is 1% according to a post here: https://www.freshbooks.com/blog/ach-payments

Thanks for the response, I know your intention is not to make me feel "that way", and I have no emotional investment in software of any kind. I'm just stating the fact that every aspect of my financial life is done through computers, I pay all bills through the computer and I purchase through online sites all my needs - my business is based on computers and I can't grasp the concept that it's faster to have a client mail me a payment and deposit it than to use your software's features. Nothing personal and im not insulting your software I'm just not impressed and not sold on that side of your services, to be honest, I like the software look and feel I just think it's laughable that your team is unable or unwilling to come into the modern age of online transaction times and realize that real-time computing is what is making and breaking companies now. I just don't want to invest my time and energy dealing with substandard services to have to untangle myself from later. It could be that your platform just isn't suited for my business model and I can accept that. 

What Financial Institution says "we'll give you this based on your History when it comes to the Customer getting their Money?   Imagine you go to a bank and every single person has a different processing time for getting their checks cashed!  And ironically most banks process overnight.

Quickbooks has made a poor decision regarding ACH payments and is using our money to gain interest.    It's has me and many other looking for alternatives and when comes I'm out.

You are absolutely right!

I just started a Painting company and I am on a shoestring budget. Now I have to make payroll to pay my subcontractors so they can provide for their families.

When I signed up for QuickBooks there was no mention of 7-10 business days for bank transfers.

not only that but I didn't sign up for this service I only linked my bank account to track expenses.

after sending a client an invoice I suppose they were given the option for bank transfer unbeknownst to me.

Now I have to wait 8 days to receive the payment.

I was never even asked if I wanted to give my customers the option for bank transfer or informed on 7-10 day time period.

This should be criminal, I will be contacting a lawyer.

How am I supposed to make payroll?

How are my subcontractors supposed to feed their families?

Gas, day to day expenses.?

This is an undue hardship and I think you lot should be held accountable for your deceptive practices.

Hi @lando13,

Please know that I'm on your side with this. I, too, don't want the people I'm working with to get caught with challenges like this, especially if it deals with money matters.

I personally want this taken care of so you'll get options on how to deal with your incoming and outgoing payments. But since we can't directly review your account here in the Community, our best bet is to get in touch with our Payments team. This way, we can also check how you got the bank transfer service.

I know it's already late, but you can contact our Payments team tomorrow. Their support hours are from 6 AM to 6 PM PST (Mondays to Fridays) and from 6 AM to 3 PM PST on Saturdays.

I'll be keeping an eye on this thread, and know that my door is always open if there's anything else I can help you with.

7-10 days is what I’m experiencing and told is normal.  I was surprised by the delay as well, but told it is normal.  As a fellow surprised customer, I’m sorry you’re going through this.  We all deserve better. 

7-10 days for ACH payments seems ridiculously slow to me. How is it PayPal and other payment processors can do it in a matter of minutes but Intuit needs a week? It would be quicker to have my clients mail me a check than to do it through QB, which is what I may start doing. Electronic transfers are supposed to be about convenience but when my clients can pay Net 30 and I have to wait an additional week to actually receive the funds, there is nothing remotely convenient about that. In fact, as far as I can tell, there is zero benefit to using Intuit for receiving payments. None.

The moderators are most likely just repeating what their training manual says to say. But there is no reason it should take 10 days to process an ACH payment when it is a well-established fact that other processors do it in 1-2 days. So the talking point is intentionally misleading at best, patently dishonest at worst.

It does not take 5-7 days for the originating bank to release the funds. That typically happens same day if the transaction is initiated before 3PM. If it is a Friday or holiday, obviously it wont' happen that day but the longest bank holiday is 2 days so worst case scenario, meaning maybe once per year, it could feasibly take 5 days for the originating bank to release the funds. But using a 1-in-365 chance to explain an everyday occurrence is to intentionally be misleading.

