Intuit’s Built-In Payment Processing Service
QuickBooks Payments, formerly known as QuickBooks Merchant Services or QBMS, is a credit card processing option for merchant accounts included with the QuickBooks accounting software by Intuit. The backend card processing services for QuickBooks Payments are handled by Intuit Merchant Services. We have decided to review QuickBooks Payments separately because the terms and conditions of a QuickBooks Payments account are different than those offered through Intuit’s traditional merchant accounts.
A Combination of Older Products
Intuit also appears to be gradually folding its GoPayment mobile processing solution into QuickBooks Payments under the name “QuickBooks GoPayment,” so merchants should be sure to clarify which product they are signing up for. QuickBooks Payments allows merchants to process credit cards via their QuickBooks accounting software, which also includes automatic bookkeeping of the transactions. Sasan Goodarzi is the CEO of Intuit, which is headquartered at 2632 Marine Way, Mountain View, California 94043.
QuickBooks Payments Review Table of Contents
- Costs & Contract: QuickBooks Payments (as part of QuickBooks Online) offers a month-to-month contract with no early termination fee.
- Complaints & Service: QuickBooks Payments has received more than 20 public complaints.
- BBB Rating: QuickBooks Payments does not have a profile with the Better Business Bureau at this time.
- Sales & Marketing: QuickBooks Payments does not hire independent sales agents and has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With QuickBooks Payments
I’m fed up with QB Payments already…and I haven’t even started it yet! We setup QB Online for our new business. Our clients pay via check, ACH and credit card so we filled out the info for QB Payments. We sent them the required paperwork via email. That was last week. Their “2-3 days for approval” is bs. I hear on Sunday that one of the papers was a bit, “blurry” (funny, the company that requested it (same papers) and just gave me a mortgage didn’t have a problem reading it.) so I resent it, twice. My customers are complaining via emailing, text and phone about their bills. I keep promising to invoice but still can’t get anywhere with QB. I am beyond frustrated. It’s Wednesday and they are telling me AGAIN 24-48 hrs. It’s been a week. I finally got with someone who talked to managers and said, “keep your phone open” so they can call you. Well, my phone is open, no text, no email, no call. I honestly think I’m done. You can’t reach a human and over and over again in their chats, I’m given a link to “help get it resolved”. Well their freaking link isn’t working. I’ve tried two different browser, my phone and a laptop…nothing. After reading these reviews and my own experience just trying to get an account, I’m more than happy to jump ship and try someone else. Who the heck just closes accounts and holds your money without explanation??? This is lousy business practices and lousy customer service. BEWARE!
We have QB Multistore POS and the QB merchant services. We are a seasonal operation so we open and close accts.
Over the years we have had tons of problems getting the accounts open again when seasonal begins and support tends to be very slow.
My biggest complaint at this time is that they now are closed after 6pm. I dont know about weekends but on a busy December day we have a problem and cannot accept payments and no one to help us.
In 25 yrs of retail experience I have not heard of this. We have always gotten help (with QB and other merchant service companies) at any time.
Denise,
This article may be helpful: Best Seasonal Merchant Accounts.
-PHillip
Well, there seems to be a lot of hate on here and I am not one of them. First off, I have used several Intuit products for almost ten years including QB desktop, now an Enterprise user hosted by Right networks. We use full service payroll but have also used assisted in QB desktop. We have also used GoPayment or as now known, QB payments. Truly has been great for a long time and I appreciate calling one phone number to get several answers on different topics concerning payroll, merchant services, or QB in general.
Now for the negative, everything was going great until back in late June 2019 when some change occurred that started a headache. Now payment reports and user access is only through the mobile app as it was available in QB itself or the merchant website. The other main issue is that when payments upload into QB, they do not carry over the name as it always did and you either have a default, “other customer” or you manually type every single customer. This might not be a big deal for a tiny business, but we use these services for 5 locations and can easily process 150-200 transactions per day.
I am having the same issue as some of the other reviewers. I’m a newer small business and recently invoiced a client $4k. This amount was paid the same day by my client. For some reason I got a note saying the amount was disputed by my client’s bank. So, she paid again (2 days later). This time, I received an email saying my deposit needed to be reviewed. I shared all info that was requested. After a day, my client and I decided we’d use a different way to pay. So we told QBO merchant services to refund the money. ((they kept saying my customer’s address wasn’t correct – when she used a bank account to pay, so it shouldn’t matter) They said they would refund the $4k and it would take 10 business days for my client to receive these funds.
2 days after we planned for the return I called support to make sure it had been returned. This time, I’m told “we tried to refund your customer, but their bank declined the return.” I would have to wait 270 days or have my client’s bank do a dispute. I requested a document to share with my client showing that the funds were returned but declined by her bank. But, QB insisted they couldn’t share this info. Not even a simple email stating this. They only offered verbal confirmation. When I asked to have my client added to the call, they said it wouldn’t be allowed. So I said I will record my verbal confirmation…they threatened to hang up. So my client agreed to do the dispute. After an hour, her bank says they can’t do the dispute because it was an authorized transaction.
We all join a call to QB support to discuss. This time, QB says they didn’t return the funds “because of a business decision.” Liars! They told me 5 hours ago they tried to return the money.
When the bank representative for my client says, if you just authorize that I can use an “R31″ (special code for disputes), I can do that and we can close this out.” QB says, “We can’t authorize that.” The only option was to send a bank letter (on letterhead) saying that we couldn’t do the dispute due to federal regulations.
