QuickBooks Overall Rating
Last Updated: February 11, 2014
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QuickBooks Merchant Services Overview
QuickBooks Merchant Services (payments.intuit.com) is a credit card processing option included with the QuickBooks accounting software by Intuit. The backend card processing services for QuickBooks Merchant Services (QBMS) is handled by Intuit Merchant Services, also known as Innovative Payment Solutions. We have decided to review QBMS separately because the terms and conditions of a QBMS account are different than those offered through Intuit’s traditional merchant accounts.
QBMS allows merchants to process credit cards via their QuickBooks accounting software, which also includes automatic bookkeeping of the transactions. The service has a host of additional features such as an optional card reader for swiping credit cards ($69.95 each), a virtual terminal to allow for charging via any computer with an internet connection, integrated accounting options, automatic billing for reoccurring transactions, invoicing with online payment options for customers, and a free GoPayment card reader and app for merchants who also process mobile payments via their smartphones.
QuickBooks Sales & Marketing Tactics | A+
QuickBooks’ credit card processing option is primarily marketed through direct email and mail marketing, online advertising, and via the QuickBooks accounting software. Intuit doesn’t appear to use independent sales agents, but does have a reseller program that allows other sales organizations to market and sell its services. These third-party organizations may contract with their own independent agents, which could inflate pricing or cause changes to terms and conditions. Merchants are advised to deal directly with Intuit when setting up a QuickBooks Merchant Services account.
QuickBooks Costs & Contract Terms | B+
There is no setup cost for a QBMS account other than purchasing the QuickBooks accounting software. Additionally, there is no service length requirement or termination fee for cancelling the QuickBooks credit card processing option. However, merchants who accept a free copy of QuickBooks in exchange for setting up a QBMS account may be subject to a software “recovery fee” if they cancel service within 24 months of opening the account. The recovery fee is stated to be the market cost of the QuickBooks accounting software as of the date of cancellation.
Aside from setup and cancellation, the only other required fees include a $19.95 monthly service fee (waived for the first two months) and an annual PCI Compliance fee that is based on the number of estimated transactions per year: $35 for 1-24 transactions, $50 for 25-99 transactions, or $100 for 100+ transactions. Additionally, QBMS uses tiered pricing for its processing fees that range from 1.64% to 3.91% per transaction, plus other flat transaction fees of up to $0.34 per sale. Merchants are encouraged to fully read and understand the pricing portion of the merchant application before setting up an account.
It’s important to note that merchants who sign up with Intuit Merchant Services to use desktop terminals or POS systems will be subject to different terms and conditions, which could include cancellation fees.
QuickBooks Complaints & Service | A-
There are relatively few QuickBooks Merchant Services negative reviews considering the popularity of the QuickBooks accounting program among small businesses in the United States. However, among the complaints, the most common types found regarded difficulty using the program and its credit card processing features (QuickBooks does require a little training if you are new to accounting programs), problems with integration with the QuickBooks Point-of-Sale software, and difficulty getting problems resolved with customer support. Due to the low amount of complaints, these reports appear to be mostly isolated incidents and do not indicate widespread problems.
QuickBooks BBB Report | N/A
QBMS does not have a dedicated Better Business Bureau (BBB) report, so this portion of our review will not be factored into the service’s overall rating. Intuit’s main BBB report, which covers its entire suite of products and services has an “A+” rating. The grand majority of the complaints filed with the BBB have been resolved to the customers’ satisfaction.
Bottom Line
QuickBooks Merchant Services is a very popular credit card processing service among merchants who use the QuickBooks accounting software. Overall, the costs and fees of the service are about average for the industry; however, QBMS has no cancellation fee, which makes it an attractive option for many merchants. The service itself has relatively few complaints, but merchants are encouraged to read and understand the terms and conditions before signing and take basic QuickBooks training via a course or self-study. It appears that merchants who properly educate themselves are unlikely to experience problems.
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DO NOT use quickbooks merchant services! I have a small pediatric therapy business. I allow my clients to pay their invoices online. Recently, Intuit did a software update and due to a glitch the account number where they send my deposits was changed to a strangers account. Someone not associated with my business was receiving money from my clients. This good Samaritan was the person who caught this. I spent an hour and a half on the phone with merchant services the first time I called. They said they would resolve it. Three days later, I called because I had not heard anything. They had no information on my case other than that I called. I was furious. After 2.5 hours and speaking with supervisors, they promised to have my money in about 4 days. They claimed they had to do an investigation and asked me to provide them with the contact information of the good Samaritan that called me. UNBELIEVABLE!! To me this is unacceptable. It has been four days and still no money. It is beyond me how a tech company can be so sloppy. I have employees to pay, tax payments coming up and none of it matters. What is most infuriating is that it was their mistake in the first place. They are blaming the banks for the hold up, but I don’t believe that for a second. Companies credit and debit bank accounts all the time. We are talking thousands of dollars here. Once I get my money, I will be dropping all of my intuit services.
Not only are their fees and rates ridiculously higher than other processors, they cannot tell you how to remove the option once you have it installed if you decide to cancel.