It does appear that Intuit is holding the funds for what others have called "day rates" or whatever they are called but it basically means Intuit is gambling with customer money to make profit before releasing it. Most likely the money is being used to underwrite loans. If this is, in fact the case, (A) the moderators here would not be privy to such information, (B) it is unethical as can be for Inuit to do so without disclosing that fact. But ever since banks and financial institutions were deregulated in the 1980s and further deregulated in the 2000s our laws overwhelmingly favor big business. I am a small business and waiting 30-60 days for a client to pay then another for Intuit to transfer my money is unacceptable. And no, I won't call or write the Payment Processing team because it should not be my job to chase down my money. It should be Intuit's policy to give me the service I pay $50/mo. for. I'm already paying $50/mo for a business and personal license. I shouldn't have to pay more on top of that to get paid. The reason for signing up for QBO is to make billing customers easier. If I have to chase down clients AND Intuit to get paid that does the opposite of why I signed up to begin with.

I just see this as, at best a poor policy that punishes small businesses. At worst it is unethical behavior by Intuit that they then instruct their support teams to lie about. I'm not accusing any of the moderators of lying. I believe they believe what they are saying and are saying what they've been instructed to say, evidenced by the fact that they all just keep "reiterating what their colleague said". We get it. You've reiterated about 30 times on this thread that it takes 5-7 days (in my experience it takes 10 days, not 5-7). What you have not done is answer WHY it takes 5-7 days. Nobody is buying the "transaction cut-off date on a holiday weekend and your bank flagged it for review" story.

The moderators are most likely just repeating what their training manual says to say. But there is no reason it should take 10 days to process an ACH payment when it is a well-established fact that other processors do it in 1-2 days. So the talking point is intentionally misleading at best, patently dishonest at worst.

It does not take 5-7 days for the originating bank to release the funds. That typically happens same day if the transaction is initiated before 3PM. If it is a Friday or holiday, obviously it wont' happen that day but the longest bank holiday is 2 days so worst case scenario, meaning maybe once per year, it could feasibly take 5 days for the originating bank to release the funds. But using a 1-in-365 chance to explain an everyday occurrence is to intentionally be misleading.

It does appear that Intuit is holding the funds for what others have called "day rates" or whatever they are called but it basically means Intuit is gambling with customer money to make profit before releasing it. Most likely the money is being used to underwrite loans. If this is, in fact the case, (A) the moderators here would not be privy to such information, (B) it is unethical as can be for Inuit to do so without disclosing that fact. But ever since banks and financial institutions were deregulated in the 1980s and further deregulated in the 2000s our laws overwhelmingly favor big business. I am a small business and waiting 30-60 days for a client to pay then another for Intuit to transfer my money is unacceptable. And no, I won't call or write the Payment Processing team because it should not be my job to chase down my money. It should be Intuit's policy to give me the service I pay $50/mo. for. I'm already paying $50/mo for a business and person license. I shouldn't have to pay more on top of that to get paid. I will use the time I would spend writing the Payment Processing team to find a better service.

I just see this as, at worst a poor policy that punishes small businesses. At worst it is unethical behavior by Intuit that they then instruct their support teams to lie about. I'm not accusing any of the moderators of lying. I believe they believe what they are saying and are saying what they've been instructed to say, evidenced by the fact that they all just keep "reiterating what their colleague said". We get it. You've reiterated about 30 times on this thread that it takes 5-7 days. What you have not done is answer WHY it takes 5-7 days. Nobody is buying the "transaction cut-off date on a holiday weekend and your bank flagged it for review" story.

But hey, I earned a bunch of useless badges to make me feel like I'm part of the "community". What Intuit isn't paying attention to is that the only community here is folks complaining that it is hurting their businesses to have to wait an additional 10 days on top of often 30-60 day terms to get their money. If I give a client Net-60 terms, and Intuit takes another 10 days to deposit my money, it is taking me nearly an entire quarter to get paid. No small business can operate that way. But sure, they are happy to generously offer to allow me to pay 1% of my business revenue to get it the next day. So on top of the $600/year I already pay Intuit, they will charge me another $1,000 per $100k in revenue. Nope. Not going to happen.

