Question
Payment Processing and Account Closing
I am writing in an attempt to escalate an issue I have been trying to resolve for weeks. I was eager to begin using the payment processing services since many of my customers have been asking if I could accept credit card payments. I was excited to be able to deliver that using QBO services. I applied to begin using quickbooks payments and was immediately approved to do so. I created an invoice which also immediately gave me the option to allow my customer to pay the invoice by credit card. My customer fulfilled his duties and paid the invoice via his credit card. Upon waiting for the money to get deposited into my account, my account was closed abruptly without any explanation or warning. I have tried calling multiple times trying to understand and resolve this issue only to be told repeatedly that it was closed as a "business decision" which is completely vague and not helpful. I am being told that we can either wait 180 days and at that time it will either get refunded back to the customer or sent to the state as unclaimed funds and there's nothing QBO can do about that. Neither of these options are acceptable. As a small business owner, I cannot afford to wait 180 days and I will not put my customer at risk of losing $5,000 to the state, these are not "unclaimed funds"!!! One customer support individual claimed the fastest and safest way to get the money would be to go back to my customer and ask them to dispute the charge with their credit card company and pay with another form of payment. What they have now done is not only made my business look unprofessional to a customer, but they are now asking me to waste my customer's valuable time and mine because of QBO's unprofessional practices. My business has provided a service, my customer has paid for this service, yet they are holding the money without any acceptable explanation or resolution. How is that legal?
I highly recommend that in the future to protect other business owners, the option to accept payment via credit card on invoice should not be allowed until the application is fully approved. I have researched here and this is not the first time they have done this to business owners like me. A review of their application and approval process of Quickbooks payments needs to be changed!
This matter needs to be addressed immediately or I am prepared to seek legal action which is totally avoidable if I can get in contact with someone helpful at Quickbooks. There has to be a way to void my customer's payment or better yet deposit the money that is a valid business transaction into my account. Reaching out here to see if anyone has had success in getting their money back. PLEASE HELP!