Instant Deposit: Get Real Time Payments | QuickBooks (2024)

  • Limited time offer terms

    Discount: Discount applied to the monthly price for the QuickBooks Products is for the first 3 months of service, starting from the date of enrollment, followed by the then-current monthly list price. To be eligible for this offer you must be a new QuickBooks customer and sign up for the monthly plan using the “Buy Now” option.

    **Features

    QuickBooks Payments account subject to eligibility criteria, credit and application approval.

    QuickBooks Checking Account opening is subject to identity verification and approval by Green Dot Bank.

    QuickBooks and Intuit are a technology company, not a bank. Banking services provided by our partner, Green Dot Bank.

    Instant Deposit: Instant deposit is an additional service offered by QuickBooks Payments subject to eligibility criteria, including delayed eligibility for new users and availability for only some transactions and financial institutions. The service carries a 1.75% fee in addition to standard rates for ACH, swiped, invoiced, and keyed card transactions. This 1.75% fee does not apply to payments deposited into a QuickBooks Checking account. Deposits are sent to the financial institution or debit card that you have selected to receive instant deposits in up to 30 minutes. Transactions between 2:15 PM PT and 3:15 PM PT are excluded and processed the next day. Deposit times may vary due to third party delays.

    Next-day deposit: Next-day deposit features are subject to eligibility criteria. Subscription to QuickBooks Online may be required. We anticipate that a large majority of customers who use bank transfers (ACH) with QuickBooks Payments will receive next day bank transfer (ACH) deposits as transaction history is established. New payments customers will be notified when next day bank transfer (ACH) eligibility is established. For next day deposits, payments processed before 3:00 PM PT arrive at your bank the next business day (excluding weekends and holidays). Deposit times may vary for other payment methods, third party delays or risk reviews.

    Payment Dispute Protection: Payments Dispute Protection ("PDP") is an additional service that covers you for certain payment disputes (i.e. "chargebacks") that your customer initiates through its card issuer associated with a credit or debit card transaction on the American Express, Discover, Mastercard or Visa networks and are processed by QuickBooks Payments while you are enrolled in PDP. You must be enrolled in PDP when both the customer's payment is processed and payment dispute is initiated to receive coverage. Payment disputes covered by PDP are subject to a per-payment dispute coverage limit of $10,000 with a total annual coverage limit of $25,000 for all payment disputes received on a rolling 365-day period. Payment disputes related to transactions processed by QuickBooks Payments prior to 3 PM PT on your enrollment day will not be covered if you enrolled in PDP after 3 PM PT. The PDP service fee ranges from .99% to 1.99%,based on eligibility criteria. Terms, conditions, and service fee subject to change without notice.

  • **Product information

    Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.For more information about Intuit Payments' money transmission licenses, please visithttps://www.intuit.com/legal/licenses/payment-licenses

    QuickBooks Payments and QuickBooks Checking accounts: QuickBooks Payments and QuickBooks Checking accounts: Users must apply for both QuickBooks Payments and QuickBooks Checking accounts when bundled. QuickBooks Payments’ Merchant Agreement and QuickBooks Checking account’s Deposit Account Agreement apply.

    QuickBooks Checking account: Banking services provided by and the QuickBooks Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to license from Visa U.S.A., Inc. Green Dot Bank operates under the following registered trade names: GoBank, GO2bank and Bonneville Bank. Registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot is a registered trademark of Green Dot Corporation. ©2021 Green Dot Corporation. All rights reserved. QuickBooks products and services, including Instant Deposit, QuickBooks Payments, Cash flow planning / forecasting are not provided by Green Dot Bank.

    QuickBooks Payments: QuickBooks Payments account subject to eligibility criteria, credit and application approval. Subscription to QuickBooks Online is required. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.

    Terms, conditions, pricing, special features, and service and support options subject to change without notice.

  • I'm well-versed in financial services, particularly QuickBooks and its associated features. QuickBooks, developed by Intuit, offers an array of tools for businesses, including Payments and Checking accounts. Let's break down the key concepts mentioned in the article you provided:

    1. Discount Terms:

      • The discount applies to the first three months of service for new QuickBooks customers signing up for the monthly plan using the "Buy Now" option. After that period, the regular monthly price applies.
    2. QuickBooks Payments:

      • This feature is subject to eligibility criteria, credit checks, and approval. It's a service allowing businesses to process payments. However, eligibility and specific features might vary.
    3. QuickBooks Checking Account:

      • This account is opened through Green Dot Bank and is subject to identity verification and approval. It's not provided directly by Intuit but through a partnership.
    4. Instant Deposit:

      • This service by QuickBooks Payments allows for faster deposits into a selected financial institution or debit card, with a 1.75% fee for certain transactions. However, deposits are not guaranteed instantly; there might be delays based on various factors.
    5. Next-day Deposit:

      • Customers using bank transfers (ACH) with QuickBooks Payments might receive next-day deposits once transaction history is established. Timing for deposits may vary for different payment methods and third-party delays.
    6. Payment Dispute Protection (PDP):

      • This is an additional service offered by QuickBooks Payments that covers certain payment disputes initiated by customers. There are coverage limits per dispute and annually, with a service fee ranging from 0.99% to 1.99% based on eligibility.
    7. Product Information:

      • Intuit Payments Inc. is licensed as a Money Transmitter by the New York State Department of Financial Services.
    8. QuickBooks Payments and QuickBooks Checking Accounts:

      • Users need to apply for both accounts when bundled together. Different agreements apply to each service.
    9. QuickBooks Checking Account by Green Dot Bank:

      • It's a banking service, including a Visa Debit Card, issued by Green Dot Bank, operating under various trade names. Deposits are insured up to allowable limits.
    10. QuickBooks Payments:

      • Subscription to QuickBooks Online is required. It's important to note that certain services and support options may change without prior notice.

    Understanding these terms is crucial for businesses considering QuickBooks services. The intricacies of eligibility, fees, and coverage limits should be carefully assessed before opting for these features to ensure they align with the specific needs and financial structure of a business.

    Instant Deposit: Get Real Time Payments | QuickBooks (2024)

    FAQs

    Instant Deposit: Get Real Time Payments | QuickBooks? ›

    Instant Deposit is an additional service in QuickBooks Payments, subject to eligibility criteria. To qualify, your QuickBooks Payments account must be active and in good standing. Your customer's payments are sent to the deposit account or bank account linked to an eligible debit card in minutes (up to 30 minutes).

    How much does QBO charge for instant deposit? ›

    Payment deposit speeds

    The time it takes to see payments in your bank account after processing them. Paid accounting plans that include access to online payments, banking, and connected business tools. Get instant deposits to QuickBooks Checking at no added cost,** or to an outside bank account for a 1.75% fee.

    What is the instant deposit option in QuickBooks payments? ›

    Instant deposit: Instant Deposit: Instant deposit is an additional service offered by QuickBooks Payments subject to eligibility criteria, including delayed eligibility for new users and availability for only some transactions and financial institutions.

    How long does instant deposit take? ›

    How do instant deposits work? Instant deposits use a system that moves money from a client's payment card to your debit card. Instead of waiting 2-3 business days for the money to arrive, it usually takes only 24 hours (or even as little as 30 minutes).

    Why won't QuickBooks let me instant deposit? ›

    You haven't processed any customer payments for the day. The customer payments aren't eligible for instant deposits. Ineligible payments aren't included as part of your available balance. You already used Instant Deposit five times in one day, or you reached your daily amount limit.

    What is the instant deposit limit in QuickBooks? ›

    You can use Instant Deposit up to 5 times each day. Deposit as little as $1 or up to $125,000 per day. Your limit resets daily. Note: If you use QuickBooks Desktop, follow these steps to get started with instant deposits.

    What is the difference between instant deposit and standard deposit? ›

    Standard bank deposits can take up to 5 business days to complete. With Instant Deposits, you may get $1,000 or more instantly available after you initiate a standard bank deposit into your investing or retirement accounts. Learn more about Instant Deposits.

    What are instant payment methods? ›

    Unlike standard bank transfers, instant payments are set up so that the money reaches the recipient's bank account within seconds, which means it's not possible to retrieve the money via a clearing process.

    Does QuickBooks do instant transfers? ›

    Learn how to transfer funds with QuickBooks Checking in minutes. Instant transfers give eligible customers the option to send money using a linked debit card within 30 minutes including weekends and holidays. Fees, limits, and holds may vary based on the Deposit Account Agreement ‌or the receiving bank.

    How fast is instant payment? ›

    Instant payments allow you to clear payments to banks, that subscribe to this service, within 60 minutes at an extra cost. To make your payment an Instant Payment, ensure that 'Instant Pay' is activated when capturing the payment.

    How much is instant deposit fee? ›

    Cash out standard deposits are fee-free and arrive within 1 to 3 business days into your bank account. Instant deposits cost 1.5% 0.5% - 1.75% with a minimum fee of $0.25.

    What is an instant deposit account? ›

    With an instant access savings account, you can put money in whenever you can afford to and take it out when you need to. There's no need to worry about facing any penalties for doing so. If you want to save, instant access accounts let you do it at your own pace.

    How long does it take for QuickBooks to deposit a payment? ›

    The time it takes to process payments can vary based on a number of factors, such as the time of day. For QuickBooks Online Payments users, credit card payments typically deposit in about 2-3 business days and free ACH Bank Transfer payments deposit in about 2-7 business days.

    Why does QuickBooks take so long to deposit money? ›

    QuickBooks Payments deposit time frame

    We deposit your funds within five business days after your first payment. Your first few deposits take a bit longer while we set up your merchant account. After we're done, your payments will deposit quicker, typically within two business days.

    How fast is QuickBooks direct deposit? ›

    If you use this product, you can enjoy Same-day or Next-day direct deposit. In some instances, you might be on a 5-day direct deposit lead time. You can also view or change your direct deposit funding time. If you use QuickBooks Desktop Payroll Assisted, you have a Next-day (1-day) funding time.

    Is there a fee for ACH payments in QuickBooks Online? ›

    ACH payments are electronic money transfers that pull money from a customer's bank account into yours. Having this option is another way for you to get paid quicker and easier. QuickBooks Payments offers next-day deposit, or instant if you have a QuickBooks Checking account. There is a 1% processing rate for ACH.

    How much does QBO charge to receive payments? ›

    If the payment is swiped, the fee is 2.4%. If it's invoiced, the fee is 2.9%. And if it's keyed in, the fee is 3.4%. Additionally, ACH payments have a charge of a 1% fee for each transaction.

    Does QBO charge for bank transfers? ›

    Yes, there is a QuickBooks ACH payment fee. When invoices or quick requests are paid using ACH bank payments, the QuickBooks bank transfer fee is 1% of the transaction amount.

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