How do you even get the next day deposit for ach with the 1% fee because I’ve looked everywhere, can’t find it. This 10 day “processing” is the biggest joke. Why are you not following the NACHA rules and allowing same day ach transfers? There is absolutely no reason it should take 7-10 days 

“Virtually all types of ACH payments, including both credits and debits, are eligible for same-day processing. Only international transactions (IATs) and high-value transactions above $25,000 are not eligible. Eligible transactions account for approximately 99 percent of current ACH Network volume.

All RDFIs are required to receive same-day ACH payments, thereby giving ODFIs and Originators the certainty of being able to send same-day ACH payments to accounts at all RDFIs.” Quoted from NACHA we site. 

This is true!!

I agree with everything I've read so far.  When I've called about this they tell me it's 5 working days and I can't forget the weekend doesn't count. Duh, funny thing is desktop payments were only taking 4 days.  I'm in finance for heaven's  sake.  I wonder how many investors in intuit understand that the reported cash on hand is really other people's money being floated for a ridiculous period.  Do they realize I can take a check from a client and clear funds faster?  I am so unhappy with all of this. It's very frustrating!

Everyone is missing the point-- they make money by keeping YOUR money for any amount of time. once a transaction is processed the money is transferred electronically within hours, now they have YOUR  money to earn interest on for 2, 3, 7 or 10 days now figure 400 million dollars of our money constantly in their account. thats big bucks to earn free interest on not to mention a 2.5 or 3 % transaction fee on top of that!  

As a new subscriber to QB and an experienced small business owner (15 years) including POS SQUARE and PAYPAL...I find QB's policy of "the long wait" appalling. I currently have a $10,000 payment sitting in review...for 72 hours and counting...I echo the words of others who need to pay staff, pay rent, and run their business, feed their family.  #NotHappy #NotCool #NotYourMoney #CountingTheDays #AccountingSoftwareNeedsToBeAcctountable

I don't think that point has been lost on anyone since most people commenting have mentioned that very issue. We are not unaware that it is happening, we are claiming it is unethical for Intuit to do so without being transparent about it. They also blatantly lie about it when the support staff - who are only saying what they are told to say - says "It takes 5-7 days for your bank to release the funds". 

Thanks for all you've done quick books but Ive decided to move on after reviewing other accounting software. Seems there are many viable options with better services at lower prices. I gave quick books a shot but it just isn't for me, I move to fast and do not like haveing to wonder where a payment is at and when I do look it up theres no information on its status other than " its on its way!", I need actual answers. I will not return as a customer because of 1 fact, you have the money for marketing teams to know what I need before I know I need it and guessing where my money is at is not something I need and I know you know that. You took the gamble anyways and lost a customer.

This was my first and last payment via QB - From now on I am going back to PayPal, and heck, even a check is faster than this! Disgusting business practice. Maybe we should look into a class lawsuit.

Hi @laura14,

While we're sad to see you go, know that we respect your decision. I, too, want the fastest and the most convenient payment solution for my personal and business needs.

Rest assured I'll look into this issue further both in this thread and here on my end. Then, I'll send feedback to the concerned team so we can come up with a more robust action plan that will deliver more benefits to our customers.

Please feel free to tag me (using the @ function) if in case you need any help. I'm just a comment away and always ready to lend a hand.

It’s been over 10 business days and still no deposit via ACH. Client (Friend) confirmed and showed me payment withdrawn from her account Oct 4, Quick oils sent an email stating payment was made Oct 8, and it’s Oct 15 with no ACH transfer yet into our business account. The statement above paid invoices using ACH ‘Deposits  typically appear in your bank account within a few days’ is 

Thank you for providing the details, carrrrrlos.

The ACH payment usually takes 2-5 business days to be posted on your account. Since it has been more than 10 days, I recommend reaching out to our Payments Support. They will be able to check your account and trace the deposit.

Make sure to select the support for QuickBooks Online Payments & Merchant Service Center.

Stay in touch with me if you have other questions about the lead times.

I accepted this online payment thinking it would be faster than having a check mailed. I would have already received a check in the mail! Ridiculous.  I will be turning online payments off and invoicing through PayPal instead, where payment is immediate. It should not take this long. 

This thread states that that this topic has been “solved” but obviously it has not and I’m not the only one waiting a ridiculous amount of time for a payment to be deposited.