QuickBooks Money now offers QuickBooks Checking: The business bank account for fast payments and high-yield savings

QuickBooks Checking is now in QuickBooks Money

QuickBooks Checking is a free-to-open business bank account with FDIC insurance (up to $5m), a debit card, no minimum balance or required daily balance, and no monthly service fee. Plus, your money goes further with 5.00% APY on funds you save in envelopes. Eligible QuickBooks Online subscribers have access to QuickBooks Checking through QuickBooks Online. And now, you can open a QuickBooks Checking account in QuickBooks Money, no subscription required.

QuickBooks Money is a new all-in-one payments and banking solution that’s free to open, giving small businesses access to QuickBooks Checking and QuickBooks Payments, with no monthly fees or minimum balance requirements. 

QuickBooks Checking accounts in QuickBooks Money seamlessly work with built-in invoicing and quick payment requests to get you paid faster. With payment deposits that go straight to the bank at no extra cost for eligible users, there’s no more long waits for funds from payments processing, which means you can easily take care of your obligations, pay bills, or restock supplies. Not only does the money hit your bank account quickly, but you also earn a high-yield interest. With QuickBooks Money, small businesses can manage their finances, save cash, and accept payments — all within one simple tool. 

QuickBooks Checking Account: A business bank account that allows small businesses to manage transactions, access their cash, and earn interest in savings envelopes. QuickBooks Checking is free to open, and it has no minimum opening deposit or daily balance requirements or monthly service fees. It can be accessed without a subscription through QuickBooks Money or with a QuickBooks Online subscription where you’ll need to sign up for QuickBooks Payments.

Payment deposits that go straight to the bank at no extra cost: With fast deposits at no extra cost, small businesses no longer need to wait a long time for incoming funds from payments to clear when they’re processed through QuickBooks Payments. For eligible QuickBooks Money transactions, same day deposits will provide fast access to funds.

When you use QuickBooks Online, instant deposit will provide immediate access to funds from QuickBooks Payments in the QuickBooks Checking account — at no extra cost. The instant deposit feature works in tandem with QuickBooks Payroll — which can set up and run payroll on the same day — so you can run your business in a timely fashion.

High-Yield Interest: Many small business bank accounts today offer lower interest rates, yet come with fees and minimum balance requirements. QuickBooks Checking, on the other hand, offers customers 5.00% APY on all balances in envelopes.

Envelopes: Envelopes allow business owners to set aside money for specific planned or unexpected expenditures, helping to ensure that their future spend is not accidentally used. This means that small businesses can easily budget and directly partition funds into categories they will need to pay — for example, for quarterly taxes, owner’s salary, or supplies and materials. 

With QuickBooks Online, you have the ability to automatically calculate what you owe in sales taxes and set it aside in an envelope so ready for tax time.

QuickBooks Debit Card: The debit card is linked directly to your QuickBooks Checking account, providing immediate access to your funds. It comes with the added benefit of a virtual card, allowing you to start making transactions right away, even before your physical card arrives. And with access to over 19,000 AllPoint ATMs, your business banking needs are always within reach. Plus, with a QuickBooks Online subscription, the debit card transactions are reconciled seamlessly and you have the option to attach receipts for easier bookkeeping. When you use your debit card, you’re able to easily attach a receipt to the transaction so you can keep your books organized.

$5 Million FDIC Insurance Limit: Know your money is safe sitting in QuickBooks Checking with FDIC insurance limits that are higher than what big banks offer.

Google Pay™ and Apple Pay®: Connect your QuickBooks debit card to Google Pay and Apple Pay to skip lengthy online checkout forms or pay in person with just a touch. With your QuickBooks debit card in your digital wallet, you can make payments and contactless purchases from anywhere. 

Mobile Check Deposit: Mobile check deposit gives small businesses the ability to accept checks from customers or vendors and deposit those funds into their account seamlessly. 

