Banking

ZackE · ‎August 27, 2020

Thanks for joining the Community, userdiego.

To confirm I have a full understanding of what you're looking to accomplish, are you referring to transferring funds you've processed through an Intuit merchant account?

If so, you'll be pleased to find out the transfer of money is an automatic process. You don't have to manually do anything normally, however there's a few things I'd recommend checking if you're not receiving payment batches.

The first thing to review is your QuickBooks Payments information. When these accounts are applied for, there's an option to not add a bank account on file. If a user chooses to take this route and begins processing payments once an application is approved, with no place for Intuit to send their money, the transactions will remain on hold until a financial institution is added.

Here's how to make sure you have direct deposit set up in our Merchant Service Center:
1. In QBO, go to your Gear (⚙️) icon, then Account and settings.
2. Access the Payments tab and click Manage details.
3. Move your cursor over Account & Settings in the navigation bar.
4. From the drop-down menu, choose Account Profile.
5. Locate your Deposit Account Information section and you'll see if there's an account on file or not.

If there isn't one, definitely enter your preferred deposit details by selecting Add. After doing so, you'll need to contact our Payments Support Team to request the release of funds on hold. I'll go over how to get in touch with them later in this post.

In the event you already had this info entered, move on to checking the next possibility. Intuit periodically does reviews on transactions to help protect all parties involved. If you're new to processing with QuickBooks Payments, your first set of batches will be held for 5 business days. This includes the initial batch and all others that happen afterwards, until the review timeframes are completed. Once funds are sent to your financial institution as a deposit, you should see them within 3-5 banking days.

There's also the possibility of rejects occurring. When deposits are sent to a bank, they can be routed back toward their sender for a number of reasons (typo in the account and/or routing numbers, etc.). If this ever happens with your funds, you'll receive email notifications from Intuit letting you know what's occurred. Once you've corrected the problem with your financial institution, you can contact our Payments Support Team to have funds released:
1. Click your Help (?) icon.
2. Select Contact Us.

I've included a few resources about using an Intuit merchant account. These may come in handy moving forward:

Feel more than welcome to post a reply if there's any other questions. I'll be here to help. Have an awesome day!