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user62652
March 22, 2020
Solved

How do I cancel Instant Deposit?

  • March 22, 2020
  • 2 replies
  • 0 views
Original commenter did not share additional details
Best answer by Charies_M

I have started being charged 1% on invoices paid via quickbooks. I did not request instant deposit. How do I turn this off?


Hello there, Annieb40.

 

Automatic Instant deposits can't be turned off in QuickBooks Online (QBO). Instead, you'll want to turn off the scheduling. I'll show you how to do it below:

 

  1. Go to the Gear icon.
  2. Choose Account and settings.
  3. Select the Payments tab.
  4. Choose Deposit Speed. Then, click Change.
  5. Remove the check for all the marked days and leave All the days Off.
  6. Click Save schedule.

Let me also share a couple of articles to share in case you might need them in the future:

You can always get back to me here in the Community if you have any other questions. I'll be more than happy to assists you.

2 replies

RenjolynC
RenjolynC
March 23, 2020

Hello user62652,

 

I'm happy to share some information on this. Instant funding is an opt-in-only service, and once added to the account, it can't be disabled.  However, you don't have to cancel the Instant Deposit feature to avoid instant deposits by turning off the scheduling of them:

 

  1. Within your account select the gear icon. 
  2. Navigate to Accounts and Settings.
  3. Select the Payments tab on the left.
  4. Select Deposit Speed.
  5. Set a schedule for instant deposit.
  6. Click the All Days checkbox to toggle all days to Off.

Now, when a deposit becomes available, you should be prompted to mark it for Instant Deposit, or not.

  1. Go to Settings ⚙ and select Account and Settings.
  2. Select the Payments tab and go to the Deposit Speed section.
  3. Select Change next to Scheduled instant deposits.
  4. Uncheck the days to stop automatic instant deposits for those days. Then select  Save schedule.

 

If the deposit is already underway, canceling will not the instant deposit will not be possible. 

I'm linking a helpful article for you to look over as well: Get help with Instant Deposits.

 

Let me know if I can help with anything else. Take care!

U
user62652Author
March 26, 2020

Thanks, but this isn't what I need.

 

I need to turn off "Instant Deposit" for payments received from clients.

O
Online payments and processing
March 26, 2020

@user62652  Hi there I can help you with that question.

 

Here are steps to take to disable the feature for online payments on invoices:

  1. Sign in to QuickBooks Online.
  2. Click the Gear icon on the upper right hand side.
  3. Under Your Company, select Account and Settings.
  4. Click the Sales tab.
  5. In the Customize section, click on Customize look and feel.
  6. From the Custom form styles list, click Edit on the template to modify.
  7. Click the Payments tab.
  8. Click on the payment method(s) to disable.
  9. Select Done.

It might seem as if the boxes reverted to their original state but once you create a new invoice you'll see the boxes on the invoice template are no longer checked for online payment processing.

 

You can also enable/disable card and ACH processing from individual invoices, QuickBooks Online is designed to memorize settings from prior transactions.

 

Let me know if this helps!

 

D
dkcolson
July 23, 2021

You can't.  I was told no option to join (website there is - LIE!)  I was told the only way to opt out was not to use the service.  Unbelieveable!!!!!

J
JASONSTRAW
March 31, 2022

hello QB please allow me to change this.. i have gone through the instructions at the begiing of the post and i am not allowed to edit anything.. please help

Angelyn_T
Angelyn_T
March 31, 2022

Hi there, Jason.

 

Once you've upgraded to a faster funding or instant deposit, you won't be able to edit or turn this off in QuickBooks Online (QBO). However, you can always turn off the scheduling to avoid instant deposits as instructed in the previous replies.

 

  1. Sign in to your QBO account.
  2. Go to the Gear icon, then click on Accounts and Settings.
  3. Select the Payments tab.
  4. Choose Deposit Speed. Then, click Change.
  5. Remove the check for all the marked days and leave All the days Off.
  6. Hit on Save schedule.

 

Another option is to cancel your payment account and resubscribe to a new one. This way, you can start with a fresh deposit schedule. For more information check out these links:

 

 

Once completed, connect your new payments account to QuickBooks Online.

 

If you need further assistance, you can always connecti with our designated Support. This way, a live representative can discuss with you more about deposit schedules and give you ways or options on how to downgrade your deposit speed.

 

Please let me know in the comment section if you have any follow-up questions about deposit schedules. I'm just a post away to help. Take care and enjoy the rest of the day!

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