Cash Flow Planner: Powered by machine learning, the Cash Flow Planner provides a view of a business’s finances via a dashboard that indicates how much money is coming into the business and how much money is going out. 

The version in QuickBooks Online does even more; it analyzes all financial inputs to predict a business’s cash flow over the next 90 days, proactively alerting business owners when a cash flow concern might arise and providing recommendations for navigating the challenge. 

Bill Pay: With Bill Pay available in QuickBooks Online, small businesses are able to schedule vendor payments and manage all their money out transactions in one place. Bill Pay users have the option to send a bank transfer (ACH) or check payment to their vendor. The transactions are recorded in QuickBooks, so their books are automatically reconciled.

Seamless QuickBooks Integrations: If you already use QuickBooks Online, you already have access to QuickBooks Checking and QuickBooks Payments features. If you’re starting with QuickBooks Money and decide to upgrade to QuickBooks Online in the future, your QuickBooks Checking account and money data moves with you. 

In QuickBooks Online, your QuickBooks Checking account seamlessly integrates across the accounting platform. All your transactions are automatically reconciled and accounted for in QuickBooks for a complete money-in and money-out view. Through your QuickBooks Online subscription, you can match checks to invoices in two simple steps, grant your accountant read-only access to your QuickBooks account, and more. 

With a QuickBooks Checking account in QuickBooks Online, small businesses can utilize the power of the QuickBooks platform to manage their business finances while also benefiting from an all-in-one business checking account that provides access to their cash whenever they need it.

QuickBooks Checking offers fast access to funds from payments

In traditional systems, money takes too much time to get where it needs to be. Here’s an example: normally, a business can’t accept a payment and immediately have access to that money to spend the money or withdraw cash. Some systems can tack on a 1 to 2-day waiting period before a payment is deposited, and then customers need up to a week or more to spend the money.

With access to fast deposits in their QuickBooks Checking account, businesses can access their cash sooner. When cash moves faster, businesses can grow faster. And with their full money picture in one place, businesses are better informed and can make better financial decisions.

QuickBooks Checking powers fast money movement at a vital moment for small businesses: In the current environment where so many things are bought and sold online, they need as much help as possible to gain faster access to — and keep track of — their money. Unlike the traditional small business bank account model, small business owners can sign up for a QuickBooks Checking account online from mobile or desktop, without ever having to go to a bank. Approval can take only a few minutes. For money management features without bookkeeping, QuickBooks Money offers a QuickBooks Checking account without a subscription. 

Get powerful money insights for smarter financial decisions

Because machine-learning prediction is built into QuickBooks Online, small businesses can get predictive analysis of their upcoming 90-day cash flow, including when an invoice is likely to be paid. This provides critical information to help make decisions like whether to work on drumming up new business or collecting outstanding payments.

Using one platform that performs so many functions is more than just convenient, it can even save small businesses money in the end. By allowing small businesses to manage all the services that impact cash flow at once — from payments, cash flow, and banking — there is the potential to eliminate fees and allow businesses to better understand, manage and predict their cash flow trajectory. QuickBooks Money combines the capabilities of varying services — from payments to cash flow planning to banking — into one core service, potentially saving customers money by eliminating service fees and increasing efficiency when managing their business.

Learn more about QuickBooks Checking and get started with a better business bank account here.

This information is intended to outline our general product direction but represents no obligation and should not be relied on in making a purchasing decision.

**Product Information

QuickBooks and Intuit are a technology company, not a bank. Banking services provided by our partner, Green Dot Bank, member FDIC. .

QuickBooks Payments: QuickBooks Payments account subject to eligibility criteria, credit, and application approval. Subscription to QuickBooks Online required. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. For more information about Intuit Payments' money transmission licenses, please visit https://www.intuit.com/legal/licenses/payment-licenses/.

QuickBooks Checking Account opening is subject to identity verification and approval by Green Dot Bank.

