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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

I client made a payment over a week ago and it is still not deposited to my bank account. 

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Best answer 12-27-2018

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Level 2

How long does it take for an invoice payment to be deposited into my bank account?

Generally, credit card payment deposits take 1-2 business days. Bank transfer (ACH) payment deposits can take 2-7 business days.

 

Your deposit cutoff time is 3 pm PT. Payments processed after 3 pm PT go into the next deposit. 

 

Learn more about QuickBooks Payments deposits 

View solution in original post

15 Comments
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Moderator

How long does it take for an invoice payment to be deposited into my bank account?

Hello, aqueenstouchevents.

Thank you for reaching out to us. I'm here to help you show up the payment transaction in QuickBooks Online (QBO). 

Funds usually reach your deposit bank account within 2-3 business days of the transaction. It varies depending on the time of day you enter transactions, which financial institution you choose for transactions to be deposited in, and how long it takes your bank to verify and process electronic deposits.

If you have a Merchant account with us, we can try logging in to your account to see the activity time frame. Here's how:

  1. Sign in to https://merchantcenter.intuit.com.
  2. From the top menu, click Activity & Reports.
  3. Click Transactions.
  4. From the drop-down menu, choose your search criteria: Specific date / Range of dates, etc.

However, if you have online banking with QBO, we can manually update your account to catch any transactions from your bank. You can do that by going to Banking and clicking the Update button in the upper right.

This is to validate the account in order to allow transactions to continue to download in QBO. Otherwise, I'd recommend contacting your financial institution to verify the posting of your transactions.

Feel free to reach out to me if you have additional questions, I'll be right here to help. Have a great day

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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

I am using QBO and it's been 7 days since it was paid from the client and I know it's the correct account because I can see and approve expenses.
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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

This is happening to me, too. Can you provide an update? Did you eventually see that transaction paid or did you have to do something else? thank you!
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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

For the first payment through QBO Payments, it took a full 7 days before the funds were actually credited in my account (QBO and bank). Every 2-3 days I received an update from QBO (invoice paid, funds on their way, funds deposited). As long as you are seeing progress towards the final payment, it may just be a taking longer than expected, especially if it is a larger $ amount. Somewhere I read that the more payments you do, the faster they are processed through QBO Payments.

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Level 2

How long does it take for an invoice payment to be deposited into my bank account?

Generally, credit card payment deposits take 1-2 business days. Bank transfer (ACH) payment deposits can take 2-7 business days.

 

Your deposit cutoff time is 3 pm PT. Payments processed after 3 pm PT go into the next deposit. 

 

Learn more about QuickBooks Payments deposits 

Highlighted
Level 2

How long does it take for an invoice payment to be deposited into my bank account?

Generally, credit card payment deposits take 1-2 business days. Bank transfer (ACH) payment deposits can take 2-7 business days.

 

Your deposit cutoff time is 3 pm PT. Payments processed after 3 pm PT go into the next deposit. 

 

Learn more about QuickBooks Payments deposits 

View solution in original post

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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

Is it true that deposits are slow until I process a high volume? Quickbooks rep - you say it takes 2-7 days depending on the bank. My payment with quickbooks took 7 days. My other invoice payment, through another service took 2 days with the option of 1 day for a fee. Same bank. So, I'm pretty sure it's not dependent on the bank. It seems to be quickbooks' way of holding onto the money longer. Is that true?

Highlighted
QuickBooks Team

How long does it take for an invoice payment to be deposited into my bank account?

Hi there, 1MasterSystem.

 

Thanks for bringing this up to our attention. I know how you want your funds to be available sooner.  

 

If this is your first time taking customer payments with QuickBooks, the first deposit usually takes a little longer to establish the merchant account. It may take 5 business days to receive your first deposit after you take your first successful payment. Then, all deposits after that should process on your regular deposit schedule.

 

We also have the Next-day ACH deposits which are subject to eligibility criteria. For more information, you can check out and read through our article: QuickBooks Payments Deposits FAQ. It helps you learn about how payment deposits work in QuickBooks Online.

 

Feel free to message us again if you have additional questions. We're always happy to help. 

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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

Stating that "the first deposit usually takes a little longer to establish the merchant account" is not entirely accurate. A new policy was put into place this year which, basically, states that QB can decide to hold funds of new users. This was confirmed by the several customer services agents with whom I spoke, including the merchant services department.

 

From the Intuit Payments Merchant Agreement, sec. 18. Unusual Activity; Holds; Risk Reviews.:

"We may, in our sole discretion, place holds on your transactions or Merchant Account to otherwise protect against potential risk or fraud. Reasons for holds are proprietary to Intuit and may be based on multiple factors, including, but not limited to: (i) no or limited payments processing history with Intuit;......"

 

So new users can expect their first undefined number of deposits to be "reviewed", which adds several days to the deposit time, and there's no system in place to resolve this issue. You just have to wait.

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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

Why does quickbooks and PayPal have all these negative issues? why would they hold back on your funds   When it’s your business not theirs. I’d they dint trust you as a vendor with an account then why wouldn’t they trust you to not  fraud someone??? They should screen you first before giving you an account in the first place. Well

ive found the solution to small business accounting apps. Hurdlr makes the nest I’ve seen fit the money. You can upload your own payroll and they track your mileage and expenses etc etc stay away from expensive places like this that are in control of your own money you earned honestly. Get rid of these crooks 

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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

7 days. That is rediculous

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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

My customer made a payment on Feb 15th 2020, It deposited 3 weeks later on March 9th.  So I call BS to the 7 day time frame on bank transfers.  This happens all the time, then when you have multiple payments that dump at the same time you have to calculate till you guess and get it correct.  Payments aren't made together, deposits shouldn't be made together.  For an accounting firm this is a royal F-up.  

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Moderator

How long does it take for an invoice payment to be deposited into my bank account?

Hi @fwfmIN,

 

Thanks for letting us know about your customer payment.  That time frame is not typical.  If you processed on 2/15, which was over the weekend, 5 business days would put you at 2/21.  In your merchant service center, was there anything indicating a delay?  

 

The only other reason for a serious delay like that would be an issue with payment; you would have received an email from the Operations team if there had been one.  Did you see receive anything along those lines?

 

As far as the deposits themselves go, all transactions for the day batch out at 3pm Pacific time, which means all transactions are deposited as a lump sum.  Unfortunately, there isn't a way for each individual transaction to be deposited separately.

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Level 1

How long does it take for an invoice payment to be deposited into my bank account?

It’s been 4 days and I still haven’t received my credit card deposit

Highlighted
Moderator

How long does it take for an invoice payment to be deposited into my bank account?

Hi @Fpoole,

 

Thanks for reaching out about your deposit.  As others have posted in this thread, if your merchant account is a new one, there may be a delay while an internal review is done.  If the transaction is large, it may be reviewed by the operations team; in that case, they will have reached out to you by phone or email.

 

In either case, if you haven't received a communication about your funds you can reach out to the Payments team directly so they can review the account:

 

Contact Payments Support

 

An agent will be more than happy to take a look at your account and see what is going on with your deposit.

 

Thanks,

Lucas

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