Hello, @GregR.
I'd be glad to help share information about the QuickBooks Payments settlement and funding.
Intuit automatically batches and submits credit card payments each day at 3:00 PM Pacific Standard Time (PST), 6:00 PM Eastern Standard Time (EST).
The funds settle to your deposit bank account within 1-5 business days of the transaction. The waiting period, known as the time to funding, varies depending on the time of day you enter transactions, which financial institution you choose for your transactions to be deposited in, and how long it takes your bank to verify and process electronic deposits.
In addition, QuickBooks bank transfer (ACH) payment deposits can take 2-7 business days. Some banks may take longer to verify and process deposits. At settlement on day 2, your bank may notify you that Intuit has sent funds to your account. This doesn't mean that your bank actually cleared the funds. When funds are in this state, the Merchant Service Center shows the deposit status Pending. When Intuit gets word from your bank that the deposited funds have cleared, status changes to Funded. If you're wondering about the status of your funds, you may search for deposits in the Merchant Service Center.
Yes, there is a next-day deposits for QuickBooks Payments which you can get your credit card and bank transfer payments deposited the next business day. However, you'll be charged with a fee of 1% or a maximum of $10 per transaction. As mentioned by my colleague FritzF, we're now gradually rolling out this option to all existing QuickBooks Online (QBO) merchants. You’ll receive an email, and a message in QuickBooks, when your account is eligible.
To learn more and how to get the next-day deposits, you may get in touch with our QuickBooks Merchant Team.
Also, for additional information about how batches, settlements, and funding times, you may check this article: Find out when QuickBooks Payments deposits your money.
You can always reach out to me directly by adding a post/comment below, I'm always here to help you. Wishing you continued success!
