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michellehpe
July 27, 2024
Question

Has anyone else had issues with deposits being held?

  • July 27, 2024
  • 1 reply
  • 0 views
Quickbooks has held our deposits and payments from invoices. They've also limited the instant deposits on our account. 
The customer service teams don't ever have the same information and I've been told things ranging from our monthly deposit limit is $20k to daily of $288,000; I've also been told that our funds would be available the next business day; then told the next day; then told 1-2 days. We pay a ton of money in processing fees to Quickbooks not to mention have paid an increase in our monthly subscription. If anyone else is experiencing these issues, let us know. We are looking into filing suit agains Quickbooks.

1 reply

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Irene R
July 28, 2024

I understand how distressful it can be to undergo invoice deposits and payments on hold, Michelle.

 

Know that QuickBooks Online (QBO) has deposit limits ranging from $1 to $125,000, as discussed by our customer service team. And the payment processing time also affects the duration of the deposits.

 

The deposits will be available in your bank account the following day if you've completed the check transaction before 3 PM Pacific time. On the other hand, if the processing occurs after 3 PM PT, the deposit will take two business days to be completed.

 

Please know that the Community is a public forum, and we cannot access anyone's account. With that, I highly recommend reaching out to our QuickBooks Online Payment customer service team again and asking for an update regarding your funds.

 

To get more insights about deposits and payments on hold, you can refer to the materials below:

 

 

Additionally, when you start categorizing your transactions in QBO, learn how to set up your account to automate the process: Automatically match QuickBooks Online product transactions.

 

Don't hesitate to reach back to us if you require additional assistance with your deposits and payments in QBO, Michelle. The Community will be at your end 24/7.

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michellehpeAuthor
July 28, 2024

Thank you for your response but the payment was made at 1:30am pst on Friday July 26th so it should have been available by the next day according to what you stated which is today, July 27th. I also had a customer service rep within the Quickbooks Payments department tell me the funds would be deposited today, July 27th.

Since quickbooks has the power to adjust our instant deposit amount each month, they should make its customers aware of what that amount is so they can plan accordingly. A range of $5,000 to $25,000 is not sufficient enough information for anyone to go off of.

I am disappointed at the lack of knowledge by the customer service team members I've encountered and I fault Intuit Quickbooks for not training its employees properly nor providing the correct information to them so they can serve clients better and more efficiently.

 

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