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vpaulson
Level 1

Why am I getting Intuit Payment Solutions Transfer Fees?

The condo association has been using the ACH method for collecting membership dues for years. Now, all of a sudden, we are being charged for this service. Accepting credit card payments was turned off because the service fee was difficult to collect, making ACH the best, most cost effective method. What is gong on?
2 Comments 2
JessT
Moderator

Why am I getting Intuit Payment Solutions Transfer Fees?

Hi vpaulson,

 

Welcome and thank you for posting your question about the fee for ACH payments. I'll share information about it.

 

On February 8, we sent notifications to our QBO Payments clients that we would be moving to Next Day ACH Funding. This means that money that is normally received within 5 days can be transferred to your account the next day. This comes with a cost of 1% and is capped at $ 10.

 

I understand that this impacts the way you collect payments since there is now a charge on your side. All I can do is share your feedback with the relevant department to make them aware of your situation. However, I wouldn't guarantee any changes for now since this was just implemented.

 

On the other hand, I would suggest informing your members about this change so you can make an arrangement on how to collect money for the fee. You may want to add the fee to their next invoice.

 

You can check the article about the funding time for your additional reference.

 

Please don't hesitate to go back to this thread if you have other questions about the change. I'll be more than happy to help you again.

Fiat Lux - ASIA
Level 15

Why am I getting Intuit Payment Solutions Transfer Fees?

@vpaulson 

It is their new policy. You have to use another payment processor to accept ACH for free.

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