QuickBooks Payments Processing Fees: How Much Does It Cost

QuickBooks Payments is the easiest way to process payments and track accounting with QuickBooks. There is a processing fee charged to take payments if you are using QuickBooks Payments. This article will be all about QuickBooks payments fees. We will discuss, exactly, what is this, what are the types of processing fees, etc. You can check out the latest processing fee rates and pricing, and for further updates, by contacting our QuickBooks experts through the toll-free number +1-844-405-0904.

What is QuickBooks Payments Fees

For every transaction made through QuickBooks payments, there are processing fees associated with it. The payment fees entirely depend upon how you have processed the payment and the amount of transaction made. All the processing fees are subject to change.

How Much Does QuickBooks Charge for Processing

Usually, QuickBooks Payments charges fees every time you process a transaction. Also, QuickBooks keeps changing its fees structure. Get acknowledgment about the latest payment fees from the below-listed information.

Monthly FeeACH Bank TransferCredit Card – SwipedCredit card – Online InvoiceCredit Card – Keyed
QuickBooks Online      None1%  (Max $10)2.4% + 25 ¢2.9% + 25 ¢3.4% + 25 ¢
QuickBooks Desktop “Pay as you go” Plan        $0  $3.002.4% + 30 ¢3.5% + 30 ¢3.5% + 30 ¢
QuickBooks Desktop “Pay monthly” Plan        $20   $3.001.6% + 30 ¢3.3% + 30 ¢3.5% + 30 ¢

Instant Deposit Fees for QuickBooks Online & Desktop

By setting up instant deposits, you can request to get funds into your bank account in less than 30 minutes. QuickBooks Payments takes a few days to get the money into your bank account. You can schedule and get an instant deposit with an additional 1% fee of the total amount of the instant deposit. This fee is in addition to the processing of customer payments.

Request a Rate Review of QuickBooks Payments Discount Fees

Request a rate review to see if you qualify for discounts on fees. Know how to request a rate review for your account and get the best rates for processing transactions with QuickBooks Payments.

To get a rate review and quality for discounts, you must meet the following requirements:

  • You processed on average $7,500 per month through QuickBooks Payments in the last three months.
  • If you processed with QuickBooks Payments for at least the last three consecutive months.
  • Your account does not currently have funds on hold and remains in good standing.

We don’t review accounts for the following discounts or fees:

  • Authorization fees
  • AMEX SE program –  discount rates are set by American Express

When Funds Show Up in your Bank Account

The speed of the deposit depends upon the type of product used and payment. Instant deposits process every day of the year with no exceptions while standard deposits process every day except for Sundays, Thanksgiving Day, and Christmas Day. Learn how to find out how long it takes to get payments you process in each product.

Step 1: Check the Deposit Speed for your Product

You can check the deposit speed for your product from QuickBooks Online or the Merchant Service Center.

For QuickBooks Online

To check the current deposit speed:

  • Go to Settings ⚙ and select Account and Settings.
  • Select the Payments tab.
  • Review the Deposit Speed section.

For QuickBooks Desktop, QuickBooks Point of Sale, and GoPayments

To check when the deposit was made, go to the  Merchant Service Center.

  • Sign in to the Merchant Service Center.
  • Select the Activity & Reports tab and then All Statements.
  • Find your most recent statement and select View.
  • Enter the last 4 digits of your Tax ID number.
  • View the Date in the Activity Summary. This is the date the deposit was made.

Step 2: Check the Status of Deposits and Specific Customer Payments

A deposit is the combination of your customer payments (both sales receipts and paid invoices) into a single record. It is also called a batch of payments.

Go to the Merchant Service Center to check the status of processed payments from QuickBooks Online.

For QuickBooks Online

  • Sign in to QuickBooks Online.
  • Go to the Sales menu and select the Deposits tab.
  • Select the Bank Deposit you want to review.

For QuickBooks Desktop, QuickBooks Point of Sale, and GoPayments

The Merchant Service Center keeps a complete record of your payment activity and allows you to check the status of all your processed payments here.

  • Sign in to the Merchant Service Center.
  • From the homepage, select Activities & Reports and then Deposits.
  • Select the Date Range in the Dates field.
  • Select Search.

To check your monthly statement:

  • Go to the homepage.
  • Select the Activity & Reports tab and then All Statements.
  • Find the month you want to see and select View. Or select Download to get a PDF for your records.

Step 3: Reach Out to Your Bank

Your money is on your way if you have checked the payment status and we deposited the payments. You can reach out to your bank if you find any issues. 

Hopefully, now you have the idea about QuickBooks payments fees. Still, if you have any kind of doubts regarding this topic then feel free to take our QuickBooks payment support by dropping a call to this number +1-844-405-0904.

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