QuickBooks Checking account: Banking services provided by and the QuickBooks Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank operates under the following registered trade names: GoBank, GO2bank and Bonneville Bank. Registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot is a registered trademark of Green Dot Corporation. ©2022 Green Dot Corporation. All rights reserved. QuickBooks products and services, including Instant Deposit, QuickBooks Payments, Cash flow planning / forecasting are not provided by Green Dot Bank.

Users must apply for both QuickBooks Payments and QuickBooks Checking accounts when bundled.

QuickBooks Money: QuickBooks Money is a standalone Intuit offering that includes QuickBooks Payments and QuickBooks Checking. Intuit accounts are subject to eligibility criteria, credit, and application approval. Banking services provided by and the QuickBooks Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. QuickBooks Checking Deposit Account Agreement applies. Banking services and debit card opening are subject to identity verification and approval by Green Dot Bank. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. For more information about Intuit Payments' money transmission licenses, please visit

https://www.intuit.com/legal/licenses/payment-licenses/. No subscription cost or monthly fees. Other fees and limits, including transaction-based fees, apply.

Industry-leading Annual Percentage Yield (APY): Competitive rate information based on publicly available data for small business checking accounts provided by the largest national and online banks as of September 18, 2023. APYs are subject to change at any time.

QuickBooks Payroll: Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services, subject to eligibility criteria, credit and application approval. For more information about Intuit Payments Inc.'s money transmission licenses, please visit https://www.intuit.com/legal/licenses/payment-licenses/.

Instant Deposit: Instant deposit is an additional service offered by QuickBooks Payments subject to eligibility criteria, including delayed eligibility for new users and availability for only some transactions and financial institutions. The service carries a 1.75% fee in addition to standard rates for ACH, swiped, invoiced, and keyed card transactions. This 1.75% fee does not apply to payments deposited into a QuickBooks Checking account. Deposits are sent to the financial institution or debit card that you have selected to receive instant deposits. Scheduled instant deposits are run automatically; QuickBooks checks for eligible funds up to 5 times per day. Non-scheduled instant deposits are sent within 30 minutes. Transactions between 2:15 PM PT and 3:15 PM PT are excluded and processed next day. Deposit times may vary due to third party delays.

Envelopes: You can create up to 9 envelopes. Money in envelopes must be moved to the available balance in your primary deposit account before it can be used. Each envelope will automatically earn interest once created, which will be separately tracked from the primary account and any other envelope. See Deposit Account Agreement for terms and conditions.

Competitive APY: Competitive rate information based on publicly available data for small business checking accounts provided by the largest national and online banks as of July 17, 2023. APYs are subject to change at any time. Learn more.

Cash flow planner: Cash flow planning is provided by QuickBooks as a courtesy for informational purposes only. Actual results may vary.

QuickBooks Bill Pay: QuickBooks Bill Pay product features and availability subject to change. QuickBooks Bill Pay account subject to eligibility criteria, credit, and application approval. Not available in U.S. territories or outside the U.S. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. For more information about Intuit Payments’ money transmission licenses, please visit https://www.intuit.com/legal/licenses/payment-licenses/.

Mobile Remote Deposit Capture: Limited availability to existing customers on iOS and Android. Features may be more broadly available soon, but represents no obligation and should not be relied on in making a purchasing decision. Mobile deposits may take up to 5 business days. Limits on the dollar amount(s) and/or number of checks that may be deposited may apply. QuickBooks Checking account's Deposit Account Agreement applies.

FDIC Insurance: QuickBooks Money (or "QB checking" depending on brand) account balances 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. Green Dot Bank also operates under the following registered trade names: Go2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Additionally, with Green Dot Bank's Deposit Sweep Program you are provided up to $5 million in FDIC insurance coverage on your account balances .

Deposit Sweep Program: Account balances above $250,000 will be automatically swept from Green Dot Bank and equally spread across our participating financial institutions, providing you with up to $5 million in FDIC insurance coverage. Customers are responsible for monitoring their total assets at each institution. Learn more and see a list of participating institutions here.