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Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

Here to join the bandwagon of users complaining about processing times. After waiting over a week for my first deposit, I was promised faster times once everything was verified to be functioning as intended. Well, I now have two invoices a week out and no payment. Kind of silly that they’d offer such a lackluster service, forcing their customers to entertain alternative options. I know I’ll be looking to transition the moment my subscription is up. 

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

If people started to leave their service, they wouldn't be getting that sweet interest from holding our money so long and maybe they'd reconsider their greedy actions. It could make a bigger hit on their bottom line to lose a bunch of customers entirely than to cut back on hold time. Maybe not, though. Interest might be pretty huge in the time frame their holding our money hostage. Gotta love them bangsters. I rarely have to use credit cards for customers, thankfully. But if I did, I'd certainly look for someone else to receive payments through. We all know how stressful and potentially damaging this is; not being able to pay vendors or bills on time can serve a major blow to small businesses. 

 

And they should stop playing this charade that they will communicate further with their technical team etc. So many people have stated how other services get them their money fast. It has nothing to do with tech issues or banking institutions themselves in processing the payments as other payment services do it FASTER. It's an issue of greed.  Send the info to Corporate!

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

After reading through these posts, and being very grateful that I am not the only one that finds this practice disgraceful, I did call merchant services, and am now VERY clear as to why Quickbooks is holding OUR funds for absurd lengths of time. It's so we as customers can be extorted into paying Quickbooks a 1% fee per transaction to have our funds deposited the next day (next day is available by nearly every other banking institution these days,  BTW). Absolutely DISGUSTING. I am now exploring other options through my bank directly via Zelle or similar. See ya later, quickbooks. 

Anonymous
Not applicable

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

@drmvk @jamesgibson14 @samjohn @BMXrider64 @ccass357 

How about Veem?

https://veem.grsm.io/fl

 

Any comment for our reference?

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

Honestly, it feels like we are being punished when customers choose the bank transfer, because there is no financial benefit to QB, unlike a credit card transaction.  I would be willing to pay a 1 or 2 dollar fee for a bank transfer if it didn't mean waiting 15 years for a deposit to show up.  It is literally faster for a customer to get their bill IN THE MAIL, MAIL a check and me to bebop my way to my bank.  That is asinine. FIX THIS!

QuickBooks Team

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Hi there, christilandis.

 

We follow the NACHA rules wherein QuickBooks bank transfer (ACH) payment deposits can take 2-7 business days. However, some financial institutions may take longer to verify and process the deposits.

 

You might want to try our next-day deposit plan for bank transfer (ACH) payments. You can check out the Get paid faster with next-day deposits article for more details.

 

If it's still undeposited, I'd suggest contacting our Merchant Services Team. They'll investigate what causes the delay in receiving the deposits.

 

I have articles here about QuickBooks Payments Deposits:

 

Please reach out to us if you need anything else with managing your deposits.

Highlighted
Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Translation, we take our own sweet time with your money unless you pay us more to do it faster.

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

I am a CPA and I use the quickbook ACH processing. Quickbook withdraw the money from cloent’s bank account the moment I recive the payment via ACH. Quicknook hold the fund at least 3-5 days and send the fund to my business account. This is not right

Moderator

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

I understand your thoughts about the ACH process, @JustinYKim.

 

Generally, the deposit date for ACH processing would depend on when your bank approves the transactions. If the fund is taking longer than usual, it'd be best to reach out to our Merchant Services Team so they can track your transactions. 

 

I'd also pass along your feedback about the processing to our engineers, JustinYKim. This way, they'll know what they need to consider in future product updates.

 

For more information about the ACH process, you can check out the link provided by my colleagues on this thread. 

 

Let me know if you need anything else. I'm here to help.

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Yes.  QuickBooks wants it to take a long time to earn/steal interest on your money.  They also want it to be difficult so you'll be more likely to turn on credit card processing so they can take more of your money.  #QuickbooksSucks #Quickbooks is corrupt

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

Some of my small payments I am going to continue to allow to use the bank transfer to pay since they are sub $500 each month, but one is $5000/month. The last month was a small invoice of $1400. I talked with their book keeper and the money was withdrawn from their account on 06 Nov. My bank reported the deposit received on 13 Nov and credited my account that evening. So, Intuit is completely just making the interest on the float. There is NO reason to do this. Just because you CAN do it, does not mean you should.

This customer pays my invoices on the same day they are received so this was a big change. They are going back to mailing the checks to me and I will disable online payment for any payments I need more quickly.

 

Shameful

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

Quickbooks not so quick!

 

I wish I had read these reviews before signing up. I’m a small business and have been waiting days for credit card payment to be deposited. The advertising said 1 day which is one of the reason I signed up. However that has not been the case.

QuickBooks Team

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

I'm glad you found your way to this thread, Smokey.

 

I appreciate you for sharing your thoughts with us. I believe the advertisement you're referring is the next-day deposits option. This feature is automatic for customers who signed up for QuickBooks Payments after May 21, 2019. For customers who signed up before the said date, you'll need to upgrade your ACH deposit and may want verify if your eligible for the upgrade.

 

Here's how:

  1. Go to Gear icon.
  2. Choose Account and Settings.
  3. Select the Payments tab.
  4. If you're eligible for next-day deposits, select Upgrade in the Deposit Speed section.

Another way to verify is to contact our Merchant Services Team.

 

You're always welcome to visit us again if you have other questions. I'm happy to assist. You have a great day and take care!

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

I am in the same boat as all of you. Don’t understand why the delay exists. All other ways to accepts payment can be twice or three times as fast. Very upsetting to say the least. 

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

I was notified Dec 12 that an ACH transfer was paid to me.  It is Jan 5 now.  The deposit has not appeared in my 5/3 account.

 

There have been 12 to 14 business days.  5/3 doesn't control the money coming to it, so what to I do?  Is there a way to verify funds are in transit and where they are?

QuickBooks Team

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Let me provide some information on when QuickBooks Payments deposits your money, bruehoyt.

 

QuickBooks bank transfer (ACH) payment deposits can take 2-7 business days. However, some financial institutions may take longer to verify and process the deposits.

 

To learn more about this one, you can check out this article: Find Out When QuickBooks Payments Deposits Your Money.

 

Since it is still undeposited for more than 12 days, I'd suggest contacting our Merchant Services Team. They'll investigate what causes the delay in receiving the deposits. They'll also trace and verify the transit of the ACH transfer.

 

For more details about QuickBooks Payments, you can check out this article: QuickBooks Payments Deposits FAQ.

 

I'm just a click away if you need a hand with managing your deposits or any QuickBooks Payments related.

Level 4

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes sometimes more than a week? Every other bank or app I use takes 2-3 days.

@DavidR2 

RE: Don’t understand why the delay exists.

 

I did some research and found out that Intuit is using the Pony Express to transfer the money.  Super fast 10-days to cross the country on horseback.

 

https://en.wikipedia.org/wiki/Pony_Express

 

Level 2

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

I spent 3 hours today trying to contact the Merchant Services Team.

 

I was on hold twice for 1.5 hours and both times the calls were dropped.

 

I also tried the chat feature but nobody joined the chat from Merchant Services on 3 occasions.

 

Please advise

QuickBooks Team

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Hello Mobilestranger21

 

Welcome and thanks for sharing your sentiments here in the Community. That's a long time of waiting and I'm sure I'd feel the same if I'm in a similar situation. I'd appreciate it if you can tell me more about your concern so I can further assist?

 

However, if you need to get the best help possible from our Merchant Services team, check out this help article: Contact Payments Support and refer to QuickBooks Online with Payments & Merchant Service Center for the business hours and how to reach them. 

 

Feel free to get back and leave a comment below. We're always around to guide you. Have a nice day ahead. 

Level 2

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Are you recommending that I do exactly what I did today again?

QuickBooks Team

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Thanks for coming back, Mobilestranger21.

 

I understand your desire to get a quick response from our QuickBooks Care Team. Since it's the beginning of the year, we expect to have a longer wait time for a lot of customers needs assistance with year end payroll and tax issues.

 

You can try reaching them back at a later time using the contact information shared by my colleague above.

 

I appreciate your patience. I want to make sure everything is taken care of for you, so let me know if you have any other issues or concerns by leaving a comment.

Level 2

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

All that I'm trying to accomplish is receive the payments that my customers have made on their

invoices. 

I don't think it's reasonable to ask me to wait until year-end reporting and payroll are completed for me to get timely assistance.

Level 2

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Are there steps I can take to receive the payments that my customers have made on their invoices without having to wait until year-end reporting and payroll are completed?

QuickBooks Team

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

Hi Mobilestranger21,

 

I understand how you want to get timely assistance from our support team. If you're using QuickBooks Payment, there are several ways on how to accept card payments from your customer. Let me elaborate on them.

  • Swipe cards on your mobile device with GoPayment.
  • Type card numbers on your mobile device with GoPayment.
  • Type card numbers in QuickBooks.
  • Swipe cards in QuickBooks.
  • Charge a saved card in QuickBooks.
  • Let customers pay a QuickBooks invoice immediately online.
  • Charge a card online within the Merchant Service Center.
  • Set up a recurring charge.
  • Swipe cards through your Point-of-Sale PIN pad. 
  • Through your web store. 

Here's an article for more information: Accepting Credit Card Payments: The Basics.

 

However, if you only want to record an invoice payment in QuickBooks Online (QBO). Here's how:

  1. Click the + New button.
  2. Select Receive Payment.
  3. Select the name of the customer from the drop-down menu.
  4. From the Outstanding Transactions section, select the transactions that you’d like for QuickBooks Online to calculate. As you select these items, the payment total will change.
  5. Select the payment method.
  6. Enter the Reference no. and Memo if applicable.
  7. You can either deposit the money to your checking account or to the Undeposited funds account.
  8. Click Save and close.

In case you're processing payments in the Merchant Service Center, go over on this article for more information: 

Let me know if you're referring to something else. I'd be happy to help.

Level 1

Re: Why do payments take so long to get deposited. From the day the invoice gets paid it takes so...

The answer in the case I referred to has been resolved.  The customer entered a number wrong for ACH payment.  Unfortunately, Quickbooks marked it as paid even though it had not been.  The customer knew they had submitted, and Quickbooks thanked them for payment.  QB does not seem to have in place a procedure to notify the customer of the business that the payment did not go through.  They said they do try to resend the payment.  But without contacting the customer, I assume they would fail to transfer again with the same incorrect information.  Had I not noticed, it would have just gone unpaid. 

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