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jckeith
July 28, 2024
Question

What can I do to speed up deposits after I get paid? It is taking as much as a week after a vendor pays me.

  • July 28, 2024
  • 3 replies
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3 replies

Irene R
July 28, 2024

The speed of deposits depends on the type of payment used by your payee, Jckeith. I'm here to provide more information about this issue.

 

The time it takes to receive funding depends on your vendor's chosen payment method. Payments made with a credit card will be credited to your account within 2-3 business days, while bank transfers may take up to 5 business days to process.

 

If this is your first time using the service, please note that it may take up to 5 business days for QuickBooks to set up your merchant account. This setup process can influence the time it takes for the initial deposit to go through. Once your account is made, QuickBooks will deposit payments much faster.

 

Furthermore, I recommend contacting our QuickBooks Online Payments team since you have not received payment from the vendor for a week. We can have one of our experts assist you further in a secure environment.

 

Here's how you can reach them:

 

  1. Log in to your QBO account.
  2. Click on Help (?) at the upper right corner of your screen.
  3. Tap on Search, then select Contact Us.
  4. Select a topic to connect with the right expert.
  5. Choose how to contact our QBO support team.
  • Via a Callback, where they’ll save you a spot and call you back.
  • Via Chat, start a chat with our support.

 

You can also reach them via chat using the Merchant Service Center.

 

Additionally, the following materials will help you gain additional details about processing payments and deposits in QuickBooks Payments:

 

 

Return to this thread if you have more questions about your deposits, Jckeith. The Community will help you out as soon as we get your reply. Keep safe!

jckeithAuthor
July 29, 2024

Thank you for the answer. So, to clarify, 5 business days means that if the payment is received on a Monday, it probably will normally take until the following Monday to process?  I have been receiving payments via QB for a couple of years now, and only this summer has it started to take that long. Most were depositing much more quickly. I do not accept credit cards, so it has only been bank deposits.

Carneil_C
July 29, 2024

I appreciate your prompt reply, @jckeith.

 

I'll provide additional details to clarify things about deposit speed.

 

Yes, you're right. For five business days, the money will be deposited next Monday if you process payments before 3 pm PT on Monday. However, you'll want to consult help from your financial institution if this isn't your first time processing and accepting those payments. Thus, some banks hold onto funds after we deposit them. So, you'll need to work with them if they require additional steps.

 

Otherwise, I recommend contacting our Customer Care Support Team so they can further check your account safely and be able to know what makes those payments longer to deposit. You can follow the steps provided by my colleague above or check out this link for more ways to reach out to them: Contact Payments Support.

 

I'll add this article for more in-depth information about managing your payments: Find out when QuickBooks Payments deposits customer payments.

 

If your funds are on hold, this resource can help you check the status of the payments: Learn about funds on hold in QuickBooks Payments.

 

You can always rely here in the Community space for additional assistance managing customer payments. I'll be right there to help you whenever you need it.

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