Do I need a QuickBooks Online account to use QuickBooks Cash?
Yes, you’ll need a QuickBooks Online account in order to use QuickBooks Cash banking and Payments. After you sign up for QuickBooks Online, a single application lets you apply for both QuickBooks Cash and Payments accounts. Applying for both is totally free.
Is the QuickBooks Cash account FDIC insured?
Yes, the account is provided by Green Dot Bank, FDIC member. The account and any money in envelopes are FDIC insured to the standard $250,000 limit.
Do I need a QuickBooks Cash account to use Envelopes?
Yes, you’ll need to be approved for a QuickBooks Cash account before you can use Envelopes. Envelopes is a QuickBooks Cash account feature that lets you set aside funds from your QuickBooks Cash balance for expenses or investments. You can use the Cash Flow Planner to create custom forecasts without a QuickBooks Cash account.
How do I get money into my QuickBooks Cash account?
You have a couple of options: Get paid through QuickBooks. If you have QuickBooks Payments, and a customer pays an online invoice from you, the money goes right into your QuickBooks Cash account. Add a funding account from one of your existing banks. You’ll need to add the routing and account numbers and verify the account. Once you do that, you can transfer money in and out of the main QuickBooks Cash account.
QuickBooks Cash Account opening is subject to identity verification and approval by Green Dot Bank.
QuickBooks Cash account features availability: QuickBooks Cash availability is currently limited and not available to all customers. Some features may be more broadly available soon.
No monthly fees: Other fees and limits apply. See Deposit Account Agreement for details.
National average interest rate: The average interest rate is based on the Federal Deposit Insurance Corporation’s national rate published the week of July 20, 2020. Learn more.
Free Instant Deposit: Includes use of Instant Deposit without the additional cost. Instant deposit is an additional service offered by QuickBooks Payments subject to eligibility criteria. Standard rates apply for ACH, swiped, invoiced, and keyed card transactions. Deposits are sent to the bank account linked to your QuickBooks Debit Card or another eligible debit card in up to 30 minutes. Deposit times may vary for third party delays.
Annual percentage yield: The annual percentage yield (“APY”) is accurate as of 7/29/20 and may change at our discretion at any time. The APY is applied to deposit balances within your primary QuickBooks Cash account and each individual Envelope. We use the average daily balance method to calculate interest on your account. See Deposit Account Agreement for terms and conditions.
Cash flow planner: Cash flow planning is provided as a courtesy for informational purposes only. Actual results may vary.
Envelopes: You can create up to 10 Envelopes. Money in Envelopes must be moved to the available balance in your primary deposit account before it can be used. Envelopes earn interest as well. Each Envelope will automatically earn interest once created, which will be separately tracked from the primary account and any other Envelope. The interest will be applied to deposit balances in each individual Envelope at the end of your Billing Cycle. See Deposit Account Agreement for terms and conditions.
Bill Pay: Bill Pay is provided by Evolve Bank and powered by Melio. Bill Pay is not available for QuickBooks Online Simple Start.
Fee-free ATM withdrawals: Fee-free ATM access applies to in-network AllPoint ATMs only. For out-of-network ATMs and bank tellers, a $3 fee will apply, plus any additional fees charged by the ATM owner or bank. See app for fee-free ATM locations.
Free ACH transfers: Personalized card required. Subject to your bank’s restrictions and fees. Limits, qualifications and enrollment requirements may apply.
QuickBooks Payments: QuickBooks Payments account subject to eligibility criteria, credit and application approval. Subscription to QuickBooks Online is required.
QuickBooks Payments and QuickBooks Cash accounts: Users must apply for both QuickBooks Payments and QuickBooks Cash accounts. QuickBooks Payments’ Merchant Agreement and QuickBooks Cash account’s Deposit Account Agreement apply.
FDIC insured up to $250,000: QuickBooks Cash Account funds are FDIC-insured up to the allowable limits through Green Dot Bank, Member FDIC upon verification of Cardholder’s identity. Coverage limit is subject to aggregation of all of Cardholder’s funds held on deposit at Green Dot Bank.
QuickBooks Online and QuickBooks Self-Employed system requirements: QuickBooks Online requires a persistent internet connection (a high-speed connection is recommended) and computer with a supported Internet browser or a mobile phone with a supported operating system (see System Requirements) and an Internet connection. Network fees may apply.
QuickBooks app integration: Online services vary by participating financial institutions or other parties and may be subject to application approval, additional terms, conditions, and fees. For more information see apps.com.
Cancellation policy: There’s no contract or commitment. You’re free to switch plans or cancel any time.
Customer support: For hours of support and how to contact support, click here.
1. 98% of customers recommend QuickBooks: Based on survey of small businesses using QuickBooks Online in the U.S. conducted September 2018.
Terms, conditions, pricing, special features, and service and support options for QuickBooks products and services, including but not limited to QuickBooks Online, QuickBooks Payments, Instant Deposit, and Cash Flow Planner, are subject to change without notice.