Yes and No...there are levels of Standard Users and you can set restrictions. https://quickbooks.intuit.com/learn-support/en-us/set-up-users/user-types-in-quickbooks-online/00/18...

Example: a Standard User limited to vendors and purchases can add a vendor and cut a check to that vendor (being themself as a fraudulent example) but they cannot add a bank account or view the bank registers.

An All Access Standard User can add bank accounts and transfer funds so choose wisely.

@yaniv 

"I see Standard Users can "make deposits and transfer funds"

This refers to recording transactions related to deposits and transfer type in QuickBooks Online register.

QuickBooks can't make an actual bank transfer of funds from one account to another. One would still need access to the bank account to create such transactions.

Hope this helps!

But Quickbooks can initiate, at user instruction, if set up, payments of vendor invoices. And access to paper checks by anyone, user or not, can result in loss of funds. 

So this person is an admin who will be setting up my chart of accounts, reconciling my statements, producing reports. What is the right type of access they should get? 

Actually, is there any way to make sure that nobody ever can transact on my accounts (issue checks, transfer money, etc) from within Quickbooks? 

Is there anyway to take away that capability? 

I don't want any financial activities to originate in Quickbooks. 

@yaniv 

Standard User access would work better. Master admin or Company admin would have full access in QBO including buying 3-rd party apps.

Glad to see you in the Community, yaniv.

 We build privacy into everything we do. You have control who views the financial data and what the user can see and do with it.

Based on the details shared, the employee needs to have the Company Admin access to perform the tasks mentioned above. QuickBooks Online is a diary of your business that keeps track of what’s happening to the transactions.

Transferring of money within the company will not be processed on the actual bank account. As mentioned by @vpcontroller, the employee needs to access the bank to create such a transaction.

To prevent the admin from issuing a check, make sure that you don’t provide a pre-printed one since it contains your bank information. Simply set specific user access to prevent the employee from performing any financial activities.

Check out the article provide by @ john-pero to view all types of users available in QuickBooks. 

For additional reference, I’m adding an article that contains a video and instructions on how to manage a user’s access: Add, delete, or change user access.

Let me know if you require further information about the product. I’m always ready to help and make sure you’re taken care of. Have a good day.