This post will help: How to Fight Chargebacks and Win
-Phillip
OK, I’m going to be possibly the only one who gives Quickbooks a decent review. I’ve used them for a couple years now and am generally pretty happy. However, I’m only taking payments of $250-$500, 5-10 times per week (photography services). Maybe I’m not having a problem because I deal with smaller dollar amounts than a lot of folks.
I do find that their interface “burps” once in awhile and messes up some of the accounting reports. But, as far as I know, I’ve received all of my funds in a timely manner.
Just curious why you are using Quickbooks if according to you it works but has “hiccups” and what is receiving your funds in a timely manner mean?
Quickbooks Payment services abruptly cancelled our payment account after 2 years of continued service with no credit card complaints from customers. They are holding onto $5,500 of funds due to us (customer’s card was charged but we did not receive payment). They will hold that money for at least 270 days and will not pay us any interest. Their agreement absolves them from any need to explain why they did this or reserve any amount they deem necessary. Also cut us off immediately from their service so we have no way of receiving credit card payments effective immediately. Would not recommend their service to anyone. Read the fine print in the merchant agreement! Especially under reserves.
This post will help: How to Make Your Payment Processor Release Your Money
-Phillip
Wow. Stay away from QB Payments, and probably Intuit altogether. My bad experience has me looking at full accounting alternatives, I have such a bad taste in my mouth from this fiasco.
All started yesterday when I received two emails, one each to separate QB Payments account email addresses notifying me that my separate accounts had both been closed on the same day. No warning, no notice, no explanation. Nothing. Thinking this was some cruel, well-orchestrated joke, I logged into both QB Payments accounts, and sure enough, they were both marked as “closed”, with no options to get the accounts back into good standing.
Spoke to QB operations team, and even after supplying the correct information, they spent about 10 minutes trying to confirm me into the wrong account! Kept telling me someone else is listed on the account. Finally, after I sent them a copy of the email I received, they were able to confirm I was the correct person on the account.
They then informed me that Intuit made a “business decision” and closed my account. Nothing more, no “you exceeded your monthly transaction limit” (I hadn’t), no “you need to confirm with documents” (I already did), nothing. I’m a Small Start-up Business not even in full-scale production yet. We’re only getting a couple $100 eCommerce orders per month at this point, and apparently that’s too much of a risk for QB Payments to handle.
All they offered was “Sorry, you have to take your business to another payment processor.” Luckily, no payments were in the process of clearing, like some of the other horror stories I have read here. They aren’t holding onto my money for 270 days for no reason like the other reviews.
Completely unacceptable. As an IT Consultant with multiple clients using QB Enterprise editions, I will be talking them out of renewing their annual QB Enterprise subscriptions, and will start familiarizing myself with alternatives.
This post will help: Best Merchant Accounts for FreshBooks
-Phillip
My client has been using Quickbooks/Intuit‘s payment processing for about 8 months. This month, they processed a large batch (they are a growing company and there has been constant growth each month of about 35%) and Intuit held the batch. After about 20 days and lots of time on the phone and sending in documentation, signed payment authorization forms, 6 months of bank statements, etc, and the promise that they were working on releasing the batch, Intuit said that they were cancelling my clients’ payment processing account. There was no notice (Intuit immediately shut it down within minutes of telling us). Intuit made it so that we can’t even see any transactions in the payment gateway or any payment info on the customer in QBO. Intuit decided that they are not going to give the company the money AND they aren’t returning it to the customers!!! We have to contact each customer and tell them to dispute their transaction with their bank or credit card company to get the money back and then pay us again. Intuit also will not provide us with any details as to the payments that they are holding (they allowed transactions after that batch to process so we now need to wait and see what settles to figure out which customers are caught up in this mess). So with no notice, we had to set up an outside processing company. All of our Sales Receipts have to be reset up as invoices and we will have to manually post all of the payments. (Note – this company has NEVER had a chargeback).
READ INTUIT’S CONTRACT! They put it right in the contract that they can do this!
One other note – Intuit shut down every other payment gateway that was attached to the same owner as the one in question. He has several companies that are in varying industries. All of the accounts were immediately pulled.
This post will help: How to Make Your Payment Processor Release Your Money
-Phillip
I am very disappointing with QB Payments. We charged our clients for Rent through QB Payments, but The Intuit QB for some reason didn’t send us the money. I started the case (#137735696) and they give me very hard time to verify our organization and still the money is with Intuit. 5 months past.
This post will help: How to Make Your Payment Processor Release Your Money
-Phillip
I own a construction company. I started using the online payment option several months ago. At no time was I told that there was a transaction limit. The first two months I processed payments total approximately $60k without incident. The following month I had a single invoice in-excess of $50k that my customer could not get to go through. I contacted QB/Intuit and it was explained that a single transaction could not exceed $50k. They told me to have my client break the payment up into two payments. They did and it processed. The following month by complete accident I had three customers pay me on the same day for a total amount $94k. The payments were made on 1/24, its now 2/6 and I have still not been funded. I have spent countless hours on the phone trying to get this resolved. During this process I have been told that my limit was $5k for monthly transactions… never told this before and for three months my transactions exceed $50k? I have now had to provide customer contracts, bank statements… all to prove I am a business and have a bank (they’ve been depositing money in for 3 months).
I will say the customer service team has been polite they have no clue has to how their business works. There is a total disconnect between QB’s and Intuit. I wish I would have told them to return the funds to my clients and had them issue a check several days ago!
This post will help: Best Construction Merchant Accounts
– Phillip