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MaximillianC
March 11, 2021
Question

QuickBooks Online Eliminating the $.50 Flat-Fee Bank Transfer (ACH) Payment Processing option

  • March 11, 2021
  • 15 replies
  • 0 views

I'm not sure whether or not this is the right place to post this, but I just wanted to post my frustration and disappointment that QuickBooks Online Payments is now forcing those of us who were grandfathered into the flat-fee $0.50 2-business-day ACH payments to now take the 1% fee next-day plan for all payments instead (click here for details)  Granted, the processing fee is still capped at $10 per transaction, but pretty much all of our company's invoices/payments are over $1,000, so that basically means our ACH transaction fees will be going from $0.50 to $10--that'll be a 20x increase for ours and other companies who were on the $.50 ACH plan.  The low-cost flat-rate ACH payment fees were one of the main appeals to QBO and QuickBooks when I signed up with them years ago, and now they're taking it away.  While there are many things I like about QBO, experience after experience makes it clear to me this company is far more focused on milking their customers for every dime they can get out of us, than truly "partnering" with us to help us succeed.  I hope other customers voice their dissatisfaction over this, as well.  And if anyone knows of companies that offer flat-rate ACH processing for B2B payments, please share here.  Thanks!

    15 replies

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    sherryruden
    May 5, 2021

    I have contacted customer support to see if I can opt-put, of course not. Like others said: this is their way of charging small business more money and using the excuse of next day payment. I hope enough of us move our business elsewhere, and they realize that there is no going back. I am sure none of us wants to deal with the hassle and mistrust to the company.

      R
      Ronnie-50
      May 13, 2021

      I find it quite odd that QB decides in the middle of a pandemic when the Benefits of ACH are the most important to change their pricing from $.50 to $10.   I mean they didnt even give us an option.  I had zero issues with waiting on my money to hit my account I dont need to get it next day for 20x the cost.  ABSURD.  Honestly this feels alot like price gouging.  Gas shortages in the southeast the state and feds dont allow price gouging but during a pandemic when this ACH is critical they hit us hard.  WOW classy move QB.  I will be checking into who to report this to and if there is any lawsuits being filed against them for COVID related issues.

       

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        skyviewfarmllc
        June 2, 2021

        I agree it is not the best move for intuit in the long run. creates ill will and a desire to move.

        J
        JSlym
        March 2, 2022

        I am currently using Chase Bank before coming to Quickbooks for merchant services.

         

        Here is a scenario. I make 100 ACH transactions per month, all over $1,000 each.

         

        Quickbooks would charge me $10 per transaction

        Quickbooks total ACH cost for the year - $12,000

         

        Chase charges be $25 per month for 25 transactions and $0.15 per additional.

        Chase total ACH cost for the year - $435

         

        Please tell me how this makes sense?

        Fiat Lux - ASIA
        Fiat Lux - ASIA
        March 3, 2022

        @JSlym 

        If you are running a B2B company, you can utilize other payment processors to accept ACH for free.

        C
        Coronapool
        May 23, 2023

        What’s really sad is that they continue to raise our prices, and they provide virtually nothing in return and more features or value added to the products or services they sell.

          P
          pmflooring
          October 14, 2023

          So I'm definitely confused and frustrated about the ACH fee's. Just this month I had transaction fee's of .50 for a $25,000 deposit and a $5,000 then a $1.00 for a $25,500 deposit and then it jumped to $25.39 for a $2500 deposit and then $15.00 for a a$5500 deposit. I don't have it setup for cc charges to help keep the fee's down, so needless to say I'm confused and frustrated.

          D
          DebSheenD
          October 14, 2023

          Hello there, @pmflooring. 

           

          We want you to have the utmost service you deserve. Let me share some information about the ACH fees.

           

          I've checked our records and found out that other customers also received an email about the next-day deposit for QuickBooks Payments. We know cash flow is critical to small businesses, and we are responding to consistent feedback that our merchants want their money faster. Additionally, our funding speed and cost have not been in line with market standards.

           

          Through this, the changes take effect last March 10, 2021. This way, you'll be moved from Free ACH 5-day funding to Next Day funding for ACH bank transfers with a cost of 1% capped at $10.

           

          However, there are no changes to credit card or debit card payments. Also, the payments processed before 3:00 PM PT arrive at your bank the next business day.

           

          You can request a rate review for your account to get payment discounts. Contact our QuickBooks Payments Team for assistance and to provide feedback for management review. 

           

          Just in case, you can also check out this article for more information with the update:

           

          Let me know if you have any other questions about payment processing.

            P
            pmflooring
            October 15, 2023

            So the problem that I see is that I never requested next day deposit and it wasn’t capped at $10 

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