Quickbooks has been holding to my money that my clients paid for over 12 business days when they initially said 2 business days. Their customer service does not help.

Richy-houstonitd: If Quickbooks is holding your funds unnecessarily and have admitted they are aware of this matter – this sounds like a legal issue and you should seek some legal advice.

The same thing is happening to us. From a legal standpoint they have no right to hold the deposits of legitimately paid funds from your customers. Unless there is a suspicion of wire or ACH fraud they are bound by law to release the funds immediately after the suspicion is cleared which may happen within a couple of days.

I have called their customer service and asked what is the legal basis for holding deposits based on the fact that they are only a payment processor and have not received a straightforward response.

We will retain legal counsel and send a cease and desist letter to Intuit/Quickbooks. This may turn into a class action lawsuit if the same thing is happening to several Intuit/Quickbooks customers.  

I can see how holding deposits may give a great impact on your business. Let me provide some information about this, 247chb.

There are times payments take longer than the usual processing time. This usually happens while we are still in the process of setting up everything. You'll want to sign into to your Merchant Services account to double-check the status of your customer payments. 

You'll also get an email at the email address you used to sign in to the Merchant Service Center. The email contains specific steps to fix any deposit issues. Check out this article for more information: Why Are My Funds On Hold?

To give you more information on when to expect funds in your account and its processing time, I've got this handy article for your guide: Understanding Payment Holds In QuickBooks Online.

Fill me in and keep in touch if you have any questions about deposits or payments. I'll be right here to further assist you.

Payments from January all the way until now are being held illegally by Intuit/QuickBooks without a valid reason. We have checked with all our customer's and the funds were withdrawn from their accounts meaning it is not an issue of whether the source of the funds is in question. Intuit/QuickBooks has the funds and they are not depositing it to our account. The credibility and reputability of Intuit/QuickBooks is dubious at best when they are engaging in this type of practice. Again there is NO LEGAL BASIS to withhold funds paid by customers longer than it takes to verify the transfer is authorized by the sending entity.