Why qb still holding money

I know the importance of timely payments and understand any inconvenience this payment hold issue may have caused you, ks89. 

Payment holds in QuickBooks Payments can occur for various reasons, including:

• Risk Assessment to help protect both you and your customers from potential fraudulent activities.
• May place a temporary hold to investigate further to prevent potential fraudulent transactions.
• Require additional verification or documentation to ensure compliance with regulatory requirements or to confirm the transaction's legitimacy.

I recommend contacting QuickBooks Payments support for further assistance in resolving the payment hold and transferring the funds as soon as possible. They will be able to provide you with specific information regarding the delay and guide you through the necessary steps to resolve the issue. Ensure to check out the availability of our support to ensure your case is addressed:

M-F 6 AM to 6 PM PT

• Chat with us
• You can also contact support via chat using the Merchant Service Center.

In addition, I recommend reviewing these articles to understand why your payments are on hold:

• Why are my funds on hold?
• Find out when QuickBooks Payments deposits customer payments.

I'll keep this thread open if you have other questions regarding customer payments or relevant QBO issues. I am always available to help. 

QuickBooks may hold your money for a variety of reasons, including:

• Suspected fraudulent activity: QuickBooks may hold your money if it suspects that your account has been hacked or that you are engaging in fraudulent activity. This could be based on factors such as a sudden increase in sales, a large number of international transactions, or a high rate of chargebacks.
• New account: QuickBooks may hold your money if you are a new customer or if you have recently made a large deposit. This is a security measure to protect QuickBooks from fraud.
• Risk assessment: QuickBooks may hold your money if it assesses that your business is at a high risk for fraud. This could be based on factors such as the type of business you operate, your industry, or your location.

If QuickBooks is holding your money, you can try to resolve the issue by contacting customer support. They will be able to review your account and determine why your money is being held. Once they have determined the reason, they will be able to tell you what steps you need to take to release your funds.

If you have provided QuickBooks with all of the information they have requested and your money is still being held after three weeks, you may want to consider contacting your bank. They may be able to help you resolve the issue with QuickBooks or they may be able to offer you a temporary loan until your funds are released.

They are asking for phone logs (in 2023), confidential contracts, and where I advertise!

Support has no idea why my funds are on hold, all I can do is raise a complaint.

This is enough to bankrupt me. I’m so upset.

Hello there,

Businesses need funds to operate so I certainly understand how the delay affects you. I'm here to direct you to our representatives for further investigation.

The information required is necessary for the payment review. It's to protect the interests of all parties involved in the process. Take note that the communication is via email.

Since you raised a complaint, I recommend contacting our Support again. They have the tools to pull up your account securely and conduct a thorough examination of the payments. Rest assured that they'll do everything to resolve and release the funds quickly.

To proceed, follow the steps below:

1. Go to the Help icon and choose Search.
2. Click the Contact Us button and enter your concern.
3. Press Continue.

 You can open this article for our operating hours to contact us promptly: Contact Payments.

See this guide to learn the reasons behind funds withheld: Why are my funds on hold?

As a reference in knowing the deposit speed, open this link: Process payments with the QuickBooks Card Reader.

Our Team will help you narrow down the possible reasons why the payments are on hold. If there's anything else you need, let me know. I'll be here to assist you.

@Is_this_a_scam   Sadly, there are a LARGE number of customers in this same situation.  (you can use the Search bar at the top of any page here in the community to find them. Some even talk about filing a class action lawsuit).  

Many of these people fought for weeks, if not MONTHS on end to get their money released, only to have to collect it from their own state, after the legal limit that QB can hold money.  (You see, Intuit/ QB collects interest off of YOUR money. That's why they hold it like they do).  

It's criminal and fraudulent, if you ask me.  

File complaints everywhere you can think of.  BBB, FTC, your State Attorney General, Consumer Financial Protection Bureau...

This needs to stop!!  And the more of us that file these complaints, the more likely it is to stop. 

Good luck.  

Quickbooks Merchant services just put a hold on $47K that clients paid using credit cards.   They told me they suspected fraud, I asked them to  just reverse the charges if they suspected fraud and release the clients money back to them.  They refused to do this and told me the only way for the clients to get their money back was to file a fraud charge with their credit card company - which really will add a blight to my companies ability to obtain another merchant account - when the charges were not fraud - all invoices were paid by three clients separately. 

This response tells me they aren't really interested in the protecting anyone against fraud, they are just stealing money.   If they will not reverse the charge, they want to operate on the funds they hold. 

QB Customer service actually told me they can hold the money indefinitely and I should have read the terms and conditions when I signed up for Quickbooks Payments because it is in the fine print. 

I have spent 7 hours on the phone with customer service over the past 24 hours.   They don't have the ability to offer a solution, they parrot talking points that they have been given.  One customer service representative told me their job is not to solve problems but to document problems.  

I sent a complaint to the President at this link -

https://www.intuit.com/company/contact/office-of-the-president/?cid=internal_intuit_click_us_oop-for... .

If Quickbooks does not take this down no that I've put is out here,  I encourage everyone on here that Quickbooks reckless policies have come close to putting you out of business to use this link and flood them with complaints.

Every other small business accounting software out there should be using this to dissuade new customer from selecting Quickbooks over alternatives. 

We need to spread the word about the danger of using Quickbooks as your small business accounting software.   And I for 1 intend to do just that. 

I will not go quietly into the night.......

@AMZ1   Legally, they can only hold your money for 270 days. But that's still FAR too long to be holding ANYONES money.   After that 270 days, they are to release the funds.  However, they will release it to your state.  You then have to turn around and collect it from your state.  

I encourage you to file complaints anywhere and everywhere that you can think of. (BBB, FTC, your State Attorney General, Consumer Financial Protection agency)  These agencies need to know what is going on, and can't help, if they aren't made aware of it all.  

There are also a couple of threads here, that talk about class action lawsuits.  You can use the search bar to find those threads, if you are interested. 

Good luck.  

I have already filed complaints with the MA/Attorney General, and looking at how to file complaints with the FTC and US Attorney General. The fact that so many consumers are impacted by these archaic procedures when Intuit is not a financial institution, they are a middle man for payment processing. That's it. We have been with QB for over two years and this has happened to us countless times. I have spend HOURS on the phone with these people and the office of the President for Intuit. I 100% do not recommend Quickbooks for any small businesses, they have predatory practices and have no clue what is going on at any level. Good luck. Pickens Legal Solutions on Facebook or [email address removed] if anyone wants to reach out and add their names to my growing list.

The same thing happened to me. It's been over a week, and I have not gotten money that QuickBooks is "holding" for me. You should be ashamed of yourselves keeping customers' money like this. It's an absolute disgrace. It doesn't take a week (and certainly not 3 weeks) to determine if it's a fraudulent transaction, and it definitely doesn't help protect the customer. I know the client that submitted the payment, and it is not fraudulent. QuickBooks didn't even alert me to the fact that the money was being held, I had to figure it out when I saw that it wasn't deposited into our bank account.