A fee equal to 1% of the invoiced amount up to $10 per invoice may not sound like a lot, but if you're a preschool, for example, with 75+ invoices a month, Intuit just added $7,500 a year to your operating costs just for using their payment by bank feature. Very uncool Intuit and very unfriendly to small business. You should be ashamed of yourself. And those responsible for this decision should be fired. In fact, even your own agents think it was a bad decision.
This feature was announced as a benefit that came with no additional costs. That was a lie. I like what we had before and if I wanted payment faster, I always had the choice to pay 1%. Now we have no choice. Rather we have thousands of dollars of unnecessary fees on top of our monthly or annual subscription fees, which also have increased quite dramatically over the past several years. How is this helpful to small businesses, particularly during a pandemic?
By the way, I spoke with 4 different agents today and not one of them knew how to turn the feature off. This is also a problem for those who can't afford to use the feature any longer.
I was an early adopter of Quickbooks Online and been loyal for 20+ years. But, now I am exploring other options. I hope other subscribers do as well. Then, maybe Wall Street Investors will take note and force Intuit's Board to focus more on serving customers rather than taking 1% of everyone else's money.
