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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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Community Explorer **

Re: 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 

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9 Comments
Moderator

Hello, aqueenstouchevents. Thank you for reaching out to...

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

Not applicable

I am using QBO and it's been 7 days since it was paid fro...

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.
Not applicable

This is happening to me, too. Can you provide an update?...

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!
Community Contributor *

Re: 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.

Community Explorer **

Re: 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 

Community Explorer **

Re: 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

Not applicable

Re: 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?

QuickBooks Team

Re: 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. 

Experienced Member

Re: 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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