The moderators are most likely just repeating what their training manual says to say. But there is no reason it should take 10 days to process an ACH payment when it is a well-established fact that other processors do it in 1-2 days. So the talking point is intentionally misleading at best, patently dishonest at worst.
It does not take 5-7 days for the originating bank to release the funds. That typically happens same day if the transaction is initiated before 3PM. If it is a Friday or holiday, obviously it wont' happen that day but the longest bank holiday is 2 days so worst case scenario, meaning maybe once per year, it could feasibly take 5 days for the originating bank to release the funds. But using a 1-in-365 chance to explain an everyday occurrence is to intentionally be misleading.
It does appear that Intuit is holding the funds for what others have called "day rates" or whatever they are called but it basically means Intuit is gambling with customer money to make profit before releasing it. Most likely the money is being used to underwrite loans. If this is, in fact the case, (A) the moderators here would not be privy to such information, (B) it is unethical as can be for Inuit to do so without disclosing that fact. But ever since banks and financial institutions were deregulated in the 1980s and further deregulated in the 2000s our laws overwhelmingly favor big business. I am a small business and waiting 30-60 days for a client to pay then another for Intuit to transfer my money is unacceptable. And no, I won't call or write the Payment Processing team because it should not be my job to chase down my money. It should be Intuit's policy to give me the service I pay $50/mo. for. I'm already paying $50/mo for a business and person license. I shouldn't have to pay more on top of that to get paid. I will use the time I would spend writing the Payment Processing team to find a better service.
I just see this as, at worst a poor policy that punishes small businesses. At worst it is unethical behavior by Intuit that they then instruct their support teams to lie about. I'm not accusing any of the moderators of lying. I believe they believe what they are saying and are saying what they've been instructed to say, evidenced by the fact that they all just keep "reiterating what their colleague said". We get it. You've reiterated about 30 times on this thread that it takes 5-7 days. What you have not done is answer WHY it takes 5-7 days. Nobody is buying the "transaction cut-off date on a holiday weekend and your bank flagged it for review" story.
But hey, I earned a bunch of useless badges to make me feel like I'm part of the "community". What Intuit isn't paying attention to is that the only community here is folks complaining that it is hurting their businesses to have to wait an additional 10 days on top of often 30-60 day terms to get their money. If I give a client Net-60 terms, and Intuit takes another 10 days to deposit my money, it is taking me nearly an entire quarter to get paid. No small business can operate that way. But sure, they are happy to generously offer to allow me to pay 1% of my business revenue to get it the next day. So on top of the $600/year I already pay Intuit, they will charge me another $1,000 per $100k in revenue. Nope. Not going to happen.