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Buy nowDear Intuit,
You say that this change is in "response to the consistent feedback we've collated from our Merchants which is to receive their customers' payment after a day of processing at a very low cost." I don't recall Intuit ever asking me what I would like. Can you quantify how many merchants have asked you to increase their overall ACH processing fees on ALL transactions in order to get access to money faster? When you collated that feedback, were you counting based on what? Responses to a survey? Unsolicited comments from users? I am thinking that you may have misunderstood what customers really want.
I can understand paying to have access to my money SOONER, which is the current policy. But why change the existing policy of no fee on ACH transactions at normal speed? You are making money in interest off of our collective float, aren't you? It seems like a double charge to me. I don't like it one bit.
Over 90% of my small business' sales are collected in ACH transactions so this change will have a very big impact on my profits. Furthermore, since I use progress invoicing, you are now going to triple dip on every one of my sales. (You'll take your cut of the customer's deposit and each of their following installments.) Even with the fee maxing out at $10, we are talking about $25 in transaction fees for my typical sales on top of you earning interest on my money, too.
I don't like this change at all and I hope you will reconsider it. It's going to hurt for me and I imagine many of the small businesses that depend on your products.
If I resort to taking paper checks, which I very well might, then you will have shot yourself in the foot because you will lose the interest on my money that you could have had.
This one change may be the straw to make me move to another platform that doesn't nikel and dime me so much.