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freedom4jenny201
December 12, 2021
Question

Do the card processing fees on Instant Deposits get withdrawn from my bank account separately?

  • December 12, 2021
  • 1 reply
  • 0 views
I used a Payment Link to collect a credit card payment from my customer. I set up the link for $15, she paid $15...great! But now I see the Instant Deposit to my account is for $15 -- the card processing fee was not deducted before it was deposited to my account? When I look at "Deposits from Quickbooks Payments" a fee of $0.84 is listed. When or how will I end up paying that fee?

1 reply

AlcaeusF
AlcaeusF
December 13, 2021

Hi @freedom4jenny201,

 

Thank you for posting here in the Community. Allow me to step in and provide clarification about how the fees work in QuickBooks Payments.

 

Yes, the processing fees will be deducted from your bank account separately. The timeframe QuickBooks Payments will be getting the Instant Deposit fees will depend on your enrolled bank.

 

If you're using QuickBooks Cash Debit Card for instant deposits, we waive the 1% fee. We will base it on the total deposit amount in Merchant Services.

 

You can usually view the details of the fee directly from your account. If there are no specific days stated for the deduction, I recommend contacting our Payment Support Team.

 

They'll be able to check the transaction further and provide updates. Check out this link for the detailed instructions on how to contact support: Contact Payments or Point of Sale Support.

 

For additional reference, I've attached a link you can use to check the deposit speed, as well as some information about the payment deposit schedules: Find out when QuickBooks Payments deposits customer payments.

 

Keep me posted if you need anything else regarding the Instant Deposit feature or accepting customer payments online. Have a great day.

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