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masterrenovationsinc
March 26, 2024
Question

Quickbooks Checking - Deposits pending over 2 weeks

  • March 26, 2024
  • 5 replies
  • 0 views

I had some minor issues with QB Checking / Green Dot last fall, but they were fairly minor. When they advertised the 5% interest rate, the owner of my company said to use them again. Things went fairly well until earlier this month. I had some money I was trying to move from Chase into some envelopes in the QB Checking Account. The deposits to QBO cleared over a week ago, but the transfers into the envelopes are still pending. I tried calling, but because of how I have the accounts set up, I couldn't remember which info I used in setting it up and then couldn't get into the account. If Quickbooks is going to market this as Quickbooks Checking, Quickbooks needs to be the one we contact with any issues. 5% interest sounds good, but it's not worth having money sitting in limbo and not earning interest or being afraid that it's going to disappear (as others have had happen). 

If anyone has any help, I would greatly appreciate it. I'm very close to pulling everything out of this account.

5 replies

FishingForAnswers
FishingForAnswers
March 26, 2024

@masterrenovationsinc  Well, @Just_me could tell you some stories.

 

Unfortunately, those stories do not have happy endings.

    J
    Just_me
    March 26, 2024

    Pull your money out!!!  Do it NOW!!!  

     

    QB acts like it's no big deal, but they will "hold" your money (I believe it is UP TO 270 days) so that they can collect interest off it.  The longer they hold it, the less likely they are to return it to you.  
    After a certain amount of time, they will release it to  your state.  Then you have to collect it from your state.  It's actually all quite ridiculous and shady.  

    But you don't have to take my word for it.  You can use the Search bar at the top of any page here in the community, to find SOOOOOO many others that this has happened to. 

     

    There is talk of a class action lawsuit, because of all this. There is a Facebook group dedicated to this.  I will leave the link below, in case you're interested.  It will have the information for you. 

     

    https://www.facebook.com/groups/1324101394966851/discussion/preview

     

    Good luck. 

     

    J
    Just_me
    March 26, 2024

    Also, if you're not joining the lawsuit, at least take a few minutes to file complaints with the FTC, BBB, your State Attorney General, and everywhere else you can think of.  

    This chaos that Intuit/ QB is causing needs to stop!!  

    I
    Irene R
    March 26, 2024

    I appreciate you posting your concern here in the Community, Masterrenovationsince.

     

    I'm here to share insights about the pending deposit transactions in the QuickBooks Online Checking account.

     

    In QuickBooks Online (QBO), transactions with a Pending status mean that your bank has not yet cleared it. The funds may take 1-5 days to reach your account. To know the latest updates regarding the status of your transactions, I recommend checking your bank end. In addition to that, various factors can affect funding time. For instance, the transaction time and days entered and your chosen financial institution's authentication methods and processing of electronic transactions. 

     

    However, I recommend contacting our Payment support team if the payment status doesn't change after the given time frame. They can pull up your account in a secure environment, verify the cause of why they still show as pending, and investigate the transactions.

     

    With regard to forgotten information concerning your account upon setting it up, perhaps you could consider talking to our QuickBooks live support team. They can help you recover those details. 

     

    When the transactions are cleared from your bank account, you can match and categorize them in your QBO account. 

     

    In addition, check out this article you can use as a guideline to ensure the balance of your QBO account matches your real-life bank statement: Reconcile an account in QuickBooks Online.

     

    Don't hesitate to reach out if you have further questions about the pending transactions in your QBO Checking account. I'll be sure to answer them as soon as possible.

    E
    Erica44Watson
    March 26, 2024

    i am also facing this issue

    E
    Erika_K
    March 26, 2024

    Hi there, Erica. I'll share some details regarding the pending deposits on your QuickBooks Checking.

     

    The pending status next to your checking transactions indicates your bank hasn't cleared them yet. Also, it takes 1-5 banking days for the funds to reach your bank account. However, the funding time can vary due to several factors, such as the time of day you enter the transactions, the financial institution you are using, and the time it takes to verify and process electronic transactions.

     

    However, if the transaction status remains unchanged after the allotted time frame, I suggest contacting our Payments Support Team for further assistance. They have the resources to access your account securely and determine why the transactions are still pending.

     

    Here's how: 

     

    1. Sign in to your QuickBooks Online company.
    2. Go to Help (?) at the top right.
    3. Select or type Contact Us.
    4. Enter your concern, then click Let's talk.
    5. Then, Start a chat with a support expert.


    You can contact them through M-F 6 AM to 6 PM PT. 

    Moreover, I have included some articles that explain how QuickBooks Checking and envelopes work:

     

     

    Keep me notified if you have more questions about your QuickBooks Checking account. We're available anytime to assist. Take care! 

    FishingForAnswers
    FishingForAnswers
    March 26, 2024

    @Erika_K  This is just a rephrasing of what @Irene R  already said.

     

    I understand that the support staff doesn't care enough to read what the other users are posting, but I would think that the support staff would at least notice what the other support staff are posting.

     

    Then, again...

     

    'Hi there, Erica. Hi there, Erica. I'll share some details regarding the pending deposits on your QuickBooks Checking.'

     

    Perhaps that is too big of an ask, when you aren't even reading your own post.

    A
    arcwellwf
    September 11, 2024

    I'm beginning to REALLY dislike QuickBooks. With a new small business that is dependent on the fast turn around of deposited funds to cover operating expenses and personal bills, Quickbooks is ridiculously frustrating with perpetual pending statuses. They say it's "depending on YOUR bank" which is the usual corporate blame game strategy but the "pending" availability of funds is waiting for QB's to clear ie the bank QB'S uses as a partner and to also REPRESENT them. "MY" bank has nothing to do with it. It is a simple (what should be) two part process of my customers bank account who has the funds available ready to be released upon the external draw and QB'S checking to draw the amount and credit my account. Why does this take so f'ing long? Is this just another case of lazy human beings who are in a rush to take your money for themselves but take their time doing their job for others to get paid promptly or a case of poorly written software and or horrible banking practices, or the third which is all of the above? I will be looking for other alternatives and leaving QB's for good for something else that seems to care a little more instead of just continuously offering excuses for problems instead of offering solutions for them. This is what you get when a company gets too big, it becomes more and more disconnected from human reality. Lucky are those that aren't affected by not having access to deposited funds that you work so hard for.

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