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 payment 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 are 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 fee 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 ¢

What are Instant Deposit & Fees for QuickBooks Online & Desktop

By setting up instant deposits, you can request 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 deposit. This fee is in addition to the processing of customer payments. But if you want to waive this additional 1% fee then you have to link your QuickBooks debit card and that fee is taken later and shows up in a different transaction. The processing fee will deduct from the same bank account that is used for the standard payment processing and even you receive your instant deposit. There is an option for scheduling an instant deposit which can be run automatically for specific days. Here we’ll discuss how to set up an Instant deposit:

Get Set-up for Instant Deposits

For this, you need a Quickbooks payments account and then sign-up to get an instant deposit. Also, you have to add your bank account and debit card and set the debit card to your checking account. Having a Quickbooks checking account gives you the advantage of a 0% fee.

  • For set up, you have to log in to QuickBooks online.
  • After login, you have to go to Get paid & pay and then click on Deposits.
  • If you are eligible then you’ll see the instant deposit banner in which you have to select Get set up.
  • After that, you have to follow some onscreen steps and then enter the debit card or bank information.
  • After entering the information, you’ll get the confirmation code for the verification, verify it by entering that code.

See your available funds

Through this, you can see the available balance from which you can deposit instantly. You have to go to Get paid and pay and then click on Deposits through which you can review your balance.

Now Get an Instant Deposit

For getting the instant deposit, you have to request an instant deposit. If you want to get your money on the same day make the request before 3 pm. After 3 Pm processing of payments can be done at normal speed. For this,

  • You have to go to Get paid & pay and then click on Deposits.
  • Now in the Instant deposit section, you have to select Get it now.
  • After reviewing fees you can click on Get it now, it helps in see your money in the bank account in a few minutes.

Schedule Instant Deposit

From this, you can schedule your instant deposits for certain days a week. It can check the available balance at 9:15 Am, 2:15 pm, & 9:15 pm. For scheduling you can follow the given steps:

  • At first, you have to select a setting and then Account & settings.
  • After that, you have to open the payment tab and then select the Deposit section.
  • Now you have to select Set a schedule for instant deposit.
  • After that, you have to Choose the days for which you want quick deposits.
  • After doing all the steps given above you have to select save the schedule. It is also editable in the same section.

If you want to change the account or the debit card where the money goes then follow the given steps:

Steps to Change the checking account the money goes into

  • The very first step is to select the setting ⚙ and then click on Account & Settings.
  • Now the next step is to select the payments tab and choose the Deposit accounts section.
  • Now you have to select the option Change so that you are able to edit your information in an instant deposit.
  • Now you have the option to choose to switch your personal debit card or bank account to your Quickbooks checking debit card. If you will do this then you have to select the 0% fee option.
  • After doing above mention steps you have to click on Save and then Done.

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 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 the payments you process for 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 an idea about QuickBooks payment fees. Still, if you have any 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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