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DARB21
Level 2

Suddenly Closed Account…

Please chime in if this has happened to you or you found a solution! I’ve been with QB Merchant for almost 10 years and they suddenly closed my account. They also closed my QB Checking account with no warning and cannot give me a direct answer as to where the 50K of deposits are. Very discouraging and would love to know if there is enough negligence for a class action lawsuit. 

11 Comments 11
JuliaMikkaelaQ
QuickBooks Team

Suddenly Closed Account…

I recognize the urgency to know the reason why your account is being closed and where your deposits are being held, @DARB21. It's not the kind of service we want you to experience. Allow me to provide some details about this.

 

A Merchant account will not be closed or deactivated unless the account holder or user requests it. Thus, we’ll need to determine the reason why the account is no longer active. To do so, we will have to collect some personal information to verify and check your account. I suggest that you get in touch with our Payments Support Team to review the security of your account. You can follow the steps below to reach them:

 

  1. Go to Help (?), then select the Search tab.
  2. Click Contact Us.
  3. Select the topic to connect with the right expert or choose Ask about something else and provide a brief discussion of your concern.
  4. Click Continue.
  5. Choose a way to connect with us:
  • Start a chat with a support expert.
  • Get a callback from the next available expert.

 

Moreover, holds are triggered when any of the following occurs:

 

  • Your payment processing exceeds the maximum dollar amount expected on your account.
  • A transaction is processed after multiple unsuccessful authorization attempts.
  • Certain transactions require verification of your business type to ensure compliance with the Intuit Acceptable Use Policy.
  • If our systems detect processing patterns that pose a risk to any of the parties involved (be it you, your customer, or Intuit), you will be notified.

 

Once your account is on hold, an email will be sent to inform you about the necessary information or documents required to release the payment. You can check your inbox for any instructions related to it. It will provide you with detailed steps to resolve any issues.

 

Furthermore, let me share this article about payment deposits: Common questions about payment deposits in QuickBooks Online.

 

Feel free to ask any follow-up questions or reach out to us again for any other inquiries. We are always available and more than willing to offer our assistance.

DARB21
Level 2

Suddenly Closed Account…

Thank you for the response. However, you’ve given inaccurate information:

 

1. I obviously never requested my merchant account to be closed; but it still happened. 

2. Obviously the first thing I did do is call. An agent informed me that a risk team will randomly decide to close a merchant account. 

3. The monies in question are not on hold. They’ve just disappeared. I was on the phone for hours yesterday and not a single agent could give a direct answer as to where the funds were. 

4. Attached is the only email I’ve received regarding a portion of the funds that are gone. 

 

 

JuliaMikkaelaQ
QuickBooks Team

Suddenly Closed Account…

Hello there, @DARB21. I appreciate you sharing more clarifying details and a screenshot of your concern.

 

I completely understand how frustrating this can be, especially when funds and deposits are involved.

 

Since the Community space is a public forum, we can't access your account and check where your deposits are due to account security concerns. To address this matter effectively, I suggest reaching our Payments Support again. I know you have already contacted them, but they have the capabilities to securely check and investigate where your funds go after they close your account.

 

Additionally, if your deposits weren't posted on your bank account, this might be rejected by the bank or due to the closing of your account. With this, you might consider checking your spam or junk folder for any QuickBooks email consisting of a rejection code notice. 

 

Moreover, you can check this article to know the funding time for your deposits: Find out when QuickBooks Payments deposits customer payments.

 

Please keep us updated on your progress or if you have any further questions with your Merchant account. Our team is willing to help. 

DARB21
Level 2

Suddenly Closed Account…

Have made zero progress on this issue. QuickBooks and Green Dot have no idea where my money went and have zero motivation to help. Best I’ve received is a phone number and extension but no one EVER answers or calls back.[removed by moderator]. I’ve decided to give it a few more days I’ll have no choice but to get my attorney involved. QuickBooks cannot get away with taking much needed funds from a small, family owned business without consequences! 

Just_me
Level 10

Suddenly Closed Account…

@DARB21   The reason you're making no progress, nor getting answers, is because QB does this to a LOT of their customers.  There is no rhyme or reason.  And what they are trying not to tell you is that they can and will have your money for MONTHS on end, because they are collecting interest for having your money.   After they legally have to return it, they will.  THAT could take up to 270 days.  After which, They will release it, but not to you. You will have to collect your money from your state.  

 

You can search the community to find TONS of others in your same boat. You can also find the threads talking about class action lawsuits.  

 

Good luck. 

DARB21
Level 2

Suddenly Closed Account…

UPDATE! Quickbooks has made it very clear this is not their issue and has pushed me off to Green Dot Bank. As of today, I still do not have the withheld funds back. Green Dot is IMPOSSIBLE to deal with. If you can even get someone on the phone (nearly impossible to wait hours on hold), they are rude, hang up, or repeat themselves in a different language until you finally give up and hang up. They have requested forms and paperwork from Wells Fargo and myself that don't exist (just another hoop). The Better Business Bureau has been able to mediate for us, but Green Dot is still going in circles. A complaint was made with the Attorney General. Our next, and only step left, is to file a lawsuit holding QB and Green Dot liable for the loss of funds.   

will_footprint
Level 1

Suddenly Closed Account…

Hi, please keep updating this thread. I am dealing with a similar situation: the checking account was randomly closed without my consent and the funds have not been released. 

DARB21
Level 2

Suddenly Closed Account…

3/18/2024 UPDATE!!! I sent the attached email on Friday, March 15th, 2024. Within 3 hours my money was back in my account and issue was resolved. Good luck to anyone fighting this battle! I still hope one day Quickbooks and Green Dot faces a lawsuit for their actions. 

Green Dot emails used to send the documents they requested over and over:

[email address removed]

[email address removed]
[email address removed]

Q-BSucks2
Active Member

Suddenly Closed Account…

How did you contact quickbooks? The phone and chat support are useless I had my payments account closed and have a payment on hold that I just want to refund to the customer at this point 

Q-BSucks2
Active Member

Suddenly Closed Account…

Where did you contact quickbooks payments? The chat and phone support is horrible. I had my payments account closed and have a payment on hold that I just want refunded to the customer at this point

Kurt_M
QuickBooks Team

Suddenly Closed Account…

Hi there.

 

It isn't the experience we want you to have when using QuickBooks Payment (QB Payments). We want to ensure this gets sorted as soon as possible to get information about your closed payment account and the instructions to address the payment on hold to start processing the refund. We recommend checking this page where all the details to contact our Payments Team are present: Contact Payments Support.

 

Moreover, here are some articles to know more about funds on hold and how you can resolve it: Why are my funds on hold?

 

Don't hesitate to visit us again here in the Community space if you require further assistance accessing your account and managing funds on hold inside QuickBooks. Stay